USA Filing 1139 for 2018


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So the CARES act (as I understand it) will now allow NOL for TY2018 to be carried back 5 years. Has anyone seen any guidance on when it can be filed or if there is a special procedure for filing it? Thanks.
 
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Werner Reisacher

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Thank you for the reference. I read Notice Notice 2020-26 and it indicates the procedure for filing Form 1139 for TY ended 12/31/2018.

So, here's the new issue:

Loss in T/Y 2018 and T/Y 2019 - Should I file the 1139 for 2018 first and then file the 2019 return and 1139 or the other way around? Or, am I overthinking it and it really doesn't matter? Thanks for any insight.
 
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Werner Reisacher

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Without having all the facts, I suggest you follow the logic of starting from the 2019 FY and work the way back to avoid having to amend filings twice
 

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