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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.
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- How do I show NOL previously carried back via 1045 when amending a return?
How do I show NOL previously carried back via 1045 when amending a return?
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TaxAssoc85
Level 1
05-17-2022
02:02 PM
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Here's the situation - I previously prepared and filed two 1045s for 2019 and 2020 NOLS to be carried back to 2014 and 2015, respectively. They were filed on time and refunds have been received.
Just now my client sent over two significant 1099-Rs for '19 and '20 and I need to amend those years. How do I show on the amended return that the NOL generated on the original return was carried back via form 1045 and any refund/amount owed should take into account no NOL for the years being amended?
I'm having trouble finding any guidance online on how to take into account refunds received thru carryback NOLs when amending.
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