Patrick Michael Posted March 28, 2016 Report Share Posted March 28, 2016 When carrying back a NOL do you have to go back two years or can you can go back to the last year only. For instance, TP has a NOL for 2015. Can you apply the NOL to 2014 (which will use up the entire NOL) or do you have to go back to 2013? Thanks. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted March 28, 2016 Report Share Posted March 28, 2016 Must go back to the 2nd earlier year first (2013), and from there if there is any remaining NOL it would be applied to the immediately preceding year (2014). 1 Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted March 29, 2016 Report Share Posted March 29, 2016 Judy is right you MUST go back the two years which is 2013 and follow her instructions. 1 Quote Link to comment Share on other sites More sharing options...
Patrick Michael Posted March 29, 2016 Author Report Share Posted March 29, 2016 Thanks Judy and Terry. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.