How do I enter a prior-year net operating loss in an AR1100CT, Arkansas Corporate Income Tax Return?
Enter a separate AR NOL screen for each prior year from which an NOL is available to be applied this year.
If you updated an AR1100CT return from last year, there is already a separate AR NOL screen for each NOL year, except for last year. If there was an NOL in that prior year, it must be entered. Page Down to create a new screen.
Each NOL screen identifies:
- the year the NOL was produced,
- the original amount of the NOL,
- the subsequent years and amounts of any application of the NOL,
- and the current-year application of the NOL.
The following example illustrates NOL screen completion in an AR1100CT return. In the example, there are prior-year losses from 2015, 2017 and 2018, of which $1,200 is applied to the current year. The losses consist of:
- a 2015 NOL of $500, of which $300 was previously applied and $200 is applied this year,
- a 2017 NOL of $1,000, of which $500 was previously applied and $500 is applied this year, and
- a 2018 NOL of $500, not previously applied, all of which is applied this year.
Three NOL screens are required:
The results appear on the AR NOL (ARCNOL in Drake18 and prior) page in View.
The total NOL applied this year appears on line 29 (line 31 in Drake16 and prior) of the AR1100CT:
For more information, review the AR Instructions.
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