Due date for Ca NOL carryback - Spidell

Due date for Ca NOL carryback

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Message Board Due date for Ca NOL carryback

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 2 weeks, 6 days ago.

  • Author
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  • #182674
    Julie Schoepp
    Participant

    I cannot find the due date for filing a carryback claim for 2014 for a loss created by the amendment of a 2016 Form 540. And in case it makes a difference, the 2016 Form 540 was amended to claim a casualty loss experienced in 2017 in a federally declared disaster (CA wildfire).

    Thank you so much!

    Julie

  • #183258
    Lynn Freer
    Participant

    Under normal circumstances, the 2014 return must be filed within 4 years of the filing of the original return. If, however, there is an NOL, you should file the 2014 year when filing the amended 2016 which would have a 4 year statute, so 2020. If it was a disaster in 2017 the return was due in 2017 to elect to claim on 2018.