rebecca1965
Level 1
05-07-2020
01:13 PM
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Client has 2018 NOL with excess business loss limitation of $500,000. I need to file 2018 Form 1040X and file 2018 Form 1145 for the quick refund. How do I supress Form 461 limitation on 2018 Lacerte Program?
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George4Tacks
Level 15
05-07-2020
01:20 PM
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Start with the 1040X https://proconnect.intuit.com/community/lacerte-discussions/discussion/how-do-i-amend-2018-1040-to-s...
Then find the 1145? for carryback. Prepare it and fax to IRS https://www.irs.gov/newsroom/temporary-procedures-to-fax-certain-forms-1139-and-1045-due-to-covid-19 I am guessing that faxing the 1040x with a cover letter, followed by the 1045.
Answers are easy. Questions are hard!
