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SueJohnson
Level 4
April 3, 2020
Question

Where do I find carryforward net operating losses (NOL's) for MLP or LP in an IRA?

My brokerage firm sent a letter saying it might have to file Form 990-T forms on some of my MLP or LP holdings in my IRA and asked me to review any carryforward net operating losses.  But where do I find this?

    4 replies

    macuser_22
    Alumni - Champ
    macuser_22Alumni - Champ
    Alumni - Champ
    April 3, 2020

    Are you self-employed and file a Schedule C and had a loss in 2018?

    **Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
    SueJohnsonAuthor
    Level 4
    April 7, 2020

    no

    macuser_22
    Alumni - Champ
    macuser_22Alumni - Champ
    Alumni - Champ
    April 7, 2020

    Then you would not have any.  NOL's are business losses that exceed net income from the business.

    **Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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