Question
2023 Amendment for missing NOL, FTC, Long-Term Capital Loss
Hi,
I need to file a 2023 amended tax return for a client. The original return did not include the following items:
- Net operating loss (NOL) of $31,495 (from 2005–2016)
- Long-term capital loss carryforward of $86,250
- Foreign tax credit (FTC) carryforward from 2012
I am not the original tax preparer. I first recreated the 2023 tax return based on the original filing and then made a copy to prepare the amendment.
Could you please advise on the proper way to input the NOL in the amended return? I have records of the NOL carryforward amounts from 2005 through 2016.
Also, I overrode some amounts on Form 1116, and I am now unable to print the form. Could you please advise how to resolve this issue?
Thank you,
Iris Bang
