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fish
Level 4
June 6, 2022

Missed NOL 1120 Corporate election can you amend

  • June 6, 2022
  • 1 reply
  • 7 views

Corporation ending 6/30/21, filed 2020 tax return without checking the box to forgo carryback and carryover NOL. Can you amend the 1120 and check the box to  forgo carryback and carryover loss? 

There is a list of elections that can be amended but I cannot locate it. 

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    1 reply

    sjrcpa
    sjrcpa
    Level 15
    June 6, 2022

    No. This election needs to be made on a timely filed return.

    The more I know the more I don’t know.
      F
      fishAuthor
      Level 4
      June 6, 2022

      thank you, looks like there is a 6 month window but that is lost as well. 

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