Can i still carryback an old loss (2013) to years 2012 and 2011? I'm in desperate need of extreme Laymans advice on loss carryback.
I'm currently filing new returns for 2 currently unfiled tax years , 2011 and 2012.
I have never filed the above years, but I had filed years 2014 and 2013 on time. Each of these years (2013 and 2014) had an NOL. (on line 41). I never signed or attached anything to either of these returns (2013 and 2014) regarding the losses at the time I filed. And have not ever carried anything forward or back from them.
I'm still crunching numbers , but am estimating some profits for both 2011 and 2012.
Is it too late to carryback the losses from 2013 and/or 2014? If not too late, Can they be carried back to 2011 and 2012?
Since I have not yet filed any returns at all for 2011 and 2012 (in otherwords, I'm not filing amended returns), what would I attach to them to show I was carrying back losses to them..?
(*Even just the losses from one or the other of the years 2013 or 2014 should be enough to cover profits for both 2011 and 2012 (so if easier I could just carryback one of the years, for example 2013, to both 2011 and 2012))
I'm broke ..I don't have any money to consult with a tax attorney, and called the IRS but they said they couldn't help on this since its not the filing period. If anyone can give me extreme Laymans answers or just point me in right direction I would be so grateful. .... I'm fairly competent at filing basic returns but so far the NOL topic is a bit over my head...
Last edited by Missm : 09-17-2016 at 03:08 PM.
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