Screen MINOL-4 - Michigan Household Income Net Operating Loss Carryforward (1040)

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Overview

Use this screen to enter carryover information to complete the carryforward portion of Form MI-1045, Page 3, Computation of Federal Modified Taxable Income for Household Income (HHI) only.

Carryforward Information

Use this section to enter amounts for the net operating loss years being carried forward to the current year. These amounts are used to calculate the net operating loss available for use in the current-year computation of the household income. Enter amounts from the federal return prepared for the carryover year and adjusted for the effect of the Net Operating Loss carryover.
AGI (Force)
Enter amounts if different from the calculated amounts. UltraTax CS calculates the amount from federal adjusted gross income for the current year without the net operating loss being applied to it from the year in column A. Columns for subsequent years are allowed the previous year(s) net operating loss adjustments to AGI.
Capital loss in excess of gain (Force)
Enter amounts if different from the calculated amounts. UltraTax CS uses the loss amount transferred from federal Schedule D, not allowing a loss of more than $3,000.

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