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Completing New York state corporate Form CT-3.4 in ProSeries

by Intuit Updated 1 year ago

This article will help you complete the Form CT-3.4 Net Operating Loss Deduction.

Most of the fields on the CT-3.4 will calculate automatically for you; however there are some areas to check to review transferred information:

Net Operating Loss Carryforward from Prior Years Smart Workhseet:

If you are entering a new return that was not prepared in ProSeries last year you'll need to enter both of these items manually:
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Net Operating Loss Smart Worksheet:

This smart worksheet falls under line 7 and should show the history of the NOL starting in 2015. This worksheet is here to help track your NOL carryovers
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  • Column A - Make sure that your tax year begin/end date are on the correct line
  • Column B - Enter the amount from CT-3 Part 3 line 17.  Enter losses with a negative
  • Column C - Will calculate the amount from Column B if a loss
  • Column D - Enter the amount of NOL used that year.  Note there will only be an amount in column D if you have income, not a loss in Column B.
  • Column G - Should show the loss remaining.  Amounts will be 0 or a negative amount is a loss.
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