If I am carrying back a 07 NOL to 05 then unused 07 NOL to 06, I assume when its say on Sch B "start with the earliest carry back year", I will start with 2005 correct?
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Yes, you will carryback to 2005 first, then carryfoward to 2006.Originally posted by AZ-Tax View Post
Remember that you can only use Form 1045 as an attachment to a 1040X for 2005 and 2006 now, since you have gone beyond the 12 month period when a 1045 can be used.
Maribeth -
Sch B is becoming a nightmare to complete.
Wow, I filed a 2005 1040X to carryback 07 NOL and the IRS now wants an 07 Sch B of form 1045 completed. I am close to matching the unused 07 NOL carrying over to 2006 (as stated on the 06 1040X) but still off. This Sch B form 1045 form instructions are so vague. Example: Line 6 basically says if you have no amts in line 3 or 4 above then disregard line 6 which I did then it goes on and says I need to adjust AGI for Student loan interest. When I entered the Student loan interest on line 6 Sch B form 1045, my carryover 07 NOL to 2006 has moved further away from matching my 06 1040X.
Anyone on this board specialize in this form?Comment
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