siegead
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Thank you for that response.Do you know how to use TurboTax to apply to the IRS (and then state) for the look-back on NOL?
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As to "Did you file the election with your 2020 tax return to "Waive the Carryback" of the NOL?", certainly not consciously and frustrated that TurboTax didn't ...
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How does one 'force' the NOL into the Turbo Tax filing?I sold a property in 2020 and after the accumulated operating losses wiped out 2020's income (with an AGI...
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Thank you for responding ... however, I am simply showing a "0" in terms of business income and the overall tax filing is not showing any deduction to income.
Activity Feed for siegead
- Posted Re: Are all passive carryover losses on a rental property can be used in the year of the sale ONLY to offset the income of the last year? on Investors & landlords. February 22, 2022 12:24 PM
- Posted Re: Are all passive carryover losses on a rental property can be used in the year of the sale ONLY to offset the income of the last year? on Investors & landlords. December 27, 2021 7:46 PM
- Posted Re: Are all passive carryover losses on a rental property can be used in the year of the sale ONLY to offset the income of the last year? on Investors & landlords. December 27, 2021 10:37 AM
- Posted Thank you for responding ... however, I am simply showing... on Business & farm. June 4, 2019 5:12 PM
- Posted How to have Schedule C report loss for deducting from other income? on Business & farm. June 4, 2019 5:12 PM