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Screen MAUNOL2 - Massachusetts Member's Net Operating Loss Carryover, Page 2 (1120)
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Overview
Use this screen to complete Schedule NOL, Net Operating Loss Carryforward, and the MA Pre-Combination Net Operating Loss Limitation Worksheet for unitary members filing Form 355U. To enable this screen, you must mark the
Principal reporting corporation
checkbox in the Massachusetts tab of the Client Properties dialog in the principal reporting corporation client only.This screen is a multiple-unit input screen. The first unit of the input screen is always for the principal reporting corporation responsible for filing the unitary return for the group. A separate unit of the unitary input screens should be added for each affiliated corporation. For each affiliate, a unique unit number is assigned to the input screens in the Unitary folder.
The application enables you to share Massachusetts Combined Return information from the affiliate returns to the principal reporting corporation’s return for members of a unitary group. For each affiliate to share data with the principal reporting corporation filing Form 355U for the unitary group, you must enter the principal reporting corporation EIN in the Massachusetts tab of the Client Properties dialog. Do not mark the
Principal reporting corporation
checkbox. You must print preview each affiliate’s return to store combined return information for data sharing.Group Election to Increase Apportionment Factor Numerators
Limitation on use of pre-combination NOL carry forwards does not apply
Enter
X
if the limitation on the use of pre-combination net operating loss carry forwards does not apply. Refer to Massachusetts Letter Ruling 10-6 for additional information.Percentage Increase
Combined groups may make an election to increase the apportionment factor numerators, in the year the loss was incurred, in proportion to any over-all growth in Massachusetts property and payroll for all combined members. Enter as a decimal the percentage increase for each applicable year. The percentage increase will be applied to the apportionment factor numerators of all combined members.