Screen NOLPat - Patronage Net Operating Loss (1120)

General Information

The
Income (Loss)
fields should reflect the taxable income or net operating loss for each of the preceding periods. Enter NOLs as negative numbers for each of the prior tax years. This is the equivalent of Form 1120-C, Taxable income before section 1382, net operating loss deduction and special deductions.
The application adds this amount to the patronage income or loss reflected in the
Income (Loss)
and
Adjustments To NOL
fields to determine the amount available for carryover.
Enter the amount of the patronage loss reflected in the
Income (Loss)
field that has been utilized in prior years as a positive number, and the amount that has been offset by patronage NOL as a negative number.
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