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Mark Anderson
Mark Anderson, Tax Attorney
Category: Tax
Satisfied Customers: 541
Experience:  Tax attorney and accountant
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Here. I'm trying to file a 1040 and am

Customer Question

Hello. ***** ***** here. I'm trying to file a 1040 and am confused about NOL carryforward amount...
JA: Thanks. Can you give me any more details about your issue?
Customer: I'll try since I'm confused myself!
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Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
2012 was a pretty bad year, we had 1099-A and 1099-C totaling losses of -$116,802 on line 14 of our 10402013 those losses carried over on line 14 at the maximum allowed -$25,0002014 the losses went to -$2,825,000 due to another 1099-C for commercials buildings that were foreclosed on2015 I'm being asked to give an explanation for the NOL carryforward amount... is what I've detailed above sufficient? or is there more they might be looking for??
Customer: replied 1 year ago.
Also, how long with the loss carry over for? and, do I just keep providing the same explanation year after year?
Expert:  Mark Anderson replied 1 year ago.
It can be carried forward 20 years. Her is some information: