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Consolidated Return and E-filing

dd4vols
Level 9

Well, golly gee whiz, etc.... Just zooming along with this new inherited Consolidated 1120 C-Corp (yeha...next I'll see BigFoot).... and I get everything in balance...zip over to the Form 851... and wonder why it's not prefilling the major parent company stuff...then just start looking on page 1 for a box to check... So i find and check the box... and the dreaded....'NOT ELIGIBLE FOR E-FILING'  pops up.   I think the accountant (using the term loosely) e-filed it last year, with the Form 851 pages included... but didn't check the box on page 1 that it was a Consolidated return. 

So, I guess I am wondering...what makes this return not eligible? is there some top-secret info that a computer program couldn't sniff out?  

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3 Replies 3
IRonMaN
Level 15

Looks like the form 851 did you in:

https://myproconnect.intuit.com/releasedates

By the way, make sure you get some good clear pictures when you bump into Bigfoot.

Armpit sniffer. Yup, checked out the help wanted ads and found the job. With my nose, how can I go wrong?
dd4vols
Level 9

Soooo.....the plot thinnens...  This consolidated return has a big loss... which  must (if carried back), be carried back 5 years and then roll forward. So I input the info on the Form 1139 and it correctly preloads  the 5th yr column (2014), 4th yr column (2015) and 3rd yr column (2016)....but then it runs out of columns...no column for 2nd and 1st preceding years.  I don't use up all of the NOL in the 2014,2015, and 2016...and I can't find an add-on or anything for inputting info for 2017 and 2018.  Anyone come across this since the TJCA invoked the 5 yr carryback..and if so, your solution??

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IRonMaN
Level 15

I'm going to go with you go with a second 1139.  Fill out the first three years, print and then massage the form to get the final two years to flow.  But I haven't done one so this solution is based on a discussion I had with the last Bigfoot that I had the pleasure to meet.

Armpit sniffer. Yup, checked out the help wanted ads and found the job. With my nose, how can I go wrong?