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Screen DENOL - Delaware Net Operating Loss (1120)

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Net Operating Loss Carryover

For each of the preceding periods, enter as a negative number the amount of excess carryback loss that exceeded the $30,000 limitation on the amended return for that carryback year. This excess can be utilized as a carryforward in the current or future years.
For the corresponding periods, enter the amount of disallowed carryback loss that was utilized from that year. The application subtracts the amounts in this field from the loss reflected in the
(Excess Loss over $30,000 Disallowed)
fields to determine if there is disallowed carryback available for carryover.
For example, a $125,000 federal net operating loss was generated in the second preceding taxable year. Of that amount, $40,000 was carried back on the federal return in the fifth preceding taxable year. In amending Delaware for that year, $10,000 would have been a negative subtraction on Form 1100X indicating the excess loss carryback that was disallowed. Therefore, $50,000 was carried back with $20,000 disallowed in the fourth preceding taxable year, and $35,000 was carried back with $5,000 disallowed in the third year. On last year’s return, there was $17,000 of income that could be offset by the full carryover loss of $10,000 from the fifth preceding year, and $7,000 of the $20,000 from the fourth preceding year. This leaves $18,000 of disallowed carryback as a carryover. The input screen fields would appear as indicated in the following table:
Preceding Tax Year
(Excess Loss over $30,000 Disallowed)
Loss Utilized
5th
-10,000
10,000
4th
-20,000
7,000
3rd
-5,000
2nd
1st
Enter the amount of carryback loss that was limited under Delaware Law and for which an amount is being carried forward that differs from Federal net operating loss carryforward.
  • If filing Form 1100 in a loss year:
     Enter as a positive number the amount being carried back on federal Forms 1139 and 1120-X that exceeds the Delaware limit of $30,000 per carryback year. The application shows this as a negative number on line 2(g) of Form 1100, as Delaware requires the federal taxable income to be adjusted to reflect the carryback of the net operating loss.
  • If filing Form 1100 and carrying forward a net operating loss:
     Use Screen DENOL to enter carryover amounts. The application uses the cumulative total amount calculated for the Current Year Carryover Utilized column from the DE NOL Carryover Worksheet to complete line 2(g) of Form 1100.
  • If filing Form 1100X to carryback a net operating loss:
    Enter as a positive number the amount by which the federal carryback for the current year exceeds $30,000. The application shows this as a negative number on Form 1100X, line 2(g), column C.
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