Prior year NOL

[DTS]

I have a carryforward that is not needed this year. She is in minus territory before L21, but the NOL from 2003 is being utilized anyway.

Is it permissible to manually suspend this, keep track of this and carryforward the 2003 amount to a year when it is needed or do I have to leave it? She also has one for 2005.

Thank you,
Dennis

[Bees Knees]

The NOL carryforward must be used in each carryforward year. Part of it may get used up in the carryforward year, even though it is not needed. The remainder that is not used then gets carried forward to the following year.

It all depends on the calculations. TTB page 8-16 gives you a summary of how that calculation is made.