Carryback

- T
- tom23
  
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posted
14 years ago

Tue, Aug 11, 2009 2:16 PM

I had a loss in 2008 from an investment in a Ponzi scheme. Turbo Tax presented an option to carry the loss(after applying part of it to my

2008 income) forward or back. I chose to carry it back. Because it was a theft loss, I could carry back as far as my 2005 return. I loaded Turbo Tax 2005, retrieved my 2005 file and started the amend process. I'm stumped about how to enter the carryback amount and what explanation needs to be entered and where to put it. Can anyone give me some advice on this?

Thanks.

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- D
- Drew Edmundson
  
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posted
14 years ago

Wed, Aug 12, 2009 3:04 PM

As an alternative, take a look at form 1045 in your 2008 software. Have you looked at Rev. Rul. 2009-9 and Rev. Proc.

2009-20?

Drew Edmundson, CPA Cary, NC

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