1120-US: Why is Form 1139 printing (FAQ)

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Question

Why is Form 1139 printing?

Answer

Form 1139 prints if there is an entry in any of the following fields on Screen 1139:

Form 1139 also prints if there is a value entered in the Carryback period for net operating loss field and the NOL Carryover Worksheet reflects a carryback, or if there is a net capital loss in the current year and a net capital gain exists in one of the preceding tax years. If capital gains existed in prior years and have not been offset, a capital loss must be carried back before it can be carried forward.

Related topic: 1120-US: Form 1139 - Application for refund FAQs

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