Discussion:Amendment or Not for NOL changes only
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Discussion Forum Index --> Advanced Tax Questions --> Amendment or Not for NOL changes only
Discussion Forum Index --> Tax Questions --> Amendment or Not for NOL changes only
| 31 May 2008 | |
| I have a C corporation that had NOL being carried forward from the 2006 tax returns to the 2007 tax returns. We just realized that there was a substantial deduction (expense) that was not deducted on the 2006 tax returns. The NOL would have been $12K more in the negative if the omission did not take place.
Since the error only affects the amount of NOL being carried forward to 2007, must we file an amendment for 2006? Or can we simply make the deduction on the 2007 tax returns? Thank you for all your input! | |
RoyDaleOne (talk|edits) said: | 31 May 2008 |
| I would recommend filing an amended return. | |
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