Discussion:Sole proprietor NOL?
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Discussion Forum Index --> Tax Questions --> Sole proprietor NOL?
| 30 August 2006 | |
| My client has a $32,000 Schedule C loss for 2005, although his total 2005 1040 income, after itemized deductions,before exemptions is positive (negative after exemptions).
For 2006, his Schedule C income will be around $200,000. Is there any way to carry forward the $32,000 Schedule C loss to 2006, even though the 1040 taxable income before exemptions is positive? | |
| 30 August 2006 | |
| Work through Schedule A of Form 1045....you'll see, as Riley stated, there is no NOL. | |
Michaelstar (talk|edits) said: | 30 August 2006 |
| Fully agree with Riley2 - there is nothing to c/f. | |
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