Insurance Returns: Common NOL Support Questions

Q: How do I suppress the NOL carryover statement from printing for the sub members?

A: Navigate to Organizer > Consolidated Returns > Step 3 > Form Print Options. Select the check box to suppress 1120 on the Page 1 NOL detail for both parent and all subsidiaries.

Q: How do I print the NOL statement? The statement is not printing correctly.

A: Depending on the type of NOL (there are three types), utilization and print of Non- SRLY NOL are at the topcon level. If NOLs have been entered, check if overrides are entered used in the Organizer.

Q: How do I print the NOL SRLY NOL schedule? It is not printing on the form.

A: The utilization and print of Non-SRLY NOL is at the topcon level. If the non-SRLY NOL schedule is not printing on the form, enter NONE if no amount is present (if applicable).

Q: Do the federal NOL amounts flow to the states schedules?

A: Yes, they flow automatically from the federal area to the states.

Q: How do I correct the S382 NOL? The S382 NOL is not flowing to the topcon and/or not utilizing the correct amount.

A: For S382 NOLs, the limited amount in the Organizer must also be entered. Navigate to Organizer > Carryovers, Footnotes, and Invoicing > Carryovers > Computed Carryover Detail > Carryover Detail > Regular NOL > S 382 NOL tab

Q: Why is the NOL not being limited by income?

A: Navigate to Organizer > Income and Deductions > Deductions > Detail, and clear the check box labeled Unlimited NOL computations.

Q: Where can I override my NOL?

A: First check if entry of NOL is correct in lowest level (parent or subsidiary) and not in the topcon level. Overrides should be entered in Organizer > Income and Deductions > Deductions. Choose the type of NOL field to override.

Q: Where is the check box to allow unlimited NOL computations?

A: Navigate to Organizer > Income and Deductions > Deductions, and locate the NOL section.

1120/ins_nol_6.htm/TY2021

Last Modified: 03/20/2020

Last System Build: 01/31/2023