Screen ARCO - Arkansas Carryovers (1040)

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Overview

Use this screen to enter carryovers of Section 1231 Nonrecaptured Losses and various contribution carryovers for the applicable previous years.

Section 1231 Nonrecaptured Losses

Use this section to enter federal and Arkansas source section 1231 nonrecaptured losses. Blank fields do not default to federal amounts. Fields in this section are used to calculate the Arkansas Section 1231 Carryover Worksheet. Part-year and nonresident carryover amounts present on the prior years’ worksheet proforma to these fields.
Federal Amount / … / Arkansas Source
Use these fields to enter carryover amounts from prior years. All
Arkansas Amount
fields not completed default to the carryover amounts entered in the federal CO Screen. Fields in this section are used to calculate the top portion of the Arkansas Section 1231 Carryover Worksheet. Resident carryover amounts present on the prior years’ worksheet proforma to these fields.

Charitable Contributions Carryover

UltraTax CS uses the information in this section to calculate the contribution carryovers for previous years.
50 % Contributions / … / 100% QC Contributions
Enter amounts in these fields if they are different than federal amounts. UltraTax CS defaults to the amounts entered in the federal CO Screen to calculate charitable contribution carryovers for Form AR3.

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