Triva isn't available right now.
Check out the support page for our phone number and hours
Solutions
-
Corporations
-
Governments
Success stories
-
A true competitive advantage
Law firm Zarin Baum’s embrace of generative AI as the natural next step in the evolution of legal work and their adoption of CoCounsel Legal has helped them achieve remarkable efficiency gains and improved client relationships.
-
Workflow transformation drives impact
Brinks, a global leader in secure logistics and security solutions, used CoCounsel to reimagine what was possible with AI tools, turning legal challenges into a competitive advantage.
-
The forefront of audit tech
A better auditing workflow solution was the answer to multiple challenges faced by The Mercadien Group. Find out how they achieved greater efficiency by embracing Cloud Audit Suite.
Questions? We are here to help.
Products
-
Tax, audit & accounting
Recommended products
-
CoCounsel Legal
Transform your work with the only AI legal solution uniting research, drafting, and document analysis in a single experience. Designed by legal experts and built on trusted content and advanced AI, CoCounsel Legal accelerates multistep work so you can better serve your clients and grow your business.
-
CoCounsel Tax
Transform your tax practice with CoCounsel Tax, an AI-powered assistant that combines trustworthy answers, automation, and firm knowledge into one seamless platform. Enhance efficiency, reduce risk, and improve client confidence with CoCounsel Tax.
-
CLEAR
Powerful software designed for law enforcement, compliance, risk, and fraud investigators. Conduct thorough investigations with ease using our intuitive online investigation software. Efficiently, prevent, detect, and solve crime.
Questions? We are here to help.
Purchase
Resources
-
Product training
-
Product communities
-
Developers
Highlights
-
2026 SKILLS Showcase
Join weekly sessions to experience in-depth demonstrations of the leading legal AI products while connecting with strategic law firm leaders in knowledge management, innovation, and AI.
-
Ghosts on the ledger
Payroll fraud is a major compliance risk. Learn how payroll analytics and AI-powered tools can help exorcise phantom employees and employers.
-
Future of professionals report 2025
The Thomson Reuters Future of Professionals Report 2025 reveals how AI continues to shape professional work — and what it takes to get ahead. This year’s report shows that increased efficiency, productivity, and cost savings top the list of benefits professionals attribute to AI, making it indispensable for organizations facing rapid change.
Screen SCNOL - South Carolina Net Operating Loss Carryover (1120)
Show all hidden content
Net Operating Loss Carryover
Income (Loss)
The
Income (Loss)
fields should reflect the taxable income or net operating loss for each of the preceding periods. Enter the taxable income or net operating loss from line 4 of Form SC1120 for each of the prior taxable years. Enter profit amounts as positive numbers and loss amounts as negative numbers.note
Years with income or the respective income offset amounts in the next column don't have to be entered in order to have Form SC1120, Page 1 calculate correctly. However, in that situation, the SC Net Operating Loss Carryover Worksheet doesn't show the history of how net operating losses were generated and utilized.
Prior Year (Income Offset) NOL Utilized
The application adds the amount in this field to the income or loss reflected in the
Income (Loss)
fields to determine if there's a NOL amount available for carryover. If the Income (Loss)
column is positive, enter a negative number for the amount of NOL deductions reflected on Form SC1120, line 5. If the Income (Loss)
column is negative, enter a positive number for the amount of net operating loss utilized in prior years.Net operating loss footnote
Enter information regarding NOL adjustments in the statement window. This information prints as an attachment to the return.
Example:
A $10,000 NOL was generated in the 5th preceding taxable year; $2,000 of the NOL was utilized in the 4th preceding taxable year; $3,000 was utilized in the 3rd preceding taxable year; there was a $5,000 loss in the 2nd preceding taxable year; and $4,000 of the NOL was utilized in the 1st preceding taxable year. The amount fields should be as shown in the following table.Preceding Tax Year | Income (Loss) | Prior Year (Income Offset) NOL Utilized |
|---|---|---|
5th | (10,000) | 9,000 |
4th | 2,000 | (2,000) |
3rd | 3,000 | (3,000) |
2nd | (5,000) | N/A |
1st | 4,000 | (4,000) |
note
Years with income or the respective income offset amounts in the next column don't have to be entered to have Form SC1120, Page 1 calculate correctly. In that situation, the SC Net Operating Loss Carryover Worksheet doesn't show the history of how net operating losses were generated and utilized.