Screen MTNOL-2 - Montana Net Operating Loss Carryback (1040)

Show all hidden content

Overview

Use this screen to make NOL elections and complete Form NOL, Schedule B.
note
MT requires an amended return for each carry back year.

Election

Elect to relinquish carryback of NOL incurred during the current tax year
Enter
X
to elect to relinquish the carryback of a net operating loss incurred during the current tax year. When the return is being filed electronically, the tax election will be included in the electronic file.

Schedule B - NOL Carryback/Carryforward

If an NOL is not fully absorbed in a year to which it is carried, complete Schedule B to calculate the amount to carry to the next carryback year. Complete the prior year information for each year the NOL is being carried back.
Generally, if an NOL is more than the modified taxable income for the earliest year to which it is carried, you must use Schedule B to calculate the amount of the NOL to be carried to the next tax year. The amount of the carryover is generally the excess, if any, of the NOL carryback over the modified taxable income for that earlier year.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close