Screen GACB - Georgia Net Operating Loss Carryback (1120)

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Carryback Adjustment

Eligible for two-year carryback of net operating loss
Enter the carryback period. This is a mandatory entry needed for Form GA IT-552 to calculate.
note
To calculate a 5-year carryback of a farming loss, you must have two units of the GACB Screen. On the first unit, enter information for the 3rd, 2nd, and 1st preceding tax years. Use the second unit of the GACB Screen to enter the 5th and 4th preceding years.
Carryback information: Net operating loss (Force)
Enter an amount to use an amount other than the calculated net operating loss for Georgia.
Carryback information: Net capital loss (Force)
Enter an amount to use a different value than the amount of net capital loss from the federal return.
Tax year ended
The dates in these fields default to the 36, 24, and 12 months prior to the current year end. To change the calculated date, enter a date in these fields.
Net operating loss
Enter the amount of net operating loss which is being carried back to each preceding year.
Capital loss (Force)
The application calculates and enters the allowable capital loss carryback deduction against each prior year’s taxable income. To change the calculated amount, enter the deduction in these fields.

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