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Screen HI309 - Hawaii Application for Tentative Refund (1120)

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General Information

Elect to forgo carryback of current year net operating loss
Enter
1
 to indicate that the corporation has made the election to waive the carryback of the current year’s net operating loss. If you enter
1
, Form N-309 will not print. If this field is blank, the application defaults to the option selected on the federal return.
note
To print the required election statement to forgo the carryback of the current year loss, choose the appropriate election number from the drop-down list in the Elections section of the HILetter Screen.
Eligible for two-year carryback of net operating loss
Enter
X
 if the corporation has net operating loss that is eligible for carryback.
note
Carryback of post-2017 losses are generally no longer permitted, except for farming losses and losses from certain insurance companies.

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