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QUESTION DETAIL
Related User
Votes
We have completed our two 2012 LLC returns and have losses. I would like to roll the loss back onto my 2011 personal return because we owed in that year. Do we need to first amend our 2012 taxes (we submitted the returns without the k-1's) to show the loss first then can we rollback the loss into 2011? If the loss is large enough can we roll back the loss to 2010?
ANSWER
The BIDaWIZ Team's Answer:
Yes, you would start with the most recent tax return due and then work your way backward. So 2012, then 2011, then 2010.
