Reporting net operating loss

To report net operating losses (NOL) in Wisconsin:
  • UltraTax CS calculates and prints Form 4BL — Wisconsin Net Business Loss Carryforward or Form 6BL — Wisconsin Net Business Loss Carryforward for Combined Group Members to report net operating losses carried forward to the current year (Wisconsin doesn't allow carryback of a net operating loss).
  • Form 4BL and Form 6BL include year-by-year reporting of NOL utilization and expiration. Use the statement attached to the fields in the WINOL screen to enter the detail.
note
Form 4BL and Form 6BL report the 30 preceding tax years of net operating loss carryovers. However, Wisconsin only allows the carryforward of net operating losses for 15 years prior to January 1, 2014. After this date, Wisconsin allows a carryforward of net operating losses for 20 years.

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