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R
ringobingo
May 4, 2021
Question

Should I wait for my 1040X for 2019 be processed before I file 2020 tax return?

  • May 4, 2021
  • 1 reply
  • 0 views

The 2019 correction was for my NOL (Net Operating Loss) carryover from 2018. 
My refund amount did not change since loss is greater than my income.
Only calculation affected was my AGI which affects the carry over NOL for my 2020 return.

    1 reply

    E
    ErnieS0
    May 4, 2021

    Yes. The IRS may disallow the net operating loss on your 2020 return or hold up your refund if they have no record of the 2019 NOL carryforward.

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    R
    ringobingoAuthor
    May 4, 2021

    Thanks Ernie for the reply.

    There is a record of my NOL carryforward, it is just the wrong amount.  
    Error was a 10% difference.

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