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schwartz's Posts

Yes. The carryover is noted on the NJ BUS-2 form but tax is computed on the gain less the carry over.

I also entered an amount in the State section but the losses are not being applied on the state. Just the federal.

ah. makes sense. thank so much for the direction. first time with a non-profit 🙂

Thank you- unfortunately, 3 years has passed and they have reapplied for the exempt status. Is current year all that is needed?