Screen MTCO - Montana Contribution Carryover (1120)

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Contribution Carryover

Excess Contributions
Enter as a positive number, the amount of contributions disallowed as a deduction due to the Montana taxable income limitation; enter this amount for each of the five prior taxable years. The amount entered here should be equal to the total contributions disallowed. The MT Contribution Carryover Worksheet displays the calculation of the current year carryover amount and can be used as a guideline in calculating the prior year excess contributions.
Prior Year Utilization
The application subtracts the amount in this field from the
Excess Contributions
fields to determine if a contribution amount is available for carryover. If
Excess Contributions
are available, enter a positive value for contributions deductions taken in that year.

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