miatax Posted September 12, 2009 Report Share Posted September 12, 2009 I have another client who has a huge NOL carryover that is to expire in 2007. That return has been on extension but it lapsed. Now that I am helping him gather all the information to file 2007 and 2008 (which also had an extension) could IRS disallow NOL for exceeding the extension? I haven't found any information on that, but I wanted some feedback so I can tell my client what he may expect. Penalties and Int? but if he had income in 2007 and is carrying forward a loss, then what? Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted September 12, 2009 Report Share Posted September 12, 2009 The carryover should still be claimable for 2007. Quote Link to comment Share on other sites More sharing options...
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