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Arthur Rubin
Arthur Rubin, Tax Preparer
Category: Tax
Satisfied Customers: 1493
Experience:  22 years of tax preparation experience, including individual, trust, and estate returns.
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I would like to get more information on calculating NOL.

Customer Question

I would like to get more information on calculating AMT NOL. Is that somethign that you can help with?
JA: The Accountant will know how to help. Please tell me more so we can help you best.
Customer: Before we go into details- can you let me know the fee structure i.e. what will this cost to receive the help?
JA: You just pay a $5 deposit now and the rest only when you get a reply from the Accountant. All of this is 100% satisfaction guaranteed, so you can get a refund if you're not happy for any reason.
Customer: o.k- I have a NOL of $51,000 but have only claimed $3,000 for tax purposes and want to know if I can claim more under Alternative Minimum tax NOL.
JA: Anything else I can tell the Accountant before I connect you two?
Customer: no thnaks
JA: I think I may have missed something. Could you explain?
Customer: I would like to get help or assistance with how to calcualte Alternative minimum tac net operating loss
JA: I'm sending you to a secure page on JustAnswer so you can place the $5 fully refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and connect you two.
Submitted: 6 months ago.
Category: Tax
Expert:  Arthur Rubin replied 6 months ago.
Thank you for using Just Answer. I'll give some general information, as it's not clear exactly what you need. You already know how you calculate the NOL; the lesser of the negative amounts of total income and total business income less business income. You use the same formula to calculate the AMT NOL; the lesser of the negative amounts of AMT income (form 6251 line 28) and the same amount calculated only using business income and expenses. The instructions say to start with the total and back out all non-business income, with additional modifiers if you have a capital loss carryover or other tax attributes which are affected by the amount of negative income. Again, please don't hesitate to ask for more specific information.