1. Administering Tax Reporting
  2. Working with Net Operating Losses (NOL)/Credits
  3. Learning NOL Automation Calculation Rules
  4. Utilizing Tax Loss/Credit
  5. Example Calculation
  6. Taxable Income and CarryForward Amount

Taxable Income and CarryForward Amount

Table 28-3 Taxable Income and CarryForward Amount

Utilization Taxable Income   Utilization Carry forward   Example Use Case (Lesser of the two)
Percent Dollar Percent Dollar  
  1000   1000

Carry forward = 5000$ and Taxable income =5000$

Expected Utilized amount should be = -1000$

  1000   1000

Carry forward = 100$ and Taxable income =200$

Expected Utilized amount should be = -100$

  500   1000

Carry forward = 100$ and Taxable income =50$

Expected Utilized amount should be = -50$

  500   1000

Carry forward = 1000$ and Taxable income =200$

Expected Utilized amount should be = -200$

  500   1000

Carry forward = 100$ and Taxable income = 500$

Expected Utilized amount should be = -100$