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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Indiana Estate Tax Return has NOL. Indiana Requiring a IT-40NOL attached to return
Indiana Estate Tax Return has NOL. Indiana Requiring a IT-40NOL attached to return
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Penni
Level 2
04-04-2021
09:04 PM
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Completing a final year 1041 tax return that has a net operating loss carryover. Since this is final year of reporting I am passing along net operating loss to the beneficiaries. When I go to the Indiana IT-41 it says I need to attach a Federal 1045 (not doing a carryback since 2019 was the first year) along with a IT-40NOL form. I am really confused over the IT-40NOL since that is an individual form and I do not have the necessary personal tax information for beneficiaries. Or am I to complete this with the Estate/Trust information?
Anyone have any information on this?
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