doch inwiefern und im detail die 4 mrd deposit genutzt wurden ist nicht ersichtlich .. falls jemand die quell hat danke...
zu den Nols in bezug auf wmih war von mir falsch
INCOME TAX CONSEQUENCES OF COMMON COMMERCIAL BANKRUPTCY TRANSACTIONS
NET OPERATING LOSSES (NOL’s)
What They Are And The Issues Related To Their Use and Preservation
Presented by: Keith D. Lowey, CPA, President – Verdolino & Lowey, P.C.
klowey@vlpc.com, (508) 543-1720
Net Operating Loss Defined. Simply stated, an NOL (net operating loss) is the excess of allowable deductions over
gross income, computed under the law in effect for the loss year, with the required adjustments (Code Sec. 172(c) and
(d); Reg. §§1.172-2 and 1.172.3).
Nearly every taxpayer is allowed to carryback a net operating loss (NOL) from a trade or business to apply as a
deduction against prior income and to deduct from succeeding years’ income any unabsorbed loss (Code Sec. 172(b)).
Taxpayers entitled to the carryback and carryover privilege include:
1. corporations (other than those specifically excepted);
2. individuals;
3. estates and trusts;
4. common trust fund participants; and
5. partners who may deduct allocable partnership loss.
Generally, no NOL deductions are available to partnerships and S corporations, but their investors may use their
distributive shares to calculate individual NOLs.
The NOL carryback or carryover is generally that part of the NOL that has not previously been applied against
income for other carryback or carryover years (Code Sec. 172(b) (2); Reg. §1.172-4). In computing the taxable
income of an intervening year that must be subtracted from an NOL to determine the portion still available to carry to
subsequent (or preceding) years, various adjustments must be made (Reg. §1.172-5) including (1) personal and
dependency exemptions not being allowed; (2) for non-corporate taxpayers – capital losses are deductible only to the
extent of capital gains; among others.
Useful life of NOL’s – generally can be carried back to the two years preceding the loss year and then forward to the
20 years following the loss year (old rules – years beginning before August 6, 1997 – it was 3 years back and 15 years
forward).
A taxpayer may elect to waive the entire carryback period (Code Sec. 172(b) (3)). If the election is made, the loss
may be carried forward only. The election must be made by the return due date (including extensions) for the tax year
of the NOL. The election is irrevocable. The election may also be made on an amended return filed within six
months of the due date of an original timely return (excluding extensions).
Forms to use for an NOL – Individuals, estates, and trusts compute the NOL for the loss year and the carrybacks and
any carryforward on Form 1045 (Code Sec. 6411; Reg. §1.6411.1). Form 1045 is filed to claim a quick refund for the
excess taxes paid in the carryback years that are attributable to the NOL. Form 1045 may only be used if filed within
one year after the close of the NOL year. As an alternative to Form 1045, an individual may file Form 1040X for
each carryback year to claim a refund. Estates and Trusts file an amended Form 1041 (there is no Form “1041X”). If
an amended return is filed the taxpayer must still attach the NOL computation using the Form 1045 computation
schedules.
www.abiworld.org/committees/newsletters/...tion/vol4num3/3.pdf