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Is it too late to file a NOL for 2012 refund. I have file an
Is it too late to file a NOL for 2012 refund. I have file an amended return in June 2018 for tax year 2012 (form 1040X) due to NOL carryover from tax year 2014. As per attach, the IRS notice indicate … read more
taxmanrog
taxmanrog
Master's Degree
1,763 satisfied customers
A taxpayer has a net operating loss of 48k on his 2014 Form
A taxpayer has a net operating loss of 48k on his 2014 Form 1040. He forgets to elect not to carry it back. He is going to be filing his 2015 Form 1040 on Monday. Should he amend his 2014 return to in… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,978 satisfied customers
Can I amend my 2014 tax to include announcing to carry
Can I amend my 2014 tax to include announcing to carry forward an NOL from that year? … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,340 satisfied customers
I am an individual in an unfortunate and unique tax
I am an individual in an unfortunate and unique tax circumstance. The situation can be described as being a wishful thinker for success and having an utter fear of tax inequality and maltreatment from… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
7,239 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
7,239 satisfied customers
Have an NOL of $26,875. If I carryback the loss to
Have an NOL for 2014 of $26,875. If I carryback the loss to 2012 - it will have no tax effect because although Adjusted gross income is $50,786, taxable income after itemized deductions and exemptions… read more
PDtax
PDtax
Owner
Master's Degree
4,884 satisfied customers
PDtax, You may recall that I just filed a 2012 NY Form
HiCustomer You may recall that I just filed a 2012 NY Form CT-3 for a Fed S Corp and reported a Net Operating Loss. Now I am filing the 2013 NY Form CT-3. The 2013 FTI is far in excess of $10,000. A r… read more
PDtax
PDtax
Owner
Master's Degree
4,884 satisfied customers
I have had 2 opinions and wanted a 3rd. I am filing my 2014
I have had 2 opinions and wanted a 3rd. I am filing my 2014 taxes soon. I need to file a NOL carryback but the only year that can be amended for a credit is 2011.... There is a part that says "3 years… read more
PDtax
PDtax
Owner
Master's Degree
4,884 satisfied customers
In 2012 I sold a business property which resulted in an NOL.
In 2012 I sold a business property which resulted in an NOL. I will carryback to 2010 and 2011. So I have to file 1040X for those 2 years. I did not already do so because I only became aware of the ca… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,659 satisfied customers
I filed form 4797 in 2012 and it carried a loss to line 14
I filed form 4797 in 2012 and it carried a loss to line 14 of my 1040 greater than my income. I appear to have a NOL, but do not know how to carry back the loss to previous years or carry it forward. … read more
Tax.appeal.168
Tax.appeal.168
Principal
6,411 satisfied customers
Hi, I started a business in 2008. We filled 1040. In 2008,
Hi, I started a business in 2008. We filled 1040. In 2008, we have a big profit. Also joint income against w-2. In 2009, we have loss that we claimed. In 2010 and 2011, we have big losses. We have not… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,882 satisfied customers
Client foreclosed on their rental property in 2009. An NOL
Client foreclosed on their rental property in 2009. An NOL occurred as a result. In that same year they completed a loan modification on another rental -- a 1099-C was received. I am completing Form 9… read more
Jax Tax
Jax Tax
Senior Tax Attorney
Master's Degree
1,394 satisfied customers
Hi-- Thank you for your assistance on my earlier question.
Hi-- Thank you for your assistance on my earlier question. I have another question. Background: I am filing my 2007 personal income tax return because I have an NOL due to casualty/theft. In April 200… read more
geedubya55
geedubya55
Owner
Bachelor
171 satisfied customers
I have a loss of 61k on a schedule c business that i started
I have a loss of 61k on a schedule c business that i started in 2009. I have a large outstanding tax debt in 2008 from cashing in ira's. i understand that i can take that loss to a previous year. The … read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
Hello Rubin, I have read your response the the NOL carryback
Hello Rubin, I have read your response the the NOL carryback written about 1 year ago (to the day almost). It was very informative. Again I have an NOL for Individuals question. I have also read the 5… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,278 satisfied customers
how do i handle a business loss can I carry it forward backwards
how do i handle a business loss? can I carry it forward? backwards? is there a limit (e.g., $250,000 loss in one year with only an average $30,000 to $35,000 normal income)?… read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
In 2006 I had a NOL on my share of interest in a partnership
In 2006 I had a NOL on my share of interest in a partnership of $41,000. In 2007, I sold my interest in the partnership for $27,000. Can I apply the previous year's loss (NOL carryforward) to offset m… read more
JKCPA
JKCPA
Certified Public Accountant (CPA)
Bachelor's Degree
1,809 satisfied customers
My situation I havent had any significant income since 2005.
My situation: I haven't had any significant income since 2005. I'm trying to finish my 2007 income taxes (using Turbo Tax Home & Business). I'm not going to owe anything so I haven't been in a real hu… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
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