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 Percentage and Dollar Amounts

Taxable Income and CarryForward Percentage and Dollar Amounts

Table 29-4 Taxable Income and CarryForward Percentage and Dollar Amounts

Utilization Taxable Income   Utilization Carry forward   Example Use Case (Lesser of the two)
Percent Dollar Percent Dollar  
100% 20$ 100%  

Carry forward = 100$ and Taxable income =50$

Expected Utilized amount should be = -20$

100%   100% 10$

Carry forward = 100$ and Taxable income =50$

Expected Utilized amount should be = -10$

100% 20$ 100% 30$

Carry forward = 100$ and Taxable income =50$

Expected Utilized amount should be = -20$

100% 30$ 100% 20$

Carry forward = 100$ and Taxable income =50$

Expected Utilized amount should be = -20$

100% 30$ 100% 20$

Carry forward = 100$ and Taxable income =50$

Expected Utilized amount should be = -5$ (that is, 10% of taxable income(50$))
100% 30$ 10% 20$

Carry forward = 100$ and Taxable income =50$

Expected Utilized amount should be = -10$ (that is, 10% of Carry forward available (100$))