Net Operating Loss (NOL) carryovers from the Beneficiary's K-1 Worksheets, line 11d, and 1040 Wkt 3, are calculated in the Amount field on line 21 of Form 1040. These amounts are subtracted from the total, so it may result in a negative number on line 21.
This information applies to all years of the UltimateTax software.
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