Screen OJCOLNOL — Columbus Net Operating Loss Carryover (1120)

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Net Operating Loss Carryover

Income (Loss)
Enter the amount of Columbus taxable income before net operating loss deduction. Enter income amounts as positive numbers and loss amounts as negative numbers for each of the prior tax years.
Prior Year (Income Offset) NOL Utilized
Use the fields in this column to show what portion of the first column was utilized. The application adds the amounts in the two columns to determine if there is a net operating loss carryover available to the current year.
  • If the corresponding field in the first column reflects income, enter a negative number in this column to show the amount of Columbus net operating loss deduction previously used.
  • If the corresponding field in the first column reflects a loss, enter a positive number in this column to show the amount of that loss previously used.

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