1040-IN: Proforma prior-year information to current year

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

Proforma to current year

Calculated values from Form IT-40 resident return and information from Screens INNOL and INNOL-2 in the 2016 version of UltraTax/1040-IN proforma to Screen INNOL-2 in the 2017 version of UltraTax CS. This information is used as follows:

  • If the return was not prepared in UltraTax CS in the prior year, or if the prior-year return was prepared erroneously, manual data entry is necessary. See Applying prior-year NOL to current-year income.
  • Information on Schedule IT-40NOL, the NOL Worksheets, and the Carryover Summary does not proforma from year to year. Instead, prior year amounts are established via information that proformas to Screen INNOL-2, as noted above.
  • If the taxpayer and spouse are taxed separately for county tax purposes, see Taxpayer and spouse amounts.

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