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Screen CANOL2 - California Net Operating Loss Carryover, Page 2 (1120)

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Overview

Use this screen to complete Form 3805Q and the disaster loss deduction for Side 2 of Form 100, 100W, or 100S.Also use this screen for Settlement Funds returns filing Form 3805V and Form 541.
note
Per California Franchise Tax Board Legal Division Guidance 2011-10-01, New Business and Eligible Small Business NOL provisions are irrelevant for tax years beginning on or after January 1, 2004, because NOLs may be fully carried over without limitation. For these tax years, the carryovers for General NOL, New Business NOL, and Eligible Small Business NOL are combined and reported as a General NOL carryover only, for each applicable year.

Net Operating Loss and Disaster Loss

C Corp Year (S Corp)
In this column, enter
X
 if the S Corporation was a C Corporation in the corresponding year. The application won’t claim a NOL deduction but will maintain the amounts for carryover purposes.
Initial Loss
In this column, enter each year’s original disaster, new business, small business, and general losses. Note that loss amounts entered should be reduced by appropriate percentages where necessary. All losses must be entered as a positive number.
Remaining Initial Loss
In this column, enter the amount of initial loss from the previous column that is still available for carryover. This amount can't be more than the initial loss in the previous column. All loss carryovers must be entered as a positive number.
Disaster Code
Enter the applicable disaster loss code directly or select one from the dropdown.
Suspension Applicable
Enter
X
if the extended NOL carryover period of one to four years applies to this tax year. Due to the complexity of the suspension rules, the application is unable to determine if the suspension is applicable to the tax year. See Form 3805Q instructions and FTB Legal Ruling 2011-04.
This will proforma to next year.
Year NOL Incurred
Last Year Applicable if Suspension Doesn’t Apply
Last Year Applicable if Suspension Applies
2001
2013
2017
2002
2013
2017
2003
2013
2017
2004
2014
2018
2005
2015
2019
2006
2016
2020
2007
2017
2021
2008
2028
2031
2009
2029
2031
2010
2030
2031
Initial Loss / Remaining Initial Loss
In the statements, enter the new business loss and carryover amounts and indicate the years of operation in which they were incurred. The application uses this information to properly reflect the carryover amount. All losses must be entered as a positive number.

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