Can I carry forward NOL from 2015 to 2016?
For tax year 2015, we had some unexpected startup costs and would up with a Net Operating Loss(NOL) for that year. When I filed them with TurboTax, it asked whether I wanted to carry it forward to the next year, and I said yes I did. It auto generated a letter stating that to send off with the 2015 1040.
What I didn't know at the time was that I would also need to separately file a form 1045 Sched A to show the amount of the NOL to carry forward to 2016. I've since sent one in, but it was still after the time mentioned in the 1045 instructions.
Now I'm thinking that since the IRS received the letter of intent within the allotted time frame, it seems like I should be okay to carry the NOL forward to 2016. I'm not totally certain though. If it is, great, I'll carry on. If not, what should I do? Should I file a 1045 to carry it back to 2014, or is it too late now to claim it at all?
Let me know. Thanks.
Is this a good question?