Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Where on the 1040 do you deduct S Corp suspended losses from prior years?

Tenn Jeff
Level 2
 
Labels (1)
0 Cheers
4 Replies 4
sjrcpa
Level 15

The same place you would for current year losses that are not suspended.


ex-AllStar
0 Cheers
Tenn Jeff
Level 2

Thus, you would show on Schedule E or would you show as an NOL?  Just trying to get the "box" like the govt folks!

0 Cheers
sjrcpa
Level 15

Schedule E


ex-AllStar
0 Cheers
dkh
Level 12

No not as an NOL    Schedule E page 2 has a place to check - Line 27 - that you are deducting prior unallowed loss