NOL Statement

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  • zeros
    Senior Member
    • Dec 2006
    • 921

    #1

    NOL Statement

    On the Form 1120, when there is a NOL, to "x" the box if you want to forego the carryback period and carry the loss forward instead. Is "x- ing" the block sufficient or do you also have to include any other declarations with the return declaring this?
  • taxea
    Senior Member
    • Nov 2005
    • 4292

    #2
    by checking the box your software should create the necessary election statement that is then included with the filing.
    Believe nothing you have not personally researched and verified.

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