in Education
You'll need to sign in or create an account to connect with an expert.
also note that the loss can only be carried to 2020 if you included an election to waive the carryback of your NOL with a timely filed 2019 return. if you didn't make that election then under the Cares Act the loss would first have to be carried back to 2014 with any remaining carried forward to succeeding years.
Mike, there is a provision to "waive the carryback" for a 2019 NOL until the due date of the 2020 tax return.
FYI ... not even professional tax programs will independently compute an NOL carryover or carry back due to the intricacies involved.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
dmac006
New Member
in Education
mgc6288
Level 4
Aspirin756
Level 3
jdxray
Level 3
Abraham123
New Member