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Screen MINOLCO - Michigan Net Operating Loss Prior Year Carryover Data (1040)

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Overview

Use this screen to enter carryover information to complete the Michigan NOL Carryforward Used Worksheet and Michigan NOL Carryover Information.

Prior Year Carryover Information

Use this section to enter amounts for regular income Net Operating Loss and amounts used for all prior years.
Loss Year Michigan Net Operating Loss
Enter the original MI NOL calculated on Form MI-1045 in the
Michigan Net Operating Loss
 column.
Loss Year Amount utilized, Including any prior year modification adjustments used, includign any DPAD and excess capital loss
Enter the amount of original MI NOL used in prior years for the NOL deduction in the
Amount Utilized
 column. Include modification adjustments used, including any DPAD and excess capital loss. Note: The total modifications were not included in the MI NOL Used Carryforward Worksheet for any years prior to 2021 when this worksheet calculated.
Loss Year Carryover Available
The amount of original MI NOL available for the current year in the
Carryover Available
 column is calculated using the
Michigan Net Operating Loss
 field and the
Amount Utilitzed, including any prior year modification adjustments used, includging any DPAD and excess capital loss
 field. The NOL amounts available in the
Carryover Available
 field are applied to the earliest year first through the current year.
NOL Carryovers from 2018-2021
Use this field to include the amount of NOL available from Group 2 NOLs for the current year.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • State: Michigan

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