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lauritta
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Joined: 02 Jan 2011
Online Status: Offline
Posts: 83

Posted: 11 May 2012 at 13:51 \| IP Logged

What is the best way to remember what is
carried forward and what is carried back and for how long?
*Foreing tax credit 1 year back and 10 forward
*Business tax credit 1 year back and 20 forward
*NOL 2 years back and 20 forward
*Corporation’s net capital loss carried back 3 years and
forward 5 years as a STCL
*Charitable contributions (for individuals) 5 carry forward
only
and so on
Thank you for any feedback!

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FAR - passed
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AUD -
Wiley, some lectures from Becker

nolifecpa
Regular
Regular

Joined: 12 Jun 2010
Online Status: Offline
Posts: 135

Posted: 11 May 2012 at 15:20 \| IP Logged

forgot where i read it but for NOL, if you turn the "N" sideways it kinda looks like a "2"

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lauritta
Contributor

Joined: 02 Jan 2011
Online Status: Offline
Posts: 83

Posted: 11 May 2012 at 15:23 \| IP Logged

It is a good one)) Thank you!

__________________
FAR - passed
REG - passed
AUD -
Wiley, some lectures from Becker

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