Screen IANOL-3 - Iowa Net Operating Loss - Carryover (1040)

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Overview

The information entered in the IANOL-3 Screen is used to calculate the Iowa prior-year NOL carryforward adjustment amount for Form IA 124, Net Operating Loss Adjustment Schedule.

Carryover Information

Use this section to enter amounts that transfer information from prior years. This information automatically proformas in future years.
T, S, J
This is a mandatory field used to assign the carryover and carryforward amounts to the taxpayer, the spouse, or both (joint).
Pre-2023 federal NOL carryover to current year
Enter amounts from 2023 IA 124. Previous year amounts will proforma.
Current year federal NOL deduction (Force)
This field will override the current year calculated federal NOL deduction.
Pre-2023 Iowa NOL carryover
Enter amounts from 2023 IA 124. Previous year amounts will proforma.
Iowa NOL that expired at end of last year
Amounts entered here will override the amounts calculated in the next section,
Expired carryover determination

Expired carryover determination

20 Year Carryover Items
Use these fields to enter 20-year carryover items as positive numbers. Enter the NOL amount generated, the carryback amount used, and the carryover (carryforward) amount used in previous years. These fields are updated automatically in next year’s proforma.

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