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I have a 2015 individual business loss and am trying to
I have a 2015 individual business loss and am trying to calculate the NOL as per schedule A of Form 1045. In 2015 I had a $20,000 non business capital loss and $5,000 non business capital gain. Natura… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,635 satisfied customers
I have had a large casualty loss (uninsured fire) in 2015.
I have had a large casualty loss (uninsured fire) in 2015. Thus on line 41 form 1040 for 2015, I have ended up with a large negative number of 330,000. I have elected to carry forward my NOL. Is it th… read more
PDtax
PDtax
Owner
Master's Degree
4,292 satisfied customers
Robin, I am carryingback a 2015 NOL to 2013. However, in
Hello Robin,I am carryingback a 2015 NOL to 2013. However, in addition to everything else, I need to file an amended Form 6251 for 2013. Do I put the 2015 NOL that I am carrying back to 2013 in Line 1… read more
Robin D.
Robin D.
Vocational, Technical or Trade School
16,102 satisfied customers
FOR AN TAX EXPERT ON CARRYBACK LOSSES AND FORM 8801, LINE 3.
I AM LOOKING FOR AN TAX EXPERT ON CARRYBACK LOSSES AND FORM 8801, LINE 3. PLEASE DO NOT ANSWER UNLESS CONFIDENT WITH THE ANSWER: I am looking for some advice on carryback losses – I am a CPA but am no… read more
Mark Taylor
Mark Taylor
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Masters
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I am looking for someone experienced in completing Form 1045
I am looking for someone experienced in completing Form 1045 Schedule A and B. I have a few questions....… read more
Marcia Mitrano
Marcia Mitrano
MBA
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In 2015 I made a substantial NOL. However I did not file a
In 2015 I made a substantial NOL. However I did not file a 1045 or file a statement to waive the election to carry the NOL forward. What should I do now? Ideally I would love to carry forward the NOL … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,635 satisfied customers
I had a net loss for 2015, the same for 2016. Should I carry
Hi, I had a net loss for 2015, the same for 2016. Should I carry forward the NOL even though I am already at a loss? My thought is that it would put me in a better position for 2017. It's worth noting… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,635 satisfied customers
Lane, I'm working on a client that has rental income and I'm
Hey Lane,I'm working on a client that has rental income and I'm uncertain on the California return. If they have a NOL carryover from previous years and you are choosing (not to use) the NOL carryover… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,374 satisfied customers
I own an S-corp company. I have no other investments. The
I own an S-corp company. I have no other investments. The past few years my Federal Tax was high and I arranged a payment plan with the IRS. This year my company lost a lot of money (over $100,000). W… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,635 satisfied customers
Can I carry an NOL from 2013 or 2014 to another tax
can I carry an NOL from 2013 or 2014 to another tax year...irs form 1045 is ambiguous on this topic....and if so can I use it in 2015 to lower my AGI… read more
PDtax
PDtax
Owner
Master's Degree
4,292 satisfied customers
Anyone available to answer question on amending tax for 2013
Anyone available to answer question on amending tax for 2013 net operating loss not carried back… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
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Tax Experts,NOL was reported in 2014 on my client's tax
Tax Experts,NOL was reported in 2014 on my client's tax return. Election to wave the NOL carryback period was filed in 2014 pursuant to IRS Sec 172 (b) (3). 2014 AGi was -359,000. I need to know which… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,635 satisfied customers
I have net operating loss (NOL). I plan to carry it forward.
I have net operating loss (NOL). I plan to carry it forward. Say my loss for 2015 was 300k. I "use up" 100k in 2015 to bring my total of line 41 of form 1040 to "0". I have remaining 200k (300k-100k).… read more
Jason M. Tyra, CPA
Jason M. Tyra, CPA
Principal
Master's Degree
168 satisfied customers
The 2015 Final 1041 created a NOL. If the estate is closed
for jonathan: The 2015 Final 1041 created a NOL. If the estate is closed and bank accounts are closed, is it still a good idea to carryback the losses?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,635 satisfied customers
Have some questions regarding liabilities I can include on
Have some questions regarding liabilities I can include on my insolvency worksheet for form 982Specifically I want to know can I include any of these items on the liability portion of the worksheet. (… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,635 satisfied customers
Will someone please provide an additional response to my
Will someone please provide an additional response to my question below: Original order ID: 15724922-827 - dated: 18 October 2015 12:56 I have waited over a day for the original tax advisor to respond… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,633 satisfied customers
My name is***** business K-1 has a loss that is higher
Hi, my name is***** business K-1 has a loss that is higher than my stock basis. I am wondering how I insure that I can carry the remaining loss forward to 2015… read more
ShawnA
ShawnA
CEO
Bachelor's Degree
2,450 satisfied customers
I have a Federal NOL created in 2012, from a NY source. I would
I have a Federal NOL created in 2012, from a NY source. I would like to carry it back to 2010. In 2010, for state purposes, the client is a NY non resident with only a small amount of NY income. Feder… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,635 satisfied customers
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