Form TC-20L "Utah Application for Refund From a Corporation Loss Carryback" - Utah

What Is Form TC-20L?

This is a legal form that was released by the Utah State Tax Commission - a government authority operating within Utah. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on December 1, 2010;
  • The latest edition provided by the Utah State Tax Commission;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form TC-20L by clicking the link below or browse more documents and templates provided by the Utah State Tax Commission.

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Download Form TC-20L "Utah Application for Refund From a Corporation Loss Carryback" - Utah

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20898
Utah Application for Refund from
TC-20L
Rev. 12/10
a Corporation Loss Carryback
_ _ _ Mark “X” if a domestic production activities
deduction claimed in a carryback loss year
9999
Clear form
Print Form
_ _ _ Mark “X” if this is a REIT Loss Carryback
Corporation name
Mark “X” if this
is a new address:
Employer Identification Number:
Address
_ __ Physical
_ _ _ _ _ _ _ _ _ _ _ _ ______ _
address
City
State
ZIP Code
Utah Incorporation/Qualification Number:
_ __ Mailing
address
Foreign country (if not U.S.)
Telephone number
_ _ _ _ _ _ _ _ _ _ _ _ ______ _
Loss Carryback
/
/
1. Enter the taxable year-end of the loss year (enter as mm/dd/yyyy)............................
1 _____
_____
__ _ __ _ _
2. Loss from TC-20, Schedule A, or Utah REIT return (enter as a positive value) .........
2 _____ ______ __ __ _ _ . 00
3. Amount of loss on line 2 exceeding $1,000,000, if any...............................................
3 ___ _____ ____ __ _ __ . 00
If line 2 is less than $1,000,000, enter “0”
4. Loss available for carryback (subtract line 3 from line 2) ............................................
4 __ _____ ______ _ __ _ . 00
3rd Prior Taxable Year
/
/
5. Enter the 3rd prior taxable year-end (enter as mm/dd/yyyy).......................................
5 _____
_____
__ _ __ _ _
6. Utah taxable income from 3rd prior taxable year (enter only if gain) ..........................
6 __ _____ ______ _ __ _ . 00
7. Loss carryback amount (enter the lesser of line 4 or line 6) .......................................
7 __ _____ ______ _ __ _ . 00
8. Adjusted taxable income (subtract line 7 from line 6 – not less than zero) .................
8 __ _____ ______ _ __ _ . 00
9. Tax (multiply line 8 by 5% (.05), or enter minimum tax if greater) ...............................
9 __ _____ ______ _ __ _ . 00
10. Tax previously paid for 3rd prior taxable year..............................................................
10 _____ _____ __ __ _ __ . 00
11. Refund for 3rd prior taxable year (subtract line 9 from line 10)...............................
11 __ _____ ______ _ __ _ . 00
12. Loss remaining (subtract line 7 from line 4) ................................................................
12 _ _____ _____ ___ _ __ . 00
If line 12 is zero, skip lines 13 through 28 and go to line 29.
2nd Prior Taxable Year
/
/
13. Enter the 2nd prior taxable year-end (enter as mm/dd/yyyy)......................................
13 _____
_____
_ __ __ _ _
14. Utah taxable income from 2nd prior taxable year (enter only if gain) .........................
14 __ _____ ______ _ __ _ . 00
15. Loss carryback amount (enter the lesser of line 12 or line 14) ...................................
15 _ _____ _____ ___ _ __ . 00
16. Adjusted taxable income (subtract line 15 from line 14 – not less than zero) .............
16 __ _____ ______ _ __ _ . 00
17. Tax (multiply line 16 by 5% (.05), or minimum tax if greater) ......................................
17 __ _____ ______ _ __ _ . 00
18. Tax previously paid for 2nd prior taxable year.............................................................
18 _____ ______ ___ _ __ . 00
19. Refund for 2nd prior taxable year (subtract line 17 from line 18) ............................
19 __ _____ ______ _ __ _ . 00
20. Loss remaining (subtract line 15 from line 12) ............................................................
20 _ _____ _____ ___ _ __ . 00
If line 20 is zero, skip lines 21 through 28 and go to line 29.
