Tag Archives: NOL

Net Operating Losses

Today TaxMama® hears from several people in the TaxQuips Forum about this topic. “Net Operating Losses have some special qualities that make them very desirable for tax purposes – even if they result from disasters in an economic sense. It’s important to understand how to use them, or you can waste them.”

Form 1045 NOL

Today TaxMama hears from Marvin in the TaxQuips Forum who needs clarification “On Form 1045, where I can carry net operating losses back for up to five years, in what order do I do that? Do I start with the 5th yr, then the 4th yr, then 3,2,1? Or do I start with the most […]

NOL carryforward

Today TaxMama hears from Judy in Washington state, with this question. “Could you please tell me how long a 1995 net operating loss can be carried forward?”