Alternative Business Calculation Adustment-I need to have this removed from my taxes.

daisyduke0430 · ‎May 31, 2019

I closed the business over 3 years ago-but this is still showing on my turbotax.

ChristinaS · ‎May 31, 2019

NJ?

This is a carryforward. It doesn't stop carrying a business loss forward because you have closed a particular business.

Taxpayers may carryforward business-related losses during each of the 20 taxable years following the alternative business loss’ taxable year.

You shouldn't delete it. You have many years to use this loss against future business-type income.

ChristinaS · ‎May 31, 2019

NJ?

This is a carryforward. It doesn't stop carrying a business loss forward because you have closed a particular business.

Taxpayers may carryforward business-related losses during each of the 20 taxable years following the alternative business loss’ taxable year.

You shouldn't delete it. You have many years to use this loss against future business-type income.

Unlock tailored help options in your account.