Help.

Anyone know anything about the above? I have a couple of tax clients who have huge losses

($ 300,000 plus) that I tried to carry back to an earlier year. The IRS kicked back and asked that the Form 6251 show amounts one lines 10 and 27. But no amounts are flowing through? Do they just want to see $ 0's (I am talking in the year of the loss .. how can there be AMT taxes on a huge loss?)

Or do they want to see amounts in the Form 6251 of the year carried back?

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As I recall, the ATNOL creates a deduction that's available on the (amended?) income tax return for the prior year(s) to which the loss gets carried. Form 6251 isn't the carryback form, but it's the form to attach to the carryback-amended tax return. Are you carrying back a "regular tax" NOL, too? The two losses (regular and AMT) should be carried back and claimed on the same amended return and then it gets really complicated.

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