I think I saw this question before, but haven't been able to find the discussion. I'm simplifying the question to get to the point - numbers are much different than in my example.
A corp has not filed its 2006, 2007, 2008, and 2009 returns.
Years 2006-2008 showed net profit of $1,000 each year
The 2009 year shows a net loss of $5.000.
Can the entire set be submitted and the $3,000 of loss carrybacks netted out on the 2006-2008 returns, or must all returns be submitted as things were at the time, and then form 1120X filed for 2006-2008 after the 2009 return is processed?
A corp has not filed its 2006, 2007, 2008, and 2009 returns.
Years 2006-2008 showed net profit of $1,000 each year
The 2009 year shows a net loss of $5.000.
Can the entire set be submitted and the $3,000 of loss carrybacks netted out on the 2006-2008 returns, or must all returns be submitted as things were at the time, and then form 1120X filed for 2006-2008 after the 2009 return is processed?
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