Error:
CMN.ATO.IITR.310026 – Primary production and/or Non-primary production deferred losses amount required More
A Business loss code of 8 has been entered at Description of activity for Activity 1, 2 or 3, but no amount has been entered at primary production deferred losses and/or non-primary production deferred losses. The sum of net losses associated with Activity 1, 2 or 3 must also be reflected in the deferred non-commercial business losses items.
Solution: Please enter values at Deferred Losses section (primary or non-primary income), as error says if Loss type is 8.
Related Guide:
How to use Deferred Business Losses
Carrying Forward the Loss
Illustration: The current year loss is 0, and deferred losses from FY23 is $12,526. If I enter $12,526 non-primary production deferred losses, it adds the amount to their taxable income, which isn’t correct since we are just carrying forward the loss, it shouldn’t change the taxable income.
Solution: you need to input the $12,576 and $-12,576 in Business > Business Income & Expenses tab.
Input also the $12,576 amount in Business > Deferred Losses tab.
Then, please input $12,576 via Item I under Business > Business Loss Activity Details tab.
Related Guide: