Screen AKCO - Alaska Other Carryovers (1120)

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Net Capital Loss

Net Capital Gain (Net Capital Loss)
Enter the capital gain or loss information for each of the five prior taxable years. The application uses this information to calculate Form 6000, Schedule J; Form 6385, Tax Attribute Carryovers, and the AK Carryover Worksheet.
Prior Year (Gain Offset) Or Loss Utilized
Enter the amount of prior year capital gain offset as a positive amount or the amount of prior year capital loss carryover utilized as a negative amount. The application uses this information to calculate Form 6000, Schedule J; Form 6385, Tax Attribute Carryovers, and the AK Carryover Worksheet.
Use these fields to calculate the consolidated capital loss deduction
If this field is blank, the application calculates the AK Consolidated Capital Loss Carryover and Carryback Worksheet using the combined amounts from the parent and all subsidiaries.
note
This field applies only to those using the Consolidated feature. Enter X to instruct the application to use the consolidated corporation’s capital loss information entered in this section to calculate the AK Carryover Worksheet.

Section 1231 Losses

1231 Loss
Enter the amount of 1231 loss from each of the five prior taxable years as a positive number. The application uses the amount in the calculation of the AK Carryover Worksheet.
Prior Year Recaptures
Enter the amount of the 1231 loss previously recaptured as a positive amount. The application subtracts the amount entered here from the amount in the first column to determine if there are 1231 losses yet to be recaptured on Form 6000, Schedule J and the AK Carryover Worksheet.

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