Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
On a prior year 1065 partnership tax return, an difference
Hi,On a prior year 1065 partnership tax return, an AMT difference was the wrong amount on a partner's k-1 and was carried over to the partner's personal tax return. The partner was not subject to the … read more
Carter McBride
Carter McBride
LLM
1,519 satisfied customers
If Company completes and audit (financial - not tax) and the
If Company completes and audit (financial - not tax) and the auditors post a prior period adjustment for a year closed for amendment, how does one notate the prior period change on the M-2 Reconciliat… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
2,214 satisfied customers
We have a NOL carryover on our federal income taxes. While I
We have a NOL carryover on our federal income taxes. While I was working on our taxes this week, I noticed an error was made in 2013, 2014 and 2015 in the calculation of the NOL carryover. I neglected… read more
PDtax
PDtax
Owner
Master's Degree
4,333 satisfied customers
Stephen,I have an NOL filing question. I have a single
Hi Stephen,I have an NOL filing question. I have a single member LLC who files a ;Schedule C. He has an NOL in 2013 and 2014. I know time has lapsed for filing a 2013 loss carryback. So I plan to file… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,646 satisfied customers
A little over my head here. I'm ready to tip accordingly. :)
A little over my head here. I'm ready to tip accordingly. :) A client closed their business (restaurant) after many years. The last few years were poor. They have been setup as a C-Corp since day one.… read more
Jonathan Tierney
Jonathan Tierney
MBA
295 satisfied customers
How far back can I amend my corporate tax? I forgot to carry
How far back can I amend my corporate tax? I forgot to carry over my 2011 losses and I don't need to carry back, do I have to? I need help completing it… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,469 satisfied customers
I am trying to calcuate an NOL Carryforward for an individual. The losses have flowed
I am trying to calcuate an AMT NOL Carryforward for an individual. The losses have flowed through on 1120S k-1's. I can't find any decent instructions on how to do so, and I'm not trusting my software… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
The background situation is: when calculating "After Carryback"
The background situation is: when calculating "After Carryback" Adjusted Gross Income within Form 1045 for the purpose of determining the impact of a NOL in a carryback year, the lower AGI results in … read more
taxmanrog
taxmanrog
Master's Degree
1,407 satisfied customers
I have a client that has a Net operating loss carryforward
I have a client that has a Net operating loss carryforward from 2010 to 2011 on their 1040 as a result of losses from an S-corp. Line 22 of the 2011 1040 shows a loss as well as line 37. What line do … read more
Anne
Anne
Master Tax Preparer
2,373 satisfied customers
For 2011 I had an NOL that was carried back to 2009. The 2011
For 2011 I had an NOL that was carried back to 2009. The 2011 NOL was created by a loss on a foreclosed rental and the corresponding suspended passive losses that were released due to the foreclosure.… read more
taxmanrog
taxmanrog
Master's Degree
1,407 satisfied customers
Is an Federal Amended return required to be filed if the changes
Is an Federal Amended return required to be filed if the changes required only affect the NOL carryforward? In other words, can I just update the NOL's on my current year return filed to reflect chang… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I have a client who needs to amend his 2009 individual income
I have a client who needs to amend his 2009 individual income tax return which will result in an increased NOL. He previously filed Form 1045 to carry back his original NOL to 2005 after filing the ap… read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
I need to prepare a 1045 Application for Tentative Refund
I need to prepare a 1045 Application for Tentative Refund Does Turbo Tax prepare this form… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,278 satisfied customers
We have a $10,000 NOL carryforward from 2008. On our 2009
We have a $10,000 NOL carryforward from 2008. On our 2009 1040, we have $40,000 of business income and $40,000 of itemized deductions, therefore, no tax due WITHOUT carrying forward the 2008 NOL. If I… read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
I had a NOL in 06. In 07 without using the NOL I had no taxes
I had a NOL in 06. In 07 without using the NOL I had no taxes due after deduction. I did not enter the loss on the other income line, Should I have? It would not have changed my tax. The next year I d… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,278 satisfied customers
I farrm , My question is how much of a prvious years NOL can
I farrm , My question is how much of a prvious year's NOL can you carry forward and use to offset this year's tax… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,469 satisfied customers
Our company has a history of losses which have recently been
Our company has a history of losses which have recently been absorbed and we are a current taxpayer. Since we had NOL's we did not claim certain tax credits in closed years that would have carried for… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
AMT NOL question. I have a large casualty loss deduction of
AMT NOL question. I have a large casualty loss deduction of about $1,000,000 exceeding my yearly income of $300,000: will the NOL amount (for carryover) be different under the AMT from the regular NOL… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x