24416 Form 1 Net operating loss (NOL) computation and 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by entering your corporation name and California corporation number at the top of the form. Ensure that you select the correct type of corporation from the options provided.
3. In Part I, report your current year NOL. Start with line 1, where you will enter your net loss from the appropriate form. Remember to enter this as a positive number.
4. Continue to line 2, where you will input any disaster losses included in line 1. Again, this should be a positive number.
5. Subtract line 2 from line 1 on line 3. If the result is zero or less, enter -0- as instructed.
6. Proceed to lines 4a and 4b to report losses incurred by new and eligible small businesses respectively. Add these amounts together for line 4c.
7. Complete lines 5 and 6 by calculating your general NOL and current year NOL based on previous entries.

Start using our platform today for free to streamline your document editing and form completion!