fish
Level 3
‎06-06-2022 11:11 AM

Corporation ending 6/30/21, filed 2020 tax return without checking the box to forgo carryback and carryover NOL. Can you amend the 1120 and check the box to  forgo carryback and carryover loss? 

There is a list of elections that can be amended but I cannot locate it. 

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sjrcpa
Level 15
‎06-06-2022 11:21 AM

No. This election needs to be made on a timely filed return.


The more I know the more I don’t know.

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fish
Level 3
‎06-06-2022 11:33 AM

thank you, looks like there is a 6 month window but that is lost as well. 

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