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Screen HICO - Hawaii Other Carryovers (1120)

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Capital Loss Carryover

Net Capital Gain (Net Capital Loss)
Enter the net capital gain or loss for each year in the fields in this column. This should be only the activity for each year’s sales and should not reflect carryover amounts. Enter net losses as negative amounts.
(Gain Offset) or Loss Utilized
Enter the amount from the
Net Capital Gain (Net Capital Loss)
 column that was utilized in prior years. Enter losses utilized as positive amounts. The application subtracts these amounts from the
Net Capital Gain (Net Capital Loss)
field to determine if there is a capital loss carryforward.
note
Preceding tax years 6 through 15 are only available to a qualified high technology business. To make these fields available, enter
X
 in the
Qualified high technology business
field.
Use these fields to calculate the consolidated capital loss deduction
If this field is blank, the application calculates the Hawaii Capital Loss Carryover Worksheet using the combined amounts from all subsidiaries. Enter
X
 to instruct the application to use the consolidated corporation’s net operating loss information entered in this section to calculate the Hawaii Consolidated Capital Loss Carryover Worksheet.
note
This field applies only to consolidated returns.

Section 1231 Losses

1231 Loss
Use the fields in this column to enter the Section 1231 losses taken each year. Enter the losses as positive amounts.
Prior Year Recaptures
Using positive numbers in these fields, enter the amounts of the
1231 Loss
 fields that were recaptured to date. The application subtracts the amounts entered here from the
1231 Loss
 fields to determine if there are still losses subject to recapture.

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