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Entering an NOL carryback from Form 1045 to a previous year

SOLVEDby IntuitLacerte Tax36Updated January 27, 2022

How do you enter net operating loss (NOL) for a Form 1045 carryback to a previous year in Lacerte?

To enter an NOL carryback in prior years:

  1. In the prior year Lacerte program, go to Screen 15, Net Operating Loss.
  2. Enter the Year of loss (MANDATORY).
    • The Year of Loss input field has limitations on what you can enter into it. At this time, there are no plans to release updates to the prior year programs in order to accommodate the current 5-year carryback allowed.
  3. Enter the carryback amount in Initial loss.
  4. Enter the same amount in Carryover available in 20XX.
  5. Select the Current Year NOL button.
  6. Under the 20XX NOL Worksheet subsection, enter the appropriate amounts to adjust the nonbusiness income and deductions (if applicable):
    • Income [A]
    • Deductions [A]
  7. In the AMT subsection, enter the appropriate amounts to adjust the AMT nonbusiness and business items (if applicable):
    • Income [A]
    • Deductions [A]
    • Capital Gains [A]
    • Capital Losses [A]

Once you have the before- and after-carryback amounts, return to the current year Lacerte program and enter the amounts in the applicable fields.

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