NOL Election not to carry back

UltimateTax will automatically assume that the Net Operating Loss (NOL) is being carried forward unless you complete the carryback information on Form 1045.

Click Add Form/Display List, and select the Election Explanation form. Go to this form and press F1 for a cut-and-paste election statement, or type in your own.

This form is included in e-files, but if you are mailing your client's return, attach the statement to the paper return.

This information applies to all years of the UltimateTax software.