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I have multiple years of short term capital losses -
Hi. I have multiple years of short term capital losses - potentially totaling up to $200,000. How do I keep track of that (I've had three different accountants and it doesn't look like they did this??… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,536 satisfied customers
Where do I enter a loss carryover on an 1120S for 2018? It
Where do I enter a loss carryover on an 1120S for 2018? … read more
Lev
Lev
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36,842 satisfied customers
SOME TAX RETURNS LATE. 2015 HAS BUSINESS LOSSES BUT CAPITAL
I AM FILING SOME TAX RETURNS LATE. 2015 HAS BUSINESS LOSSES BUT CAPITAL GAINS. CAN i CARRY BACK BUSINESS LOSSES FROM 2016 AND 2017.? … read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,536 satisfied customers
Thanks for helping. I had a Net long-term loss from
Hi Pearl, thanks for helping. I had a Net long-term loss from Schedule(s) K-1 $82,414 but my income was so low, I didn't get to deduct it. Where on 2018 Schedule D I can report my loss? Thank you very… read more
Lev
Lev
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Bachelor's Degree Equivalent
36,842 satisfied customers
My client's dad passed on aaUGUST 4, 2017. He had a home
My client's dad passed on aaUGUST 4, 2017. He had a home worth $425,000 and $208,000 in the bank. No estate returns have been filed although the estate attormey obtained an EIN for the estate. ON 4/16… read more
Barbara
Barbara
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Should I amend s-corp previous years just to fix some
Should I amend s-corp previous years just to fix some numbers on the balance sheet on 1120s? Cleaning up the books and there's stuff like a nonrecourse loan mistakenly listed as a loan from shareholde… read more
PDtax
PDtax
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5,967 satisfied customers
Investment section says I have an $816 loss carryover from
Investment section says I have an $816 loss carryover from 2016. Where do I enter that loss? I have the 5 person return package. … read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,504 satisfied customers
I've been filing Sch C. Have an LLC open. Losses incurred go
I've been filing Sch C. Have an LLC open. Losses incurred go to 1040. Last year, have had no income therefore losses although reported on the 1040, have not been used to reduce taxes. Can I used 2016 … read more
Cole Parker
Cole Parker
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Bachelor's Degree
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My sister had a capital loss. She took $3000 in 2012 but did
My sister had a capital loss. She took $3000 in 2012 but did not file federal taxes again until last year and forgot about the capital loss which she is still entitled to. S … read more
Lev
Lev
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Bachelor's Degree Equivalent
36,842 satisfied customers
I have net short term stock sale gains in 2017 of $30,000.
Hello... I have net short term stock sale gains in 2017 of $30,000. Previously I have realized "booked" losses of $75,000, above previous gains. Without selling other stocks with unrealized losses, wh… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
36,842 satisfied customers
I am doing my 2016 taxes through Turbo Tax Premier. I have
Hi! I am doing my 2016 taxes through Turbo Tax Premier. I have K-1s that have a Section 1231 net loss. It is my understanding and I just read on your website that the loss can offset my ordinary incom… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,536 satisfied customers
I have a potential client who thinks he should have taken a
I have a potential client who thinks he should have taken a Net Operating Loss in 2013, 14, and 15. It is now after Oct 15 of 2016. He thinks his accountant erred in not working out NOL for his compan… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,191 satisfied customers
My daughter had a partnership that was dissolved in 2014.
Customer: ***** *****, My daughter had a partnership that was dissolved in 2014. She had a huge loss on her K1 that year. She was a 51% general partnet. The loss was from 3 bakeries that she had opera… read more
Mark D
Mark D
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1,338 satisfied customers
Preparing 2014 form 1040 and have form k-1 net capital gain
Preparing 2014 form 1040 and have form k-1 net capital gain totaling 4,500 that needs to be reported on form6781 and schedule d as 60% LTCG and 40% STCG. I am okay with 2014 reporting the IRS sec 1256… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
36,842 satisfied customers
When filing 1041 Trust, Schedule D, how do you handle the 2014
When filing 1041 Trust, Schedule D, how do you handle the 2014 capital gains loss? The final beneficiaries were paid out during 2014 so the capital gain loss should be distributed between the benefici… read more
PDtax
PDtax
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Master's Degree
5,967 satisfied customers
I am looking for clarity on NOL and Ln 11 (ATNOLD) on the 6251.
I am looking for clarity on NOL and Ln 11 (ATNOLD) on the 6251. I think I get it, but insecure. I am understanding business income and expenses are W-2 income, Rental Income and K-1, which is where th… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
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Trust has $8,000 in ord div ($7,000 qualified) and NSTCL -400
Trust has $8,000 in ord div ($7,000 qualified) and NSTCL -400 and NLTCL -$18,000. What should Form 1041 and Sch. K-1 to the beneficiary (individual) look like when complete? I am confused.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
36,842 satisfied customers
Hi, My client had a NOL from his 2007 K1 of -$53,343.00
Hi, My client had a NOL from his 2007 K1 of -$53,343.00 His At Risk Adjustment and Allowable Loss was -$2,099.00 On his 2008 return I do not see a NOL Carry Over or an At Risk Worksheet. Can I continu… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
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