Carrybacks and Carryforwards

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    Topic
  • August 10, 2014 at 11:54 am #187663
    jb216
    Member

    I was confusing myself with all of them, so I decided to compile everything I had in my notes:

    Individuals:

    Net taxable losses- CB 2 CF 20

    Charitable contributions- CB 0 CF 5

    Capital Losses- CB 0 CF forever (after 3000 max net loss deduction)

    Passive Activity Losses CB 0 CF forever (can be used at disposal)

    Corps:

    Net Operating Losses- CB 2 CF 20

    Charitable Contributions- CB 0 CF 5

    Capital Losses- CB 3 CF 5

    Did I miss anything? I think the ones above are all correct, but then again my notes are chicken scratch…

    FAR 80 - 11/30/13
    AUD 86 - 02/28/14
    BEC 78 - 05/29/14
    REG August 15

    Study Material: Becker

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