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Old 03-25-2015, 11:57 AM
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Proof of NOL CarryForward

The AGI on my 2013 1040 is (10,863). I attached a waiver to say I would carry this forward when I filed that return. What documentation do I have to attach to my 2014 return to show how this amount was figured. My tax program automatically moved the (10,863) I entered to line 21 of my 1040 with the Word NOL.



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Old 03-25-2015, 07:07 PM
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Originally Posted by kentwoodjean View Post
The AGI on my 2013 1040 is (10,863). I attached a waiver to say I would carry this forward when I filed that return. What documentation do I have to attach to my 2014 return to show how this amount was figured. My tax program automatically moved the (10,863) I entered to line 21 of my 1040 with the Word NOL.
So, Carryforward for Non-Corporate Taxpayers is much less complicated.your return software,i.e., ProSeries , makes this calculation automatically for you You simply list the NOL deduction as a negative figure on line 21, Form 1040. Your software should probably bring forward an NOL carryforward schedule that will serve as an explanation. If not, something as simple as;if not, you have to attach a statement to your return that shows how you calculated the NOL, I mean worksheets. Attach a computation of your NOL using Sch A (Form 1045) and, if it applies, your NOL carryover using Sch B (Form 1045). The NOL that you carryforward to 2014 will not reduce any SE income, only regular income



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