TITLE

Invalid split NOL election left full carryback intact

PUB. DATE
January 1997
SOURCE
Practical Accountant;Jan97, Vol. 30 Issue 1, p18
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Discusses a US Tax Court decision on a case of an invalid split net operating loss (NOL) election that left full carryback intact. Background of the case; Impermissibility of a split election to forego a carryback for the regular NOL only; Requirement for the unequivocal and unambiguous election to wave the carryback period; Absence of relinquishment by the Miller of his right to carryback both NOLs.
ACCESSION #
9709085671

 

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