Drake Tax – AR: Form AR1000NOL
Article #: 17932
Last Updated: December 05, 2024
Starting with tax year 2022, the AR DFA has updated Form AR1000NOL form for individual returns.
Use the LOSS screen to record all carryover data. Entries must be made on this screen even if data carried over from a prior year. Key the information under the column(s) for the year(s) the NOL originated. When there is an amount claimed for each year, the amounts need to be added together.
The NOL claimed will carry to the AR-OI Form, line 11. When an NOL expires, it must be directly entered in the Amount Expired row under the 2024 column.
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Losses occurring on or after January 1, 2020, but before January 1, 2021, may be carried forward for a total period of eight (8) years.
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Losses occurring before January 1, 2020, may be carried forward for a total period of five (5) years.
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Starting January 1, 2021 NOLs can be carried forward up to ten (10) years.
See the AR 1000 NOL instructions for more information.
When you update your return from 2021, and there is an NOL carryforward to 2022, open the LOSS screen in data entry to verify the amounts. There is now a link at the top of the screen called Access updated 2021 NOL data entry. If there were multiple LOSS screens that updated from 2021, a list of all screens will be displayed. Select the first loss to see the detailed information. The screen will show the first year each NOL was produced, along with any amounts previously used and amounts that carried to 2022.