Continue on page 2
20898
Utah Application for Refund from
TC-20L
Rev. 12/10
a Corporation Loss Carryback
_ _ _ Mark “X” if a domestic production activities
deduction claimed in a carryback loss year
9999
Clear form
Print Form
_ _ _ Mark “X” if this is a REIT Loss Carryback
Corporation name
Mark “X” if this
is a new address:
Employer Identification Number:
Address
_ __ Physical
_ _ _ _ _ _ _ _ _ _ _ _ ______ _
address
City
State
ZIP Code
Utah Incorporation/Qualification Number:
_ __ Mailing
address
Foreign country (if not U.S.)
Telephone number
_ _ _ _ _ _ _ _ _ _ _ _ ______ _
Loss Carryback
/
/
1. Enter the taxable year-end of the loss year (enter as mm/dd/yyyy)............................
1 _____
_____
__ _ __ _ _
2. Loss from TC-20, Schedule A, or Utah REIT return (enter as a positive value) .........
2 _____ ______ __ __ _ _ . 00
3. Amount of loss on line 2 exceeding $1,000,000, if any...............................................
3 ___ _____ ____ __ _ __ . 00
If line 2 is less than $1,000,000, enter “0”
4. Loss available for carryback (subtract line 3 from line 2) ............................................
4 __ _____ ______ _ __ _ . 00
3rd Prior Taxable Year
/
/
5. Enter the 3rd prior taxable year-end (enter as mm/dd/yyyy).......................................
5 _____
_____
__ _ __ _ _
6. Utah taxable income from 3rd prior taxable year (enter only if gain) ..........................
6 __ _____ ______ _ __ _ . 00
7. Loss carryback amount (enter the lesser of line 4 or line 6) .......................................
7 __ _____ ______ _ __ _ . 00
8. Adjusted taxable income (subtract line 7 from line 6 – not less than zero) .................
8 __ _____ ______ _ __ _ . 00
9. Tax (multiply line 8 by 5% (.05), or enter minimum tax if greater) ...............................
9 __ _____ ______ _ __ _ . 00
10. Tax previously paid for 3rd prior taxable year..............................................................
10 _____ _____ __ __ _ __ . 00
11. Refund for 3rd prior taxable year (subtract line 9 from line 10)...............................
11 __ _____ ______ _ __ _ . 00
12. Loss remaining (subtract line 7 from line 4) ................................................................
12 _ _____ _____ ___ _ __ . 00
If line 12 is zero, skip lines 13 through 28 and go to line 29.
2nd Prior Taxable Year
/
/
13. Enter the 2nd prior taxable year-end (enter as mm/dd/yyyy)......................................
13 _____
_____
_ __ __ _ _
14. Utah taxable income from 2nd prior taxable year (enter only if gain) .........................
14 __ _____ ______ _ __ _ . 00
15. Loss carryback amount (enter the lesser of line 12 or line 14) ...................................
15 _ _____ _____ ___ _ __ . 00
16. Adjusted taxable income (subtract line 15 from line 14 – not less than zero) .............
16 __ _____ ______ _ __ _ . 00
17. Tax (multiply line 16 by 5% (.05), or minimum tax if greater) ......................................
17 __ _____ ______ _ __ _ . 00
18. Tax previously paid for 2nd prior taxable year.............................................................
18 _____ ______ ___ _ __ . 00
19. Refund for 2nd prior taxable year (subtract line 17 from line 18) ............................
19 __ _____ ______ _ __ _ . 00
20. Loss remaining (subtract line 15 from line 12) ............................................................
20 _ _____ _____ ___ _ __ . 00
If line 20 is zero, skip lines 21 through 28 and go to line 29.
Continue on page 2
20899
TC-20L — continued
Page 2
1st Prior Taxable Year
/
/
21. Enter the 1st prior taxable year-end (enter as mm/dd/yyyy) .......................................
21 _____
_____
__ _ __ _ _
22. Utah taxable income from 1st prior taxable year (enter only if gain)...........................
22 _____________ _ _ __ . 00
23. Loss carryback amount (enter the lesser of line 20 or line 22) ...................................
23 _____________ _ __ _ . 00
24. Adjusted taxable income (subtract line 23 from line 22 – not less than zero) .............
24 _____________ _ _ __ . 00
25. Tax (multiply line 24 by 5% (.05), or minimum tax if greater) ......................................
25 _____________ _ _ __ . 00
26. Tax previously paid for 1st prior taxable year..............................................................
26 _____________ _ __ _ . 00
27. Refund for 1st prior taxable year (subtract line 25 from line 26) .............................
27 _____________ _ _ __ . 00
28. Loss remaining (subtract line 23 from line 20) ............................................................
28 _____________ _ __ _ . 00
Carryforward
29. Enter loss exceeding $1,000,000 from line 3, if any ...................................................
29 _____________ _ __ _ . 00
30. Total loss to carryforward (add lines 28 and 29) .........................................................
30 _____________ _ __ _ . 00
Under penalties of perjury, I declare to the best of my knowledge and belief,
this return and accompanying schedules are true, correct and complete.
