Current year net operating losses

If you make an election to forego the current year federal net operating loss (NOL) carryback, the same federal election is considered made for Utah tax purposes, according to the Utah tax code.
The application makes the same election for Utah on Form TC-20, Schedule A, line 15 or Form TC-20MC, Schedule A, Part 2, line 6, unless you mark the
Carryback Utah loss if election made to forego federal net operating loss carryback
checkbox on the UTCB screen to elect a carryback for Utah purposes.
If you don't make a federal election to forego the carryback of the net operating loss, the Utah tax code states that you need to carryback Utah net operating losses to the earliest of the 3 preceding tax years. To carryback a Utah net operating loss, complete the UTCB screen. Make sure you enter only those preceding years with income.
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