6385: 2024 Tax Attribute Carryovers (2024)
Alaska · Alaska DOR · Used for tax years 2024
Alaska Form 6385, Tax Attribute Carryovers, reports net operating losses, unused capital losses, excess charitable contributions, and previously paid Alaska alternative minimum tax (AMT). It calculates available carryovers and carrybacks and the loss amounts to be used on the ret
Who files this form
The 2024 Form 6385 reports Alaska tax attributes, including net operating loss (NOL) carryovers, capