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After you file
we have no way of knowing. just because you report a business loss on your 1040 does not mean you have an NOL to carry forward or back. even if you have an NOL, if you did not make the election to forgo the NOL carryback period on a timely filed 2017 return, the NOL would first have to be carried back to 2015 then any remaining to 2016 and then any remaining to 2018 and so forth. also if you did not make the election to carry forward, the ability to file carryback claims for 2015 and 2016 and any NOL that would have been absorbed in those years are lost. if you did not timely file 2017, any NOL for that year is lost both as a carryback and carryforward.
to determine if you even had an NOL in 2017 use for 1045 schedule A.
‎September 23, 2021
4:51 PM