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Investors & landlords
NO, you can't "opt out" or lie on your tax return because you don't want it.
Is this on your 2016 tax return? If so, it is too late to "waive the carryback". The ONLY way to use the NOL is to amend your 2014 tax return to use it. In the event the NOL is not used up in 2014, it would carry to 2015, then 2017. However, I suspect that the NOL will probably be used up in 2014 or 2015, in which case it won't affect your 2017 tax return at all.
Is this on your 2016 tax return? If so, it is too late to "waive the carryback". The ONLY way to use the NOL is to amend your 2014 tax return to use it. In the event the NOL is not used up in 2014, it would carry to 2015, then 2017. However, I suspect that the NOL will probably be used up in 2014 or 2015, in which case it won't affect your 2017 tax return at all.
‎June 5, 2019
11:16 PM