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Form 172 NOL

Forum|Forum|1 year ago
January 28, 2025
13 replies
195 views

I'm working on a tax return for a client who has an NOL carryover. The Carryover Worksheet, line 14 has the amount carried over but shows an error. The error message is "Net Operating Loss is now being reported on Form 172. Form 172 has not been finalized at this time. The product will be updated once the form has been finalized." I went to the Intuit App - Tax Form Availability for ProSeries. There is says that the form is "Unsupported"! It will be ready to print 3/6/25.

Is this correct? Is ProSeries not going to support NOL carryover?

Need help on this one.

ProSeries Professional

Best answer by

Hello. During this time, some forms are continuing to go through the approval and schema updates. Our focus and commitment remains to have forms finalized and approved by their agencies as quickly as possible.

The ProSeries Tax Form Finder has been updated to show Form 172 available to print and e-file on 3/20/2025. To plan accordingly for your clients, continue to check the site for any changes. I hope this helps!

[edited 3/10]

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Show previous replies

C

Cheryl3

Level 3

It is now March 6, and now it shows Mar 20 as the "ready" date. What's up???

IRonMaN

Level 15

"What's up???"

Egg prices?

Intuit has stayed silent on this issue so I'm not really sure why folks keep popping in here hoping for some kind of divine intervention that will have the form ready today.

Slava Ukraini!

K

KKCPA2

Level 3

Today it is March 7 and the form still isn't finalized, and I can't file a client's return on which there's a sizable refund. Need an update ASAP

IRonMaN

Level 15

If only there was some way to get that return filed now.

Slava Ukraini!

BobKamman

Level 15

@IRonMaN You don't understand, this is a place where people come to complain, not to find solutions. You and others have posted the workaround to this problem many times. That's not what people are looking for. Makes you wonder who the real losers are. The clients with NOL's, or their preparers?

@KKCPA2 , @PWeller , and others can now take offense. That's another reason people come here.

As you noted, most recently yesterday,

"Prepare the 172 manually from the IRS website and then attach it as a pdf. When converting the file for e-filing, turn off the error checking feature."

M

Michael11_2

Level 3

Can someone explain to me why the ProSeries Tax Form Finder shows the Form 172 as ready to e-file, yet the instructions say it has to be mailed or attached as a pdf?

A

Anonymous

Hi Michael. See the instructions here on Efiling with Form 172.
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