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We have a NOL on our 2012 Form 5500 of negative $250,000+.

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How much of this NOL...
We have a NOL on our 2012 Form 5500 of negative $250,000+. How much of this NOL can we deduct from our 2015 income on our Form 1040?
Submitted: 1 year ago.Category: Tax
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Answered in 42 minutes by:
4/5/2016
Tax Professional: Jonathan Tierney, Certified Public Accountant (CPA) replied 1 year ago
Jonathan Tierney
Jonathan Tierney, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 322
Experience: Tax Accountant at Praxair, Inc.
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Hi, my name is ***** ***** I can help. Form 5500 is used to report employee benefit plans. Most plans are either tax-deferred or Roth-type plans where the contributions are paid after tax but the investment earnings are tax-free if certain conditions are met. Is the NOL you are talking about in a retirement plan?
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