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#2
06-02-2006, 04:59 AM
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 Re: carryover loss bill wrote: - quote - > If I had carryover loss for 2004 but didn't have enough
Yep.> income to file a return, can I use the carryover loss for > 2005 when I do have return to file? ChEAr$, Harlan Lunsford, EA n LA << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#1
03-24-2006, 06:19 AM
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| Re: carryover loss "bill" <bw1945[at]nospamnow.com> wrote: - quote - > If I had carryover loss for 2004 but didn't have enough
what type of return, 1040, 1120, etc?> income to file a return, can I use the carryover loss for > 2005 when I do have return to file? just an fyi - if you had ANY taxable income in 2004, that income will first be used to reduce the loss and whatever is left will carry into 2005. you'll need to file a 2004 tax return to show the loss carrying from 03 to 04 to 05. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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03-24-2006, 05:22 AM
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| Re: carryover loss bill wrote: - quote - > If I had carryover loss for 2004 but didn't have enough
You should have filled out the 2004 to 2005 Loss Carryover> income to file a return, can I use the carryover loss for > 2005 when I do have return to file? Worksheet to document the amount of loss to carry forward. You do not file the worksheet, but should have it in your files in case the return is questioned. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
03-23-2006, 06:18 AM
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| carryover loss If I had carryover loss for 2004 but didn't have enough income to file a return, can I use the carryover loss for 2005 when I do have return to file? bw << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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| carryover, loss |
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