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Level 1
March 23, 2022
Question

why won't form 1045 allow me to carryback 5 years?

  • March 23, 2022
  • 1 reply
  • 3 views

when I contacted tech support, they told me to pull up the form on the IRS website and attach it as a PDF.  Not cool.

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1 reply

rbynaker
Level 13
March 23, 2022

There are no more 5-year carrybacks.

So either you have a 2-year farm NOL carryback or you have a 2021 NOL carryforward or you are catching up on a 2020 NOL and it's too late to use the 1045 so you have to file 1040X for the carryback year.