1040-US: Modified taxable income calculation for net operating losses

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.

Characters left:

Change to CS Support service hours

Our Support department is closed on [[date]]. However, limited UltraTax CS phone support is available on that date from 9 AM - 5 PM ET due to the approaching deadline.

Links to our most popular tax processing topics are available in the Alerts and notices section on the right side of most pages.


How is modified taxable income calculated for purposes of NOL?


UltraTax CS calculates modified taxable income by taking the taxable income and adding back certain adjustments and deduction items. NOL Worksheet 2 shows this calculation in detail, as well as the amount of NOL available for carryover to next year.

For more information, see Publication 536, Net Operating Losses (NOLs) for Individuals, Estates, and Trusts

Related topic: Form 1045 and net operating loss worksheet FAQs (1040)

Share This