Updating carryover losses and credits

If your company has carryover losses and credits, you can manually input the associated amounts of the loss/credit into the appropriate year of expiration row in order to more accurately track the ending deferred balance by year of expiration.

Loss and Credit Expiration Schedule Actual input app (CA0311)

Use this input app to schedule the expected expiration of carryover losses and credits. Enter the year of origin and the gross amount of the loss/credit for each year of expiry. The year of expiry column is populated by the system with the next ten years.

This input app contains the following symbols in the Elements dimension (across):

• LCSYrOrigin_ASC—Year of Origin

  This column represents the year of origin of the carryover loss/credit.

• LCSYrExpiry_ASC—Year of Expiry

  This column represents the expected year of expiry of the carryover loss/credit.

• LCSYrAmount_ASC—Amount (Gross)

  This column represents the gross amount of the carryover loss/credit.

To update the loss and credit expiration schedule:

1. In the Tax Provision navigation pane, click Data Collection.
2. Expand Supplemental Disclosures.
3. Use the drop-down list or the symbol selector to select the appropriate entity. For more information, see “Using the Symbol Selector”.
4. Expand Expiration.
5. Use the drop-down list or the symbol selector to select the appropriate account. For more information, see “Using the Symbol Selector”.

   Note: Available accounts are National and Regional Losses and Credits. If a symbol is calculated by the system, that symbol is read-only and the total of the calculated and manual adjustment amounts are represented in the manual adjustment account.

6. Click CA0311 - Loss and Credit Expiration Schedule Actual.lvapp. The input app opens in the workspace.
7. Expand the LossCreditExpiration—Total category, and enter data manually for each appropriate symbol in the Controls dimension:

   Symbol	Description
   LCS_Expire01—Expire	Year one expiration detail.
   LCS_Expire02—Expire	Year two expiration detail.
   LCS_Expire03—Expire	Year three expiration detail.
   LCS_Expire04—Expire	Year four expiration detail.
   LCS_Expire05—Expire	Year five expiration detail.
   LCS_Expire06—Expire	Year six expiration detail.
   LCS_Expire07—Expire	Year seven expiration detail.
   LCS_Expire08—Expire	Year eight expiration detail.
   LCS_Expire09—Expire	Year nine expiration detail.
   LCS_Expire10—Expire	Year ten expiration detail.
   LCS_ExpireBeyond—Expire	Expiration detail for years beyond 10.
   LCS_ExpireNever—Expire Never	Loss/credits that never expire.
   LCS_Undescribed—Undescribed Amount	Undescribed amount, equal to the amount from the gross temporary difference rollforward (end of year balance) and the sum of the inputs. This cell is calculated.

8. When you are finished, click Submit.