2017 C Corp NOL carryback to 2015 - Spidell

2017 C Corp NOL carryback to 2015

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Message Board 2017 C Corp NOL carryback to 2015

This topic contains 3 replies, has 2 voices, and was last updated by Diane Jaworski-Faulhaber 3 months, 2 weeks ago.

  • Author
  • #174327
    Diane Jaworski-Faulhaber

    I have an NOL carryback from a C Corp’s 2017 tax return to an amended 2015 CA tax return. CA’s Form 3805Q does not have a place to show any carrybacks from subsequent years. I looked up the rules and it should be fully deductible on the amended 2015 tax return. I don’t believe this is part of the problem but I also have a 2014 NOL carry forward on the original 2015 tax return. My net income for that year is $140k and both carry forward and carry backs are $40k each, so there is plenty of profit to absorb.

    Anyone have any idea why my Lacerte software won’t show the NOL on the CA Corp return? It does it perfectly on the 2015 Federal amended return. I checked the form at FTB and there is no place to show a subsequent carryback.

  • #174348
    Lynn Freer

    You use Form 3805Q. It should be in the LaCerte program. It’s used both for computing in the loss year and the carry back/forward year

  • #174390
    Diane Jaworski-Faulhaber

    Agreed but there is no place for a 2017 carryback. Page 2 of the form only allows 2015 to be carried back to 2013 or 2014. And it won’t automatically populate the form. I spent 1 1/2 hours on tech support with Lacerte and they said to override it by entering it on Part II and just enter 2017 for the year. I have to force it to calculate.

  • #174391
    Diane Jaworski-Faulhaber

    I think I am going to override it so it calculates, then I am going to attaché my Form 3805Q from the 2017 tax return.