Screen MACO - Massachusetts Member's Section 1231 Losses (1120)

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Overview

Use this screen to complete the MA Section 1231 Carryover Worksheet when filing Form 355U for a Massachusetts affiliated group making or filing pursuant to an affiliated group election. A unit of Screen MACO must be completed for each member with prior year 1231 losses yet to be recaptured.

Section 1231 Losses

1231 Loss
Enter the amount of 1231 loss from each of the five prior taxable years as a positive number.
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 Schedule U-ST and the MA Section 1231 Carryover Worksheet.

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