07-18-2012, 04:43 AM
>>Not even close. What forms do you use for your carried interest? Losses carried forward? Offshore accounts?<<
Done plenty of that. Lost a lot in the real estate crash too. You can't claim all your losses in one year. You have the option of carry forward or back etc. etc. And what do you mean what forms do I use? I don't get to design my own forms. Whatever IRS tells me to. So does Romney. There are no secrets. Read on.
NOL Steps
How To Figure an NOL
Nonbusiness deductions (line 6).
Nonbusiness income (line 7).
Nonbusiness capital losses.
Business capital losses.
Illustrated Form 1045, Schedule A
When To Use an NOL
Exceptions to 2-Year Carryback Rule
Waiving the Carryback Period
How To Carry an NOL Back or Forward
How To Claim an NOL Deduction
Deducting a Carryback
Deducting a Carryforward
Change in Marital Status
Change in Filing Status
Illustrated Form 1045
How To Figure an NOL Carryover
Illustrated Form 1045, Schedule B
NOL Carryover From 2011 to 2012
Worksheet Instructions
How To Get Tax Help
Low Income Taxpayer Clinics (LITCs).
Done plenty of that. Lost a lot in the real estate crash too. You can't claim all your losses in one year. You have the option of carry forward or back etc. etc. And what do you mean what forms do I use? I don't get to design my own forms. Whatever IRS tells me to. So does Romney. There are no secrets. Read on.
NOL Steps
How To Figure an NOL
Nonbusiness deductions (line 6).
Nonbusiness income (line 7).
Nonbusiness capital losses.
Business capital losses.
Illustrated Form 1045, Schedule A
When To Use an NOL
Exceptions to 2-Year Carryback Rule
Waiving the Carryback Period
How To Carry an NOL Back or Forward
How To Claim an NOL Deduction
Deducting a Carryback
Deducting a Carryforward
Change in Marital Status
Change in Filing Status
Illustrated Form 1045
How To Figure an NOL Carryover
Illustrated Form 1045, Schedule B
NOL Carryover From 2011 to 2012
Worksheet Instructions
How To Get Tax Help
Low Income Taxpayer Clinics (LITCs).