TAXMAN Posted February 24, 2015 Report Posted February 24, 2015 Check me on this please as I seem to get 2 diff #'s. h&w both 65 using standard ded of 14800. rnd #'s are Int and div 9000, cgdistribution 2400, pension 21000, rental 4234. Loss from sale of rental 28000 on line 14 from 4797. What kind of NOL do you come up with? many thanks. Quote
TAXMAN Posted February 27, 2015 Author Report Posted February 27, 2015 Just moving back up to get an opinion. Quote
BulldogTom Posted February 27, 2015 Report Posted February 27, 2015 Check me on this please as I seem to get 2 diff #'s. h&w both 65 using standard ded of 14800. rnd #'s are Int and div 9000, cgdistribution 2400, pension 21000, rental 4234. Loss from sale of rental 28000 on line 14 from 4797. What kind of NOL do you come up with? many thanks. I don't. I see 36K of income and28K of losses. Taxpayer's standard deduction cannot create an NOL. there would have to be a schedule A with business deduction on it to make it part on the NOL. What am I missing that makes you think there is an NOL? Tom Newark, CA 1 Quote
TAXMAN Posted February 27, 2015 Author Report Posted February 27, 2015 Thank you. I was thinking the same way. Software was telling me a possible NOL and I couldn't get one because AGI was still positive.Will go back and check software to see where the input problem may have been. I think because it was looking at the 4797 as a non capital loss. Quote
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