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.
Solved! Go to Solution.
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.
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.