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Why do I get an error entering a year in California Form 3508V, NOL Carryover?

rickhuntercpa
Level 3

The taxpayer generated the NOL in 2019. On the 2020 Form 3805V, Part III, I try to enter "2019," but get an error saying it's an invalid year. Entering other years seems to work, by the way.  I can't find anything in the California law to explain this.

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Just-Lisa-Now-
Level 15
Level 15

@IntuitBettyJo   I think this needs to be added to the list of things to fix!


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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11 Replies 11
Just-Lisa-Now-
Level 15
Level 15
are you choosing to carry it forward? There should be a check box at the very top of the form (I think it dumps you down near the bottom of the form when you access it).

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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rickhuntercpa
Level 3

I don't see a check box, but 2019 CA NOLs can only be carried forward not back, so there is no choice or election.

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Just-Lisa-Now-
Level 15
Level 15
I just went and looked , Im not seeing what I thought I remembered, sorry...its been a few years, maybe the form changed or something.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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rickhuntercpa
Level 3

Thanks for trying, Lisa!

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Just-Lisa-Now-
Level 15
Level 15
Ahhh, I see it in 2015 so the form must have changed...

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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DIL
Level 2

I have the same issue. 

If I enter year 2019 = Error

If I enter year 2018 = No Error

I think ProSeries mess up on the update here with the new CA NOL suspension.

NOL is only suspended for CA taxpayer with 1 Million Taxable Income and even in suspension, NOL can still carryforward.  It should not be just an error.

BB4141
Level 1

I agree that TurboTax is not properly treating a California NOL.  My income is below $1M, so the suspension of carryforward should not apply.  

TurboTax, please fix this.

DIL
Level 2

Can anyone solve this? 

Can ProSeries update and correct this error?

Just-Lisa-Now-
Level 15
Level 15

@IntuitBettyJo   I think this needs to be added to the list of things to fix!


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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rickhuntercpa
Level 3

It's still not working and won't let me e-file the CA return.  When will this be fixed?  Thanks.

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rickhuntercpa
Level 3

I see that this is now fixed.  Thank you for that!

If I could make a suggestion, though, when a problem that has been identified on a message board has been fixed, please post a message saying so.  I only found out because I went back to the tax return and saw that it now works.

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