vivianl78
Level 1

I did not attach the statement to waive the carryback last year since the NOL was from 2019. Per the Form 1045 instruction, it is now too late to file the amended return to attach the statement to waive the carryback.  

However, on the 1040x 2019 instruction (https://www.irs.gov/pub/irs-prior/i1040x--2019.pdf) page 6, “Net operating losses after 2017. Beginning with 2018 returns, the Tax Cuts and Jobs Tax (TCJA), section 13302, eliminated the option for most taxpayers to carry back a net operating loss (NOL). Most taxpayers can only carry NOLs arising from tax years ending after 2017 to later year.”

I would prefer carryover the NOL to future years instead.

Can anyone help me understand this? Thank you!

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