grandmabee Posted March 4, 2008 Report Share Posted March 4, 2008 I thought I read here about problems with the NOL carryforward with atx. Does anyone know about this. I have NOL carryforward of about 125,000 Shoul the entire125,00 loss go on line 21 and work what's left over to carryforward. There is no loss this year just the carryforward. Quote Link to comment Share on other sites More sharing options...
Maribeth Posted March 4, 2008 Report Share Posted March 4, 2008 I thought I read here about problems with the NOL carryforward with atx. Does anyone know about this. I have NOL carryforward of about 125,000 Shoul the entire125,00 loss go on line 21 and work what's left over to carryforward. There is no loss this year just the carryforward. The best way to approach the NOL carryfoward is to complete the 2007 return without the carryover. Then use Schedule B of Form 1045 to determine how much of the carryforward you will be using in 2007. That number then goes on line 21. The IRS does not want you to put the entire amount on line 21, only the amount that is currently being used. hth, Maribeth Quote Link to comment Share on other sites More sharing options...
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