I have a client who has a loss for the year on his C corporation. I want to carry the loss forward to subsequent years. Other than checking the block on the 1120 form, is there anything else I need to do to indicate this?
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I've seen pro-forma statements for the election, but it's been my understanding that all which needs to be done is to check the box. I'll be interested in hearing from others if there are reasons to also include the statement, because I often recommend that clients forego the carryback."The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith
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