Solved
Individual missed NOL election 2 previous yrs returns have NOL's as well. Would you file amd returns to cb the loss to show no benefit or can just carry the loss forward?
Individual filed return late so missed election to carry loss forward only. Carrying loss back generates no tax benefit or additional tax due. do you think you need to file the amended returns to show that to the IRS and do you feel the amended returns are not needed and you can carry the loss forward? Preparing the amended returns show no loss will be used and it all will be carried forward.
Thank You
