Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

NC D-400 Net Operating Loss Carryforward

tscott
Level 3

Why does the NC Individual program (D-400) not carry the prior year loss forward as a deduction on Supplemental Schedule Line 39. It adds it back to NC income (on line 7 D-400 Sch S) but does not deduct in on line 39 D-400 Sch S?

0 Cheers
2 Comments 2
Terry53029
Level 14
Level 14

Don't do NC, but took a quick look, and it seem to be able to deduct carryover loss it must be less than taxable income for the year. Here is link for you to research. 

https://casetext.com/statute/general-statutes-of-north-carolina/chapter-105-taxation/subchapter-i-le....

0 Cheers
tscott
Level 3

Thank you....in me situation the NOL carryover is less than this years taxable income