Question
In 2017, Mary incurred an NOL, carried her 2017 NOL back to 2015 and 2016, was able to deduct a portion of 2017 NOLin both
In 2017, Mary incurred an NOL, carried her 2017 NOL back to 2015 and 2016, was able to deduct a portion of 2017 NOLin both 2015 and 2016, and calculated an NOL carryover of ($17,574)on her 2017 Form 1045, Schedule B, to carryforward to 2018. Mary wants to deduct her unused 2017 NOL carryover in 2018. How would Mary deduct her carrforward NOL in 2018?
A. Report her NOL carryover of ($17,574) on her 2018 Form 1045, Schedule A.
B Report her NOL carryover of ($17,574) on her 2018 Form 1045, pages 1 and 2.
C Report her NOL carryover of (j$17,574) as a negative amount on Line 21as other income on her 2018 Form 1040
D. Report her NOL carryover of ($17,574) on her 2018 Form 1045, Schedule B.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started