Sentences with phrase «operating loss deduction»

«(A) in determining the amount of the net operating loss deduction under section 172 of such shareholder for such taxable year, or

I noticed that Form 6251 for 2013 has a couple lines related to NOLs (Line 10: Net operating loss deduction, and Line 11: Alternative tax net operating loss deduction), but my CPA left both of those lines blank.

Line 11: Alternative Tax Net Operating Loss deduction: This is the sum of the alternative tax net operating loss (ATNOL) carryovers and carrybacks to the tax year.

Not exact matches

A net operating loss means tax deductions are greater than the taxable income, which usually happens when business expenses have exceeded earnings.

These provisions are partially offset by tax base - broadening provisions, including reducing the limit on interest deductions ($ 172 billion), eliminating the domestic production activities deduction ($ 95 billion), limiting carryover of net operating losses ($ 156 billion), eliminating the orphan drug tax credit ($ 54 billion), and eliminating private activity bonds ($ 39 billion).

States may also limit tax credits on these composite returns or disallow net operating losses or deductions that would be allowable on the individual return.

Deductions by C corporations are limited to 10 % of taxable income without regard to net operating loss and capital loss carrybacks, and carryforward is for five years.

To arrive at your alternative minimum taxable income, the form either eliminates or reduces some of the deductions and losses you originally claim such as your medical and dental deduction, net operating losses and investment interest expense, to name just a few.

If such deductions exceed taxable income then the expense can be treated as net operating loss to be carried forward to reduce taxes in future periods.