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Screen DCNOL - District of Columbia Net Operating Loss (1065)

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Net Operating Loss for Loss Years Prior to 2000

NOL deduction from loss years prior to 2000
Select the Ptr Alloc button to specially allocate the total NOL loss deduction for loss years prior to 2000 to the partners using ratios other than the profit-sharing percentages.
Income (Loss)
The
Income (Loss)
fields should reflect the taxable income or net operating loss amounts for years prior to 2000. Enter losses as negative numbers.
Prior Year (Income Offset) NOL Utilized
UltraTax CS adds the amount in this field to the income or loss reflected in the
Income (Loss)
field to determine the amount available for carryover. Enter utilizations of NOL as positive numbers.

Apportioned Net Operating Loss for Loss Years 2000 and Later

Income (Loss)
Enter the apportioned net operating loss from the applicable years’ Forms D-30. The application automatically proformas these amounts from prior years and transfers the amounts utilized to Form D-30, Page 2, line 35. Enter losses as negative numbers.
Prior Year (Income Offset) NOL Utilized
UltraTax CS adds the amount in this field to the income or loss reflected in the
Income (Loss)
 field to determine the amount available for carryover. Enter utilizations of NOL as positive numbers.
Specially Allocate
Select the Ptr Alloc button to specially allocate the specified year’s NOL to the partners using ratios different from the profit-sharing percentages.

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