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Alaska Free Printable  for 2020 Alaska Tax Attributes Carryovers Instructions

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Tax Attributes Carryovers Instructions
Form 6385i

Instructions for Form 6385 Tax Attributes Carryovers GENERAL INSTRUCTIONS Purpose of Form Use Form 6385 to claim carryovers and carrybacks of net operating loss (NOL), excess charitable contributions, and unused capital losses. If you are claiming Alaska credit for prior year minimum tax (on Schedule A, line 11), Form 6385 is also required to show the net Alaska alternative minimum tax (AMT) previously paid. SPECIFIC INSTRUCTIONS Enter all numbers as positive numbers. If you need additional lines for any section of the form, attach additional Forms 6385 as necessary. If you are claiming tax attributes from an Alaska taxpayer that is different from the taxpayer(s) filing the return, write the name and EIN of the Alaska taxpayer which generated the attributes in the space provided. Prepare two Forms 6385, if you are claiming tax attributes from a different Alaska taxpayer, in addition to tax attributes generated by the taxpayer(s) filing the return. Line 1, Net operating loss (NOL) carryover: In column A, enter the year-end of the tax year in which the NOL was generated, in the format mm/dd/yyyy. In column B, enter the NOL generated in that year. In column C, enter the amount of any charitable contribution carryover that was converted to NOL. In column D, enter the amount of NOL (from the listed year) that was previously utilized. In column E, enter the amount of NOL available for the current tax year. Line 3, Alaska income: Enter the amount from Schedule A, line 1 (of the relevant Alaska corporate income tax return), but not less than zero. Line 4, NOL carryover to be utilized: Enter the lesser of line 2 or line 3. Enter this amount on Schedule A, line 2 in the space provided for “carryover” of the relevant Alaska corporate income tax return. Line 5, NOL carryback to be utilized: In column A, enter the year-end of the tax year in which the NOL was generated, in the format mm/dd/yyyy. In column B, enter the NOL generated in that year. In column C, enter the amount of NOL (from the listed year) that was previously utilized. In column D, enter the amount of NOL available for the current tax year. Line 7: Subtract line 4 (NOL carryover utilized) from line 3 (current Alaska taxable income before NOL). This is the amount of taxable income that was not offset by NOL carryovers, and is the amount that may be offset by carrybacks. Line 8, NOL carryback to be utilized: Enter the lesser of line 6 or line 7. Enter this amount on Schedule A, line 2 in the space provided for “carryback” of the relevant Alaska corporate income tax return. Line 9, Unused capital loss carryover: In column A, enter the year-end of the tax year in which the unused capital loss was generated. In column B, enter the unused capital loss. In column C, enter the capital loss previously utilized. In column D, enter the unused capital loss available for the current tax year. Line 10, Total capital loss carryover available: Enter the total of line 9, column D. This is the unused capital loss available for use in the current year, subject to limitations in Internal Revenue Code Section 1212. Line 11, Net Alaska capital and section 1231 gains: Enter the amount of current net Alaska and section 1231 gains against which unused capital losses may be utilized. This is the amount from (an as-if) Schedule J, the sum of lines 17–18, without an entry on line 9. Line 12, Capital loss carryover to be utilized: Enter the lesser of line 10 or line 11, here and on Schedule J, line 9, in the space provided for “carryover utilized” of the relevant Alaska corporate income tax return. Line 13, Unused capital loss for carryback: In column A, enter the year-end of the tax year in which the unused capital loss was generated. In column B, enter the unused capital loss. In column C, enter the capital loss previously utilized. In column D, enter the unused capital loss available to be carried back to the current tax year. Line 15, Net Alaska capital and section 1231 gains limited for carryback purposes: Enter the amount of current net Alaska and section 1231 gains (after carryovers) against which unused capital loss carrybacks may be utilized. This is the amount from (an as-if) Schedule J, the sum of lines 17–18, including carryover losses utilized on line 9, but excluding any carrybacks. Note that a capital loss carryback cannot increase or produce a net operating loss for the taxable year to which it is being carried back. Line 16, Capital loss carryback to be utilized: Enter the lesser of line 14 or line 15, and on Schedule J, line 9, in the space provided for “carryback utilized” of the relevant Alaska corporate income tax return. Line 17, Excess charitable contributions: In column A, enter the year-end of the tax year in which excess charitable contributions were generated, in the format mm/dd/yyyy. In column B, enter the excess charitable contributions that were not deductible in the preceding year. In column C, enter the charitable contributions converted to NOL for the relevant tax year. In column D, enter the charitable contributions previously utilized. In column E, enter the amount of excess charitable contributions available for the current tax year. Line 19, Alaska net alternative minimum tax (AMT) previously paid: You must complete Form 6385, lines 19 and 20, if you are claiming an Alaska credit for prior year minimum tax (reported on Schedule A, line 11 of applicable Alaska corporate income tax return). You may not claim an Alaska credit for prior year minimum tax in excess of the Alaska net AMT paid in preceding years. 0405-6385i Rev 02/05/19- page 1
Extracted from PDF file 2019-alaska-form-6385i.pdf, last modified February 2019

More about the Alaska Form 6385i Corporate Income Tax TY 2019

We last updated the Tax Attributes Carryovers Instructions in March 2020, so this is the latest version of Form 6385i, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 6385i directly from TaxFormFinder. You can print other Alaska tax forms here.

Other Alaska Corporate Income Tax Forms:

TaxFormFinder has an additional 30 Alaska income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 6240 Payment Voucher-Corporation Net Income Tax
Form 6000 Alaska Corporation Net Income Tax Return
Form 6385 Tax Attributes Carryovers
Form 6000i Forms 6000 and 6020 (Formerly Forms 611 and 611SF) Alaska Corporation Net Income Tax Return Instructions
Form 6390 Federal-based Credits

Download all AK tax forms View all 31 Alaska Income Tax Forms


Form Sources:

Alaska usually releases forms for the current tax year between January and April. We last updated Alaska Form 6385i from the Department of Revenue in March 2020.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Alaska Form 6385i

We have a total of five past-year versions of Form 6385i in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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