Carryforward schedule question

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Note: This also applies to the State Data Grid.

Question: Does 990 Tracker have any functionality for tracking carryforward losses within the software for 990-T prep?

Answer: The 990 tracker does not store and calculate Net Operating Loss (NOL) or capital loss carryovers. The system does have tables for you to enter NOL data, but you will have to enter the data again the next year. The carryforward and related NOL history/inventory is not pulled into the next year. 

Circular 230 Disclosure

To ensure compliance with requirements imposed by the IRS, we inform you that any tax advice contained in this software (including any reports or downloads) is not intended or written to be used and cannot be used for the purposes of (i) avoiding penalties under the Internal Revenue Code or (ii) supporting, promoting, marketing or recommending to another party any transaction or matter addressed herein. This software is for informational purposes only and should not be regarded as tax advice. Please consult your tax advisor or attorney for guidance on your individual tax situation.

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