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New Member
posted Jun 4, 2019 3:28:18 PM

I have my transcripts from last year but I dont have my return. I Know that I have NOL carryover but I dont know exactly which is the amount that I have to include

is it my Net Long-Term loss?

0 2 1052
2 Replies
Level 9
Jun 4, 2019 3:28:19 PM

A "Net Long-Term loss" could result in a "Capital Loss Carryover".  Do you have that?  Or do you have a Net Operating Loss (NOL) which means your total income is negative (Line 41 of your Form 1040 would be negative)?

Level 15
Jun 4, 2019 3:28:20 PM

You have to do the calculations to compute the loss carry forward if you elected to forgo the carryback ... this may be a year you use a paid preparer if you are not sure what to do with this complex issue...

Form 1045: http://www.irs.gov/pub/irs-pdf/f1045.pdf

Instructions: http://www.irs.gov/pub/irs-pdf/i1045.pdf