Question
Question 13
Question 14
Question 15
A taxpayer may elect to waive the carryback period for a NOL by: Question 13 of 15 A taxpayer may elect to waive the carryback period for a NOL by: O Attaching a statement to the return for the carryforward year. O Filing an amendment for the NOL year return. O Attaching a statement to the tax return for the loss year, filed on or before the due date, including extensions O Filing an amendment claiming the election for the carryback year. Mark for follow up Question 14 of 15. If the taxpayer carries a NOL forward to a tax year after the NOL year: O The NOL deduction is listed as a negative figure on the form from which the loss was derived. 0 The NOL deduction is listed as a negative amount on Form 1040, line 21. 0 The NOL deduction is listed as a negative figure on Schedule A not subyect to the 2% limitation. O The NOL deduction is listed as a negative figure on Schedule D. Mark for follow up Question 15 of 15. In a NOL carryback year, the NOL is combined with the AGI from the return as ong ally iled or amended. All of the following item ed deductions are recomputed based on e new A EX O O casualty and theft loss deduction. Miscellaneous itemized deductions subject to the 2%-ofAGI limitation. Medical expenses
Explanation / Answer
Question 13:
Question 14:
Question 15:
Attaching a statement to the tax return for the loss year, filed on or before the due date, including extensions.
