Corporate module Ref #25225

Forum|Forum|6 years ago
May 4, 2020
1 reply
11 views

I am working on a client with an NOL from the last couple years. I have a diagnostic #25225 saying "Current year net operating loss is not reflected in carryovers to 2020 because the election to forego the carryback was not made."

Now, there is normally a checkbox for this election, and if you click the diagnostic, it use to take you to the election. However, I cannot seem to find it.

Anyone else experienced this already yet?

Lacerte Tax

This topic has been closed for replies.

sjrcpa

Level 15

New rule, part of the CARES act, is that an NOL goes back 5 years.

The more I know the more I don’t know.

Y

YOLOTaxesAuthor

Level 3

Thank you for pointing that out, I understand the CARES Act changes. My question is in regards to the election to forego the carryback and the change in the checkbox for that election.

M

Mtnsummit

Level 2

Sorry I do not have the answer, rather I have the same exact question as you. How to make the election to waive the NOL generated in 2019, for a C-Corporation. Anyone?

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