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I am trying to carryback a 2019 NOL to 2018 return. How do I get lines 10 - 15 to print on the 2019 form 1045?

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Level 1
 
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9 Replies 9
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Level 12

First question ... is this a C-corporation that started in 2018?

If not, a 2019 NOL is carried back 5 years, so it would be carried to 2014.

 

Second question involves your phrase "to 2018 return".  You aren't actually re-filing 2018, right?  You are just preparing the Form 1045 in the 2019 software, right?

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Level 15

1045 is for individuals. 1139 is for corporations.

Bill is correct you have to go back 5 years first.


ex-AllStar
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I don't see anything in the instructions that say I have to go back 5 years?

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Level 1

My take on this is that you CAN go back 5 years to absorb the full NOL but you don't HAVE to. In my case, the entire NOL can be absorbed in the 2018 return.

Also, I still don't have an answer on why Lines 10 - 15 on the Form 1045 do not print. Do you you have any clue on that issue?

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Level 12

@JFG wrote:

My take on this is that you CAN go back 5 years to absorb the full NOL but you don't HAVE to.


No.  You can't pick-and-choose when to apply it.  It must be carried back 5 years.

As for your actual question, sorry, I'm a ProSeries user so I can't help you there.

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Level 1

1. It is not a C-Corp

2. No I am not refiling 2018, but the instructions said to go back to 2018 return and enter the NOL in screen 15

 

Another issue: when I do the step in 2 above, it creates a 6251 AMT amount; there was no AMT in the original return; it seems counter-intuitive to me that this should happen?

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You need to enter the AMT NOL, not just the regular tax NOL.

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Level 1

Where do I enter that? I entered it in Screen 15 of the 2018 return and an AMT was still created. Can I send you some PDFs?

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