While calculating NOL carryforward from 2017, I found that my 2017 rental loss was higher than I reported. Do I need to file an amendment, or is an explanation enough?

posted

Connect with an expert

1 Best answer

Accepted Solutions

While calculating NOL carryforward from 2017, I found that my 2017 rental loss was higher than I reported. Do I need to file an amendment, or is an explanation enough?

You cannot increase a NOL with an explanation.

You would have to Amend the 2017 to make the tax changes and then you can increase the NOL.

View solution in original post

1 Reply

While calculating NOL carryforward from 2017, I found that my 2017 rental loss was higher than I reported. Do I need to file an amendment, or is an explanation enough?

You cannot increase a NOL with an explanation.

You would have to Amend the 2017 to make the tax changes and then you can increase the NOL.

Still have questions?