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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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CA NOL carryback election
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LSTAX
Level 4
10-15-2021
03:40 PM
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For NOLs that arise in 2020 the default is to carryback the NOL unless you make the election to forgo the carryback. Do you need to elect to forgo the carryback for California or make any other entries?
Thank you
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George4Tacks
Level 15
10-15-2021
09:26 PM
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When all else fails, read the instructions https://www.ftb.ca.gov/forms/2020/2020-3805v-instructions.html
Answers are easy. Questions are hard!