Signature of officer
Title
Date
Check here if the Tax Commission
SIGN
may discuss this return with the
HERE
preparer shown below
Preparer’s signature
Date
Preparer’s PTIN
Paid
Preparer's
Name of preparer’s firm (or yourself, if self-employed)
Preparer’s phone no.
Preparer’s EIN
Section
Preparer’s complete address (street, city, state, ZIP)
USTC USE ONLY
MPORTANT: To protect your privacy, use the "Clear form" button when you are finished.
Clear form
TC-20L_i
12/10
20800
Instructions for TC-20L
General Instructions
3. Loss Exceeding $1,000,000
The carryback of a Utah net loss is limited to $1,000,000. Enter
Form TC-20L is used for calculating a refund due to the carryback
the loss exceeding $1,000,000. If the loss on line 2 is $1,000,000
of a Utah net loss shown on a corporation return. Form TC-20L
or less, enter zero.
must be used instead of filing amended returns for the carryback
years.
4. Loss Available for Carryback
For taxable years beginning on or after Jan. 1, 1994, if an election
Subtract line 3 from line 2. This is the loss allowed as a carryback
is made to forego the federal net operating loss carryback and
to the three prior taxable years.
only carry the loss forward, then the Utah net loss may not be
carried back unless a separate Utah election is made on form:
Third Prior Taxable Year
TC-20, Schedule A, or
TC-20MC, Schedule A, Part 2.
5. Taxable Year End of Third Prior Taxable Year
If no election is made on the loss return, the loss must be carried
Enter the end date for the third prior taxable year to the taxable
back in accordance with the following line-by-line instructions.
loss year in mm/dd/yyyy format (for example, enter Dec. 31, 2010
as 12/31/2010).
A Utah net loss from a taxable year beginning on or after Jan. 1,
1994, that is carried back, must first be applied to the third prior
6. Taxable Income of Third Prior Taxable Year
taxable year’s income. Any loss not entirely used in the third prior
Enter the taxable income from the third prior taxable year as filed,
taxable year must be carried back to the second prior taxable year.
amended or audited. Enter only if the taxable year showed a gain;
Any loss not entirely used in the second prior taxable year must
otherwise, enter zero.
then be carried back to the first prior taxable year. Any loss
remaining at that point may be carried forward to the next fifteen
7. Loss Carryback
taxable years.
Enter the lesser of line 4 (loss available) or line 6 (taxable income).
The carryback loss is limited to $1,000,000. Any loss in excess of
$1,000,000 must be carried forward.
8. Adjusted Taxable Income
Subtract line 7 (allowable loss carryback) from line 6 (taxable
income). Do not enter an amount less than zero.
Line-by-Line Instructions
9. Tax
Domestic Production Activities Deduction
Multiply line 8 (adjusted taxable income) by 5% (.05). Do not enter
If you claimed a deduction for domestic production activities
an amount less than the $100 minimum tax. The minimum tax on a
under IRC §199 in a carryback year, enter “X” where indicated.
combined return is $100 per corporation shown on Schedule M for
the third prior taxable year.
When a federal loss is carried back to a prior year in which an
IRC §199 deduction was claimed, the IRC §199 deduction may
10. Tax on Third Prior Taxable Year Return
be reduced or eliminated, depending on the revised amount of
federal taxable income for the year to which the loss is carried. In
Enter the tax previously paid on the return for the third prior
a tax year in which the IRC §199 deduction is reduced or
taxable year as filed, amended or audited.
eliminated on the federal return, Utah income will be increased.
In such instances, an amended Utah return must be filed to
11. Refund for Third Prior Taxable Year
reflect the increase in Utah income and the Utah tax.
Subtract line 9 (recomputed tax) from line 10 (previous tax). This is
the loss carryback refund for the third prior taxable year.
REIT Loss Carryback
If the loss carryback is from a Real Estate Investment Trust
12. Loss Remaining
(REIT) return, enter “X” where indicated.
