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Kind of complicated question buy I will give it a go. Had a

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final corp return for 2009...
Kind of complicated question buy I will give it a go. Had a final corp return for 2009 that showed a substantial loss. Because of an issue with my then partner, return did not get finished and filed until 2015. Was unable to file personals until corp return was finished. Filed those in 2016 and used the loss on each one. IRS did not accept the loss.
Submitted: 1 year ago.Category: Tax
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3/7/2016
Tax Professional: Tax-Scholar, CPA replied 1 year ago
Tax-Scholar
Category: Tax
Satisfied Customers: 89
Experience: Helping customers comply with and plan for income taxes
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Hello Sioux Boy - I would need more information to really get to the bottom of this. However there is a three year statute of limitation for filing tax returns. It is possible the IRS is not accepting your 2009 loss year return. Technically the statute does not start until a compete return is filled. However the IRS is not expecting returns from 2009. It might take them an extra 3-6 months to get through the 2009 return and decide what they want to do with it. This will cause a notice then when you try to claim these losses on your personal return. Not filing your returns for this long can create a real mess. Good luck. Also I assume you mean your S Corporation?

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