1120-US: Determining applicable limit for the IRC 382 NOL deduction (FAQ)

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Question

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

Answer

The IRC 382 NOL deduction is limited to the sum of the following three fields on Screen 382NOL in the 382 NOL folder:

  1. Annual limit determined under Section 382; plus
  2. Current year adjustments to annual limit due to recognition of other pre-change items; plus
  3. Carryover of excess Section 382 limit from prior years.

Related topic: 1120-US: Net operating loss deduction FAQs

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