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mbooska
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- Posted Ok, I'm not understanding you. How are we supposed to div... on Business & farm. June 6, 2019 8:24 AM
- Posted How do I make my NOL carryforward balance reflect the reduction of my ex-wife's use of the NOL that we are sharing? on Business & farm. June 6, 2019 8:24 AM
June 6, 2019
8:24 AM
Ok, I'm not understanding you. How are we supposed to divide the balance among us? We are both taking the 3,000 max so the balance is getting reduced by 6,000 each tax year. We agreed that I would use the nol carryforward for 3 tax years. Should I allocate the balance to myself for this total amount (ie $18,000) and the remaining balance would go on my ex's return?
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June 6, 2019
8:24 AM
My ex-wife and I are sharing a NOL carryforward from a previous business loss. Turbo tax is not recognizing the reduction of the carryforward balance for my ex-wife's NOL. For example the balance is only getting reduced by my NOL of 3,000 and not the 3,000 my ex-wife used. So the beginning balance for the 2017 tax year is overstated. I assume the IRS has the correct balance but want to make sure. Thanks.
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