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faysbooks
Level 1
October 15, 2021
Question

Where do I find the answers to my questions?

  • October 15, 2021
  • 2 replies
  • 14 views
The Cares Act allows NOLs to be carried back five years and yet this program only allows them to be carried back three years.  What happens to the fourth and fifth years?
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2 replies

qbteachmt
qbteachmt
Level 15
October 15, 2021

You find your answers by clicking the links that come with an email notification, or by coming to the forum using your internet browser, then top right, click on your avatar.

 

Don't yell at us; we're volunteers
T
TaxGuyBill
Level 15
October 15, 2021

Why do you think the program only allows them to be carried back three years? 

Is this a 2020 tax return you are working on?

    George4Tacks
    George4Tacks
    Level 15
    October 15, 2021

    @IntuitRebecca Do we add another tab to get the extra years? I know Lacerte does it, but I don't clearly see how ProConnect Tax does this. 

    Answers are easy. Questions are hard!
      George4Tacks
      George4Tacks
      Level 15
      October 15, 2021

      I found this https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/entering-form-1045-application-for-tentative-refund-with-five/00/102460#M9768 and it appears my guess was correct

      See the last response. 

      Answers are easy. Questions are hard!
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