so this 1041 with a Sch C loss

[WITAXLADY]

was filed in 2019 with a huge Sch C loss, (by another preparer) and

1 - had $1,279  of tax? I cannot track that where it came from?? onkly activity except 4797

2 - cannot find where they calculated the NOL - at that time can it be carried back? Not final until 2021.

3 - please, help me out - no K-1's until final and all aggregated on 2021? with all losses from all the years via the NOL should show there, correct?

Thank  you

D in WI

[DANRVAN]

8 hours ago, WITAXLADY said:

1 - had $1,279  of tax? I cannot track that where it came from?? onkly activity except 4797

Schedule G on page two should show where the tax came from.

9 hours ago, WITAXLADY said:

- at that time can it be carried back?

5 year carryback was allowed by CARES in 2019.

9 hours ago, WITAXLADY said:

no K-1's until final and all aggregated on 2021? with all losses from all the years via the NOL should show there, correct?

sounds right if 2021 is the final year