Answered: Re: NOL carryback

earl_garrison · ‎10-13-2021

I just amended a 2019 Form 1040 which created an NOL. Can I still carry that NOL back to 2014 under the CARES Act? The 2014 income tax return was extended until October 15, 2015.

BobKamman · ‎10-13-2021

The SOL for 2019 returns that were due 4/15/20 expires on 4/15/23. Same date applies to carrybacks from 2019.

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sjrcpa · ‎10-13-2021

Yes you can. The point of reference is the 2019 NOL not the 2014 carryback year.

The more I know, the more I don't know.

earl_garrison · ‎10-13-2021

But don't I have to get this postmarked by October 15? Two days?

earl_garrison · ‎10-13-2021

But only 2 more days to get it postmarked?

sjrcpa · ‎10-13-2021

No. 3 years from the due date, or extended due date if applicable, of the 2019 return.

The more I know, the more I don't know.

BobKamman · ‎10-13-2021

The SOL for 2019 returns that were due 4/15/20 expires on 4/15/23. Same date applies to carrybacks from 2019.

earl_garrison · ‎10-14-2021

Thanks so much for the response. I appreciate it.

NOL carryback

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