Question
Christina is a sole proprietor who sustained a non-farm net operating loss in 2019. Which is NOT an option for her? Waive the carryback period
Christina is a sole proprietor who sustained a non-farm net operating loss in 2019. Which is NOT an option for her?
Waive the carryback period by attaching an election statement to her timely-filed 2020 return.
Amend her 2019 return to attach a statement electing to waive the carryback period.
File Form 1040-X to carry the loss back to her 2014 return.
File Form 1045 by December 31, 2020 to carry the loss back to her 2014 return.
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Financial Accounting
Authors: David Spiceland, Wayne Thomas, Don Herrmann
4th edition
1259307956, 978-1259307959
