NOL's

[grandmabee]

I have a nol carryforward from 2 previous years no loss this year. Do I put the entire NOL carryforward on line 21 or just what is used?

and do I have to attach a statement with the efile or does the worksheets go with the efile?

[Maribeth]

I have a nol carryforward from 2 previous years no loss this year. Do I put the entire NOL carryforward on line 21 or just what is used?

and do I have to attach a statement with the efile or does the worksheets go with the efile?

You only put the amount of the NOL that is going to be used on Line 21. You have to do an intervening year calculation first, then put the appropriate amount on line 21. Form 1045 has a worksheet for the intervening year.

There is already a statement in ATX for NOL c/f's. I would "assume" that that worksheet goes with the efile.

Maribeth

[grandmabee]

so the amount of on line 47 should end up zero?

[GeneInAlabama]

I have always had a problem understanding NOLs. I have always put the entire prior year NOL on line 21 and then figured a new NOL for the current year. It seems to make more sense.

[michaelmars]

i beleive thats how atx handles it. entire nol with an adjustment backingout the prior amounts on the current nol calculation worksheet

[BulldogTom]

That was how I was taught to do it many years ago. See others just put in an amount that zero's out income and carry the rest.

Tom

Lodi, CA