Screen MENOL - Maine Net Operating Loss (1040)

Overview

Use this screen to enter net operating loss adjustment. See Maine’s guidance document for how to calculate the adjustment. UltraTax CS does not calculate net operating loss adjustments other than the carryover amounts entered for the 2009 to 2011 years.

Current year NOL adjustments

Use this screen to indicate the net operating addition and subtraction based on amounts used to calculate the current year federal adjusted gross income and/or the federal net operating loss created in that is carried back at the federal level. See the Maine guidance document for how to calculate the net operating loss adjustments.

2009 - 2011 NOL carryover

Use this section to indicate how much net operating loss was added to Maine’s adjusted gross income for 2009 - 2011 tax years that was carryforward to be utilized starting in 2012. You must enter the amount of the net operating loss you wish to use each year. Total amount used proformas to the following year.

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