Screen NYNOLFed - New York City Net Operating Loss Carryovers - Federal (1120)

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Federal Net Operating Loss Carryover

Income (Loss)
The
Income (Loss)
should reflect the federal taxable income or loss for each of the preceding periods. Enter losses as negative numbers and income as positive numbers for each of the 19 prior tax years. This allows the application to determine the amount of NOL available to the current year as a carryforward.
Special Deductions
The application adds the amount here to the income or loss reflected in
Income (Loss)
to determine the amount for Form NYC-NOLD-GCT, column B.
Prior Year (Income Offset) NOL Utilized
The application adds the amount here to the income or loss reflected in
Income (Loss)
 to determine the amount available for carryover. If a prior year NOL was utilized, enter the amount of loss reflected in
Income (Loss)
that was utilized in prior years as a positive number.

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