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Hurricane Harvey NOL carryback of 1 million ends up doing
Hurricane Harvey NOL carryback of 1 million ends up doing basically nothing. When it is carried back, the NOL is eaten up by alt min. In 2014, the client benefits by about $500, no change to 2015. Doe… read more
taxmanrog
taxmanrog
Master's Degree
2,954 satisfied customers
Can you help me to find NOL worksheet? Thank you. i just
Can you help me to find AMT NOL worksheet? Thank you. … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
4,994 satisfied customers
I have a client with a large NOL originating in 2013.In
I have a client with a large NOL originating in 2013.In 2015, his income is 98,000+, triggering AMT. I'm trying to figure the ATNOLD. Here is the 2015 6251 amounts: LIne 1 -154271. 1040 LN 41 Line 10 … read more
DanielleCPA
DanielleCPA
Certified Public Accountant
Bachelor's Degree
984 satisfied customers
As a result of a business loss (1120-S), my 2014 tax return
As a result of a business loss (1120-S), my 2014 tax return generated a net operating loss. I completed Form 1045 and sent to the IRS along with all the supporting docs (original and revised 6251 work… read more
PDtax
PDtax
Owner
Master's Degree
9,538 satisfied customers
Is NOL deduction subject to Alt Min tax on form 1040?
I am preparing an amended return for a 1040 filer to carryback a business NOL from a Schedule K (liquidating). The tax program I am working in is making the NOL deduction subject to Alt Min tax and so… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
the irs said I have to calculate the nol on a form 1045.
the irs said I have to calculate the amt nol on a form 1045. the loss happened in 2013 and i'm trying to take it back to 2011. which year am I trying to calculate the amy nol?… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
4,670 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
I reported a casualty loss due to a ponzi scheme theft for
I reported a casualty loss due to a ponzi scheme theft for tax year 2012. When I tried to carryback the NOL to tax year 2010 & 2011, I was now subject to AMT. I was told that there was a regular tax c… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
2,158 satisfied customers
Hi - for the first time, it appears I have to pay AMT. What
Hi - for the first time, it appears I have to pay AMT. What makes this year different is I had an IRA distribution of $57,000. Otherwise, I just have Social Security, and capital loss of $3,000 and ab… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,500 satisfied customers
2011 have a regular NOL .... trying to calculate what the AMT
2011 have a regular NOL .... trying to calculate what the AMT NOL for carryback / forward would be… read more
DanielleCPA
DanielleCPA
Certified Public Accountant
Bachelor's Degree
984 satisfied customers
Trying to fill form 6251(AMT) for tax year 2010.I have carry
Trying to fill form 6251(AMT) for tax year 2010.I have carry back NOL of $259,068 from the year 2011.Form 1040 line 41 (Taxable income) is $253,358 (after deducting the NOL and the itemized deductions… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
2,158 satisfied customers
I had a large ponzi scheme theft loss deduction in 2011,
i had a large ponzi scheme theft loss deduction in 2011, filled out form4684 using revenue procedure code 2009-20. took the deduction on my schedule a line 28 and now i am trying to do form 1045. i ha… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I have a NOL from 2008 that we took back to 2006 (but there
I have a NOL from 2008 that we took back to 2006 (but there was no income to offset it there) and then forward to 2009, where there was some income to offset it. Anyhow, I'm just a regular dude trying… read more
geedubya55
geedubya55
Owner
Bachelor
266 satisfied customers
Hi, I had a large Net Operating Loss several years ago that
Hi, I had a large Net Operating Loss several years ago that I am carrying forward. I list it as "Other Income" (a negative number), and I can use Form 1045 Schedule A to see how much is left over. In … read more
Stephanie B.
Stephanie B.
Accountant
Master's Degree
560 satisfied customers
I filed a 1045 for 2008 under the new code. I carried it back
I filed a 1045 for 2008 under the new code. I carried it back the loss in excess of $1,000, 000 to 2004 and 2005. The IRS refunded the entire amount for 2004 but applied the AMT to 2005. Now that I ha… read more
William Ellis, CPA
William Ellis, CPA
Master's Degree
232 satisfied customers
i have an nol from 2008 of $219520 which i (maybe mistakenly)
i have an nol from 2008 of $219520 which i (maybe mistakenly) carried back to 2005 when i had agi of 468605 and taxable income of 236209. in 2005 i had regular tax of 58537 and amt of 32137. when i ca… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
A client has a $215,000 loss in 2008 which we would like to
A client has a $215,000 loss in 2008 which we would like to file Form 1045 for a tentative refund for 2006. However, he had a $247,000 in income in 2006. When carrying back this NOL to 2006, it seems … read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
2,158 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
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