Welcome Guest. Register Now!  



 
 
LinkBack Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
  #1 (permalink)  
Old 02-21-2014, 12:59 AM
Junior Member
 
Join Date: Jul 2013
Posts: 21
Net Carry Over Loss on Foreclosed Residential Property

Hello Experts,

Please help me, I think I'm in hot waters.

I foreclosed a property, our residence in Torrance, CA last 2009. My first preparer by the name of Preparer A then reported the loss of $300,000 but did not touch my gross wages.

Now I heard that this (another) preparer, Preparer B can use my foreclosure so at least I could have refund.

So I amended my 2009 last 2012. However, later in 2013, I received a letter of disallowance from the IRS.

I let Preparer B do my returns for 2011 and 2012. My 2011 return did not have any net loss thereon. However, my 2012 had still some $100,000 carry over losses.

Since, I received that disallowance I have decided to look for another preparer.

My concern is about my 2013 return. Should I let my NEW tax preparer, Preparer C ignore the carryover loss OR should I go on applying the carry over losses.

Before I could do my taxes on my own, but this time it's beyond me.

I am having audit nightmares already!

Please help me



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
 



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Self Employment Tax During Tax Loss Carry Forward Period waylon Income 1 10-21-2013 02:52 PM
Amend 2009 return and carry over a loss to 2013? niklasjn Capital Gains 0 09-13-2013 12:18 PM
How does a capital loss carry-over from an amended return? niklasjn Capital Gains 0 09-13-2013 12:12 PM
Depreciation on Residential Rental Property cja2 Homeowner Tax 0 04-08-2012 01:07 AM
Form 6781 and line 6 (whether to carry back loss) 6781 Capital Gains 0 08-05-2007 01:45 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.