1139 missing paperwork


G

Grip

Tax year ended July 2008 and I requested an extension. I knew the
corp had suffered a loss, and had a tax credit, so I did not make any
payment.

I filed my 1120 within the timeframe of the extension. I also filed
an 1139 carryback adjustment hoping to recoup taxes paid in the
previous two years. The loss wasn't great and amount of the refund
wouldn't be large ($3,500). The 1139 is filed separately from the
1120.

I forgot to attach any of the supporting documents, namely the first
two pages from my 2008 1120 showing the loss and so my application was
denied. Completely my error.

I have two questions:

Can I still "re-file" the 1139 and get my carryback adjustment or is
it lost for good?

If I expect another loss in 2009, should I hold off and wait for the
next year instead? My profit in 2006 does not cover all of my loss in
2008, not even half. Can I claim the balance of my 2006 gain in my
2009 return?

Thanks,
G
 
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P

Paul Thomas, CPA

Grip said:
Tax year ended July 2008 and I requested an extension. I knew the
corp had suffered a loss, and had a tax credit, so I did not make any
payment.

I filed my 1120 within the timeframe of the extension. I also filed
an 1139 carryback adjustment hoping to recoup taxes paid in the
previous two years. The loss wasn't great and amount of the refund
wouldn't be large ($3,500). The 1139 is filed separately from the
1120.

I forgot to attach any of the supporting documents, namely the first
two pages from my 2008 1120 showing the loss and so my application was
denied. Completely my error.

I have two questions:

Can I still "re-file" the 1139 and get my carryback adjustment or is
it lost for good?

If I expect another loss in 2009, should I hold off and wait for the
next year instead? My profit in 2006 does not cover all of my loss in
2008, not even half. Can I claim the balance of my 2006 gain in my
2009 return?



Refile the NOL carryback with the proper attachments.
 

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