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Level 2
January 19, 2021
Question

I am trying to apply a net loss carryover from last year to this year's return. It is a partnership return. Can someone please help?

  • January 19, 2021
  • 2 replies
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2 replies

Level 15
January 19, 2021

Can you clarify what you mean by a "net loss carryover"?  Generally, losses are carried to the Partners via the K-1, so a loss would not be carried over on a Partnership return.

But there are other kinds of losses that could be carried over, so if you give more details, maybe somebody could help you.

Level 2
January 19, 2021

This is for their Franchise and Excise tax return for the state of Tennessee. They had a net operating loss that was able to be carried over from the prior year.