Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Screens

Screen TNLLCCO - Tennessee Single Member LLC - NOL, Machine Credit Carryover (1040)

Show all hidden content

Overview

Use this screen to complete Form FAE 170 Schedule U, Net Operating Loss Carryover and Schedule V, Machinery Credit Carryover.

Net Operating Loss Carryover

Income or (Loss) For Original Return or as Amended
These fields should reflect income amounts as reported on Form FAE 170, Schedule J and loss amounts (enter as negative amounts) as calculated on Form FAE 170 Schedule K for each of the 15 prior taxable years.
Used in Prior Year(s) (NOL Utilized)
UltraTax CS adds the amounts in this column to the income or loss reflected in the
Income or (Loss) For Original Return or As Amended
 column to determine the amount of carryover still available to the current year.

Machinery Credit Carryover

For Original Return or as Amended
Enter the amount of unused machinery credit as calculated on Schedule T for each of the 15 prior taxable years in this column. Enter the credit carryovers as positive numbers.
Used in Prior Year(s)
UltraTax CS subtracts the amounts in this column from the credit reflected in the
For Original Return or as Amended
 column to determine the amount available for carryover. Enter the prior-year utilization amounts as positive numbers.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close