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VI. Net Operating Losses
Petitioner and Rowe deducted net operating loss (NOL)
carryforwards on their 1988-90 joint returns. The NOL
carryforwards were derived from losses claimed on Schedules C and
Schedules E, Supplemental Income Schedule, of petitioner’s 1980
and 1982 separate returns. Petitioner’s 1988-90 returns utilized
the NOL carryforwards as follows:9
Loss carryforward
Year Schedule C income utilization
1988 $39,621 $9,350 (1980 loss)
1989 15,485 5,714 (1980 loss)
9,771 (1982 loss)
1990 2,492 25 (1982 loss)
9Mr. Aunan erroneously used $8,650 of petitioner’s loss
carryforward to offset Rowe’s Schedule C income. See Calvin v.
United States, 354 F.2d 202 (10th Cir. 1965) (cited with approval
by Rose v. Commissioner, T.C. Memo. 1973-207).
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