Alternative Tax Net Operating Loss - ATNOL


Alternative Tax Net Operating Loss - ATNOL

The excess of deductions allowed over the income recognized for alternative minimum tax (AMT) purposes. It is calculated the same way that net operating losses (NOL) are, but with additional rules covering deductions, exclusions and preferences related to AMT.

Section 56 of the Internal Revenue Code (Title 26) permits taxpayers to substitute the net operating loss with ATNOL when calculating alternative minimum tax. The amount of ATNOL that can be deducted when calculating AMT income cannot exceed 90% of the obligation. If ATNOL exceeds this limit it can still be carried back or forward, but the ATNOLD limit will still apply to the carryback or carryforward year.

When corporations reach a certain size, they can become subject to an alternative minimum tax. Only years in which a corporation is subject to AMT rules will ATNOL rules also apply.

When reporting ATNOL, taxpayers file Form 1045 and Form 6251.


Investment dictionary. . 2012.

Look at other dictionaries:

  • Tax Attribute — A type of loss or tax credit that must be reduced as a result of the exclusion of debt cancellation from a taxpayer s gross income. Tax attributes are adjusted when a taxpayer declares bankruptcy. Tax attributes include net operating losses and… …   Investment dictionary

  • Tax deduction — This article is about the deduction of expenses for the purpose of calculating taxable income. For tax deducted at source, see Withholding tax. Taxation An aspect of fiscal policy …   Wikipedia

  • income tax — a tax levied on incomes, esp. an annual government tax on personal incomes. [1790 1800] * * * Levy imposed by public authority on the incomes of persons or corporations within its jurisdiction. In nations with an advanced system of private… …   Universalium

  • Corporate tax — Taxation An aspect of fiscal policy …   Wikipedia

  • Corporate tax in the United States — Part of a series on Taxation Taxation in the United States …   Wikipedia

  • accounting — /euh kown ting/, n. 1. the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.… …   Universalium

  • Cancellation of Debt (COD) Income — Part of a series on Taxation Taxation in the United States …   Wikipedia

  • Form 1045: Application For Tentative Refund — A tax form distributed by the Internal Revenue Service (IRS) and used by individuals, estates and trusts to apply for a tax refund. Form 1045 is used to request a refund resulting from either a carryback of a net operating loss (NOL), unused… …   Investment dictionary

  • Combined reporting — Some jurisdictions permit or require combined reporting or combined or consolidated filing of income tax returns. Such returns include income, deductions, and other items of multiple related corporations, and may compute tax as if such multiple… …   Wikipedia

  • Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium

  • Media and Publishing — ▪ 2007 Introduction The Frankfurt Book Fair enjoyed a record number of exhibitors, and the distribution of free newspapers surged. TV broadcasters experimented with ways of engaging their audience via the Internet; mobile TV grew; magazine… …   Universalium


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.