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The IRS audited me all the way back to 1997 when I had a
The IRS audited me all the way back to 1997 when I had a huge loss carry forward. It wiped out $5.7 million in loss carry forwards. It stated that it can go back to the year in which the loss carry fo… read more
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For tax year 2015, I had a foreclosure on rental property
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I bought an existing business from an LLC in 2012 and
Hello, I bought an existing business from an LLC in 2012 and paid $30,000 in cash for it. There were no cash or tangible asseets. I created a new LLC, ran it for a couple of years with operating losse… read more
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Hello Mr. Ellis, if i have a loss to ordinary income from the
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26 U.S.C. 172(a)(G) with respect to determining the value of
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Hello Lane, Please clarify how use NOL from 2012 in 2013. As
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An LLC corporation owned by 2 individuals operate a small finace
An LLC corporation owned by 2 individuals operate a small finace company dealing in auto contracts. They loaned a dealer some $200,000 4 years ago. Dealer filed BK 7 (discharged) owing LLC $212,000 To… read more
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I was a farmer in Lexington Ky. from 1984 and showed my first
I was a farmer in Lexington Ky. from 1984 and showed my first net operaing loss of (1,855,000) and continued to show net operating losses through 1990 of total NOL of ($6,028,000). In 1991 I had a far… read more
jgordosea
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We had an old 2008 IRS balance due of about 3,000.00. It was
We had an old 2008 IRS balance due of about 3,000.00. It was never paid. We had a start-up business on 2010 with a loss of approx. 67,000.00. The next year we had a loss, but only 7,000. Do we still h… read more
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On my 2010 return, I had a net loss. I disposed of a rental
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I opened a restaurant with 2 partners in 2010. The venture
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Do I have to file a tax return Situation I have only
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I was victim of a fraud in late 2003 where I sent some currency
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I am a freelancer on a 1099. After doing my taxes, I see that
I am a freelancer on a 1099. After doing my taxes, I see that I owe the 15.3% fed and state taxes which come out to be $3835. However, it also comes to my attention that I have a NOL of just over $200… read more
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I have received business loss credit on my s corp (personal
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I work and have a business. I got an extension for ...
I work and have a business. I got an extension for filing 2006 taxes. I still did not file them. I think I do not owe any taxes that year, due to having a net loss. I have some carry forward losses fr… read more
Lev
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Have NOL of 56,000 from past 4 years, my accountant never ...
Have NOL of 56,000 from past 4 years, my accountant never carried the amount forward, he did on the taxes but never filled out the form. I''m married now and want to carry it forward. I called the acc… read more
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