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K
kaquil6789
Level 2
March 16, 2020

Form 1120 Tax Year end 2017

  • March 16, 2020
  • 1 reply
  • 13 views

Filed Form 1120 TYE 12/2017 which had a NOL.  return was filed by due date.

Did not elect to forego the carryback period.

Can an Amended Form 1120X still be filed for TYE 12/2015 to take advantage of the NOL from 2017?

If not, can Form 1120 TYE 12/2017 be amended to elect  the Forego of NOL carryback and carryforward the NOL from 2017?  

Ken A.

 

 

 

 

This topic has been closed for replies.

1 reply

sjrcpa
sjrcpa
Level 15
March 17, 2020

Election to forego the carryback had to be made on a timely filed return.

You can still carry back the 2017 NOL to 2015. You have 3 years from the due date, including extensions, of the year of the NOL to do the carryback.

The more I know the more I don’t know.
K
kaquil6789Author
Level 2
April 4, 2020

Thank you. This was just to get a confirmation on the NOL carry forward.

sjrcpa
sjrcpa
Level 15
April 4, 2020

You're welcome.

The more I know the more I don’t know.
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