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jrf1
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Acct failed to elect to carry forward a large loss so amended 2 previous returns.Didn’t use all the NOL.Is there a way to get the benefit or am I just out the money?

Wondering if there’s any way to get the benefit of loss since my CPA made the error.  My new CPA discovered the error a year later.

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Acct failed to elect to carry forward a large loss so amended 2 previous returns.Didn’t use all the NOL.Is there a way to get the benefit or am I just out the money?

If the NOL was not used up on the amended two tax returns (the two years before the NOL year), the rest of it is carried forward to the year after the NOL.

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Acct failed to elect to carry forward a large loss so amended 2 previous returns.Didn’t use all the NOL.Is there a way to get the benefit or am I just out the money?

If the NOL was not used up on the amended two tax returns (the two years before the NOL year), the rest of it is carried forward to the year after the NOL.

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