nolanm
Level 4
08-13-2021
12:42 PM
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Hi all
TP self prepared in 2019 and showed a loss on Schedule E of $35k. Took the $25k loss in 2019 and showed a disallowed loss in 2019 return of $10k. I believe I can carry forward to 2020 but am not sure where to enter it. I used the Federal Carryover Worksheet and entered the $10k into Line 14a - Net operating loss available to carry forward.
Any views if this is correct? Does this qualify as an NOL and if not where do I enter the $10k. E was a rental property with deprecation and other costs way exceeding rental income.
Thanks for any help
Nolan
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