NOL on efiled return

[Randall]

If current year has a NOL, will the worksheet (or any info about it) get efiled? It doesn't appear on my efiled forms list. I included a statement to elect to forego the carryback on the efile elect stmts tab and this is listed on my efiled forms list. If the current year NOL info doesn't go with the efiled return, do you just enter the NOL on next years return?

[Maribeth]

If current year has a NOL, will the worksheet (or any info about it) get efiled? It doesn't appear on my efiled forms list. I included a statement to elect to forego the carryback on the efile elect stmts tab and this is listed on my efiled forms list. If the current year NOL info doesn't go with the efiled return, do you just enter the NOL on next years return?

On next year's return, you will calculate the amount of the 2007 NOL that is being used on that return and that amount will go on Line 21. Use Schedule B of Form 1045 in order to calculate the amount that is being used. Don't worry about the 2007 NOL calculation not going with the efiled return. Just keep that worksheet in your file.

Maribeth

[Randall]

Thanks. That's what I was planning to do. I did however add a quick statement about the NOL on a Preparer's Note with the efile. I'm not sure if IRS gets that or looks at it or keeps it in their file. But I thought it couldn't hurt.