1120-US: Net operating loss deduction FAQs

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IRS filing deadline update

The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.

The following includes answers to common questions about net operating loss deductions.

Why doesn't the total NOL carryover amount appear on Form 1120, line 29a?

Why doesn't the NOL and Contribution Carryover Worksheet automatically print?

How do I reduce the NOL carryover to reflect amounts no longer available?

How do I change the dates that are displayed under the Preceding Tax Year column on various worksheets, like the Net Operating Loss Carryover Worksheet or the Carryover Worksheet?

How do I enter NOL carryover that is subject to IRC 382 limitation?

How does the application determine the applicable limit for the IRC 382 NOL deduction?

Will the application automatically adjust the IRC 382 limitation due to recognition of other pre-change items?

Related topic: 1120 frequently asked questions

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