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Department of the Treasury -- Internal Revenue Service Form 3621-A (Rev. June 1991) Statement schedule Computation of Net Operating Loss Deduction for Intervening Years Modifications (IRC Section

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What is 3rd preceding year 2nd?

The term '3rd preceding year 2nd' refers to the tax year that is three years prior to the current year, and it is commonly denoted as Y-3.

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Individuals or entities that had income or tax obligations during the 3rd preceding year 2nd are generally required to file the corresponding tax return for that year.

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To fill out the tax return for the 3rd preceding year 2nd, you will need to gather your income and expense information for that year and accurately report it on the appropriate tax forms. It is advisable to consult with a tax professional or use tax software to ensure compliance and accuracy.

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The purpose of filing the tax return for the 3rd preceding year 2nd is to report income, deductions, and credits for that specific year and calculate the corresponding tax liability or refund.

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The information that must be reported on the tax return for the 3rd preceding year 2nd includes any sources of income, such as wages, self-employment income, investment income, and rental income. Additionally, deductions, credits, and other relevant financial information are also required to be reported.

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