Screen MTNOL - Montana Net Operating Loss Adjustments (1040)

Show all hidden content

Overview

Use this screen to complete the Montana NOL Adjustment Worksheet.

NOL Carryover Income and Adjustments

Information entered in this section is used to complete the Montana NOL Adjustment Worksheet.
N0onbusiness deductions in excess of nonbusiness income: Nonbusiness capital losses / gains (Force)
UltraTax/1040-MT calculates nonbusiness capital gains and losses based on federally-coded (business / nonbusiness) designations on capital gains and losses. Use this field to force amounts calculated for quick data entry or when Montana amounts differ from the federally calculated amounts.
Nonbusiness deductions (Force)
UltraTax/1040-MT calculates nonbusiness capital gains and losses based on federally-coded (business / nonbusiness) designations on deductions. Use this field to force amounts calculated for quick corrections or when Montana amounts differ from the federally calculated amounts.
Nonbusiness income other than capital gains (Force)
UltraTax/1040-MT calculates nonbusiness income other than capital gains based on federally-coded income designations (business / nonbusiness). Use this field to force amounts calculated for quick data entry or when Montana amounts differ from the federally calculated amounts.
Adjustment for capital loss limitation: Business capital losses / gains (Force)
UltraTax/1040-MT calculates business capital gains and losses based on federally-coded (business / nonbusiness) designations on capital gains and losses. Use this field to force amounts calculated for quick data entry or when Montana amounts differ from the federally calculated amounts.
Net operating loss deduction for losses from prior years (Force)
Use this field to override the calculated amount on the Montana NOL deduction of prior years when no proforma data is available or when data entry is missing in MTCO Screen.

Excessive Business Loss

Information entered in this section is for the excessive business loss attributed to Montana only.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close