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Screen MSCO - Mississippi Capital Loss Carryovers (1120)

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Net Capital Loss

Net Capital Gain (Net Capital Loss)
Enter the capital gain or loss information for each of the five prior taxable years. Enter the net capital loss for the five preceding taxable years as a negative number. For the first three preceding years, enter the net capital gain as a positive number. This amount is reflected on Form 83-155 and the MS Capital Loss Carryover Worksheet to show when a current-year net capital loss can be carried back to a prior period.
Prior (Gain Offset) or Loss Utilized
The amounts entered in the
Prior (Gain Offset) or Loss
Utilized
 fields add to the amount reflected in the
Net Capital Gain (Net Capital Loss)
 fields to determine the amounts for loss carryover or gain available for carryback. Enter the amount of capital loss that was utilized in a prior year as a positive number. For the first three preceding years, enter the amount of the capital gain that was utilized by carrybacks as a negative number.
Installment sale adjustment
Enter an adjustment to the amount of Mississippi capital gain (loss) due to an installment sale. Mississippi does not follow federal rules concerning installment sales. Refer to the Form 83-105 instructions for more information.
Gain excluded under Section 27-7-9 (f)(10)
Enter the amount of capital gain that is excluded under Section 27-7-9(f)(10). Gain from the sale of an interest in certain types of domestic entities may qualify for this exclusion. Refer to the Form 83-105 instructions for more information.

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