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