Form 1045 NOL carryback—amount to carry over to subsequent years

When carrying the NOL back to the earliest year, the Carryover Summary and NOL Worksheets don't show the excess NOL carryback amount as a carryover to the next year.

Explanation

When using Form 1045 to carry back a net operating loss, the carryforward amounts should be pulled from Form 1045, Schedule B, line 10, in the year in which the NOL is generated. For this reason, the NOL Worksheets and the Carryover Summary won't be completed in the year to which the NOL is carried back.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close