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  • 1.  NOL

    Posted 03-18-2014 11:46 AM
    Taxpayer had an NOL in 2012 caused by a large Sch E loss; a 1045 (p.2) was included with return, with election to carryforward the NOL. We will be able to use it in 2013. I believe it's sufficient to just rehash the 2012 1045 info (Prior yr negative taxable income + Non-business deductions + Non-business income), to comply with requirement to 'explain' the NOL. Agree?


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    Martin Cohen
    MARTIN H. COHEN, CPA
    West Hempstead NY

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  • 2.  RE:NOL

    Platinum Most Valuable Member
    Posted 03-19-2014 11:34 PM
    Sounds good Marty.

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    Robert Brown
    ROBERT N. BROWN, CPA
    Jericho NY

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