Net Operating Losses: Your Questions Answered

NASBA Field of Study:	Taxes    2 CPE Credits
Breaks:	50 minutes into the start of the program
Price:	$59.00
Prerequisites:	None
Advance Preparation:	Review "Technical Requirements/Support."
Level:	Basic
IRS Program Nbr:	0MYXB-T-00182-12-O

Course Description

Computing and reporting net operating losses can be very complex. Taxpayers can election to either carry back their losses or to carry them forward to future years. Before they decide, they need answers to some questions:

1. What is the carryback period, and will there be a tax savings?
2. Is there a tax benefit to carrying the losses forward to more profitable future years?
3. Should losses be claimed on a Form 1045 or an amended return?
4. What adjustments must be made in order to calculate the allowable tax refunds?
5. Does the taxpayer know about all of the choices?

This course will help you answer these questions and others, providing an excellent overview of net operating loss (NOL) requirements and pitfalls.

Topics covered include:

Learning Objectives

Upon successful completion of this course, participants will be able to:

• Compute both net operating loss carrybacks and carryforwards.
• Avoid costly mistakes in tax planning.
• Prepare the various forms that are required to claim a net operating loss.

Schedule

For registration information, please contact our office at (800) 822-4194.

For Webcast group registrations, click here.