Drake Tax – 1120: Foreign Expropriation

Foreign expropriation capital losses cannot be carried back but can be carried forward up to 10 years. Marking the Foreign Expropriation field on screen 8949 indicates this restriction for a current year capital loss.

In View/Print mode, the following items display the foreign expropriation carryover amounts:

• Attachment D

• Wks Carry

Prior-year amounts can be entered on screen LOSS in the Foreign Expropriation Capital Losses section.

See the Schedule D (Form 1120) Instructions for details.