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    #1

    NOL Classification

    My client has roughly -$200,000 loss on his Sch C business. His AGI is approx -$188,000 (negative) yet line 52 of the NOL classification worksheet displays $0 under column A (business). Because of this my tech support is telling me that is why a form 1045 has not been generated. When I force a form 1045, line 1 a, displays the amount $231,000.

    Is this correct?
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    #2
    What software are you using?

    Drake will produce the 1045 page 2 and you can enter overrides if needed. Have you had this problem before?
    In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
    Alexis de Tocqueville

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      #3
      The last 1045 I did was in 2005...

      and I used the same software in 2005. The 2005 NOL classification worksheet did generate a number on line 52 column A (business) for which I completed and mailed in the form 1045.

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        #4
        I use ProSeries

        I use ProSeries

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