1040-US: Electing to treat a farming loss as if it was not a farming loss

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.

Characters left:

MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.


How do I elect to treat a farming loss as if it was not a farming loss?


To make this election:

  1. Access Screen Elect, located under the Elections folder.
  2. From the Election No. drop-down list, choose 6 NOL Carryback for Farming Losses.


  • If you make this election, the loss carryback period will be two years (three years if the loss is an eligible loss).
  • When making this election, select only code 2 or code 3 on the Screen 1045-1 Carryback period to use on Form 1045 field.

Related topic: Form 1045 and net operating loss worksheet FAQs (1040)

Share This