kaquil6789
Level 1
03-16-2020
08:51 AM
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Filed Form 1120 TYE 12/2017 which had a NOL. return was filed by due date.
Did not elect to forego the carryback period.
Can an Amended Form 1120X still be filed for TYE 12/2015 to take advantage of the NOL from 2017?
If not, can Form 1120 TYE 12/2017 be amended to elect the Forego of NOL carryback and carryforward the NOL from 2017?
Ken A.
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sjrcpa
Level 15
03-17-2020
12:23 PM
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Election to forego the carryback had to be made on a timely filed return.
You can still carry back the 2017 NOL to 2015. You have 3 years from the due date, including extensions, of the year of the NOL to do the carryback.
The more I know the more I don’t know.
kaquil6789
Level 1
04-04-2020
09:09 AM
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Thank you. This was just to get a confirmation on the NOL carry forward.
sjrcpa
Level 15
04-04-2020
10:20 AM
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You're welcome.
The more I know the more I don’t know.