Subtract line 7 (allowable loss carried back to the third prior
taxable year) from line 4 (total allowable loss carryback). This is
1. Taxable Year End of Loss Year
the remaining loss to be carried to the second prior taxable year.
Enter the end date for the taxable year of the loss in mm/dd/yyyy
format (for example, enter Dec. 31, 2010 as 12/31/2010).
Second Prior Taxable Year
2. Loss to be Carried Back
13. Taxable Year End of Second Prior Taxable Year
Enter the total Utah net loss as a positive number. The loss for a
Enter the end date for the second prior taxable year to the taxable
regular corporation is on TC-20, Schedule A; the loss for a Real
loss year in mm/dd/yyyy format (for example, enter Dec. 31, 2010
Estate Investment Trust is on TC-20MC, Schedule A, Part 2.
as 12/31/2010).
20800
14. Taxable Income of Second Prior Taxable Year
25. Tax
Enter the taxable income from the second prior taxable year as
Multiply line 24 (adjusted taxable income) by 5% (.05). Do not
filed, amended or audited. Enter only if the year showed a gain;
enter an amount less than the $100 minimum tax. The minimum
otherwise, enter zero.
tax on a combined return is $100 per corporation shown on
Schedule M for the first prior taxable year.
15. Loss Carryback
26. Tax on First Prior Taxable Year Return
Enter the lesser of line 12 (loss remaining) or line 14 (taxable
income).
Enter the tax previously paid on the return for the first prior
taxable year as filed, amended or audited.
16. Adjusted Taxable Income
27. Refund for First Prior Taxable Year
Subtract line 15 (allowable loss carryback) from line 14 (taxable
income). Do not enter an amount less than zero.
Subtract line 25 (recomputed tax) from line 26 (previous tax).
This is the loss carryback refund for the first prior taxable year.
17. Tax
28. Loss Remaining
Multiply line 16 (adjusted taxable income) by 5% (.05). Do not
enter an amount less than the $100 minimum tax. The minimum
Subtract line 23 (allowable loss carried back to the first prior
tax on a combined return is $100 per corporation shown on
taxable year) from line 20 (remaining loss carryback). This is the
Schedule M for the second prior taxable year.
remaining loss to be carried forward.
18. Tax on Second Prior Taxable Year Return
Loss Carryforward
Enter the tax previously paid on the return for the second prior
taxable year as filed, amended or audited.
29. Loss Exceeding $1,000,000
Enter the original loss shown on line 3 that exceeded
19. Refund for Second Prior Taxable Year
$1,000,000. This amount was not allowed to be carried back.
Subtract line 17 (recomputed tax) from line 18 (previous tax).
This is the loss carryback refund for the second prior taxable
30. Total Loss to Carry Forward
year.
Add lines 28 and 29. This is the loss available to be carried
forward.
20. Loss Remaining
Subtract line 15 (allowable loss carried back to the second prior
taxable year) from line 12 (remaining loss carryback). This is the
Important Note –
remaining loss to be carried to the first prior taxable year.
Nonrefundable Credits
First Prior Taxable Year
If you claimed a nonrefundable credit in any of the three carry-
back years, the loss carryback may reduce or eliminate the
21. Taxable Year End of First Prior Taxable Year
credit. You may be able to carry back or forward the credit to
other years. You must amend the applicable return after applica-
Enter the end date for the first prior taxable year to the taxable
tion of the loss carryback to claim any reduced nonrefundable
loss year in mm/dd/yyyy format (for example, enter Dec. 31,
credit that results from the carryback loss.
2010 as 12/31/2010).
22. Taxable Income of First Prior Taxable Year
Where to File
Enter the taxable income from the first prior taxable year as filed,
amended or audited. Enter only if the taxable year showed a
Utah State Tax Commission
gain; otherwise, enter zero.
210 N 1950 W
Salt Lake City, UT 84134-0300
23. Loss Carryback
Do NOT attach this TC-20L to your corporation return.
Enter the lesser of line 20 (loss remaining) or line 22 (taxable
income).
Questions
24. Adjusted Taxable Income
Subtract line 23 (allowable loss carryback) from line 22 (taxable
Call Taxpayer Services at 801-297-2200, or if outside the Salt
income). Do not enter an amount less than zero.
Lake area 1-800-662-4335, if you need assistance in completing
this form