Bulletin 3/27/09 Nol Carryback

[81537]

I Have Indiv.client Who E-filed 3/4/09 2008 Return. 2006,2007,& 2008 Nol Elections To Forgo Carryback Were Made. I Set This 2008 Rtn.aside And Planned To Follow The "undo" Election Process And Carryback The Loss To 2003. Have I Missed The April 17,2009 Deadline For This Revocation & New Election ?? If So, Do I Have Any Other Options To Let This Process Work ??

[WhiteOleander]

I believe the election to forgo the carryback is irrevocable.

[Harvey Lucas]

I am working on that

very issue right now.

I am not sure what you mean by "2006, 2007, & 2008 nol elections to forgo carryback were made".

However, look at instructions for 1045 form, page 5.

There are very clear instructions on how to do and undo the nol election.

Harvey Lucas