ev1921
Level 1
09-12-2021
10:47 AM
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IRonMaN
Level 15
09-12-2021
10:50 AM
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A Sub S doesn't have loss carryovers. An individual may have loss carryovers generated from an 1120S, but a Sub S never does.
Slava Ukraini!
abctax55
Level 15
09-12-2021
11:24 AM
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Or maybe there are "losses limited due to basis restrictions" carried over on the individual return, but Jeff is (again, still) correct.
The 1120-S doesn't have loss carryovers.
HumanKind... Be Both