Forum Discussion

Anon987654321's avatar
6 years ago

Trust prior year losses against foreign income

Why does MYOB not permit the offsetting of prior year tax losses against foreign income in the trust return?

  • Hello Anon987654321 

     

    Thanks for you question about offset prior year losses against foreign income in a trust return.

     

    I've just tested a trust return in the software to see if I could replicate the issue you mention. Depending on where I am entering the prior year loss, will affect whether the foriegn income is offset against the prior year loss. However, I was able to offset the foreign income, which means that the software does permit the offset.