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K
kgalland
Level 4
February 6, 2025
Question

How is the NOL deduction calculated in Proseries 1120?

  • February 6, 2025
  • 1 reply
  • 6 views

There is no worksheet in the 1120 Proseries Professional software showing how the NOL deduction is calculated. Taxpayer has no contribution deduction but the calculation is more than 80% of taxable income. I'm wondering if I need to override on the form? 

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1 reply

B
bhwagcpa
Level 2
April 5, 2025

My NOL calculation was the Taxable Income on Ln 28 - Special Ded on 29b * 80%

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