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I have filed returns with NOL carryforwards. No rejections. What do I do with the first page of the 1045? What do I send to the IRS? 1045? A & B? For each year?

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Level 12

That calculation (such as schedule A from the year of the NOL) was supposed to be sent with the tax return.


You must attach a statement that shows all the important facts about the NOL. Your statement should include a computation showing how you figured the NOL deduction. If you deduct more than one NOL in the same year, your statement must cover each of them.

https://www.irs.gov/publications/p536#en_US_2018_publink1000177402



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Yes, 172 election to CF all years.  Use 1045 A & B to manually calc NOL & CF.  Entered into ProSeries CF wksht. How does IRS know my calcs are correct?
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Level 15
Annually they trust that you do things right. If they see something "out of line", then they select the return for audit and ask you to produce all computations and receipts for those things in question. Double check your work and keep a copy for the future.
It sounds like you have your ducks in a row.

ex-AllStar
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Level 12

That calculation (such as schedule A from the year of the NOL) was supposed to be sent with the tax return.


You must attach a statement that shows all the important facts about the NOL. Your statement should include a computation showing how you figured the NOL deduction. If you deduct more than one NOL in the same year, your statement must cover each of them.

https://www.irs.gov/publications/p536#en_US_2018_publink1000177402



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Many thanks to TaxGuyBill and others that responded to my NOL carryforward question.  The link gives the official IRS explanation for documentation required for carryforwards.  George4Tacks also clarified that the first page of the 1045 called "Application for Tentative Refund" is only used for a carryback situation that would result in a refund.  I am using the other pages of the 1045, Schedule A & B, to manually calculate and document the carryforward.
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Level 15
I'm surprised ProSeries doesn't provide a NOL calculation/worksheet for the current return.
Are you using the Basic or Professional version.
Former Chump... umm.... AllStar.
If a post answers your question, click on *Accept as solution* for future searches
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Level 8
Pro Series Professional has had an NOL worksheet for as long as I can remember. Hit F6 and start typing NOL and it appears.  There is also an NOL Classification worksheet.
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I have Pro Series Basic which apparently does not have an NOL Worksheet.  It does have a Carryover Worksheet but I have to manually calculate the NOLs and enter them in to the worksheet.  Once entered, they do auto-populate to the next year's return.  
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Level 15

1045 is for carryBACK not carryFORWARD. 

I am assuming from the first sentence that you have elected to NOT carryBACK and hence to carryFORWARD. Is that correct? I love these double negative elections. 


ex-AllStar
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Thanks
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