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C
cthomas428
Level 3
March 16, 2024
Question

Foreign Income Exclusion plus Rental Loss Creates NOL Carryforward

  • March 16, 2024
  • 1 reply
  • 11 views

In 2022, Client had a Foreign Earned Income Exclusion that zeroed out his salary. He also had a $12,000 rental loss.

In 2023, ProSeries is carrying forward the $12,000 rental loss as a NOL carryover. Is this correct?

This topic has been closed for replies.

1 reply

sjrcpa
sjrcpa
Level 15
March 16, 2024

Yes that is an NOL.

The more I know the more I don’t know.
    C
    cthomas428Author
    Level 3
    March 16, 2024

    Thanks for the quick reply

      sjrcpa
      sjrcpa
      Level 15
      March 16, 2024

      You're welcome.

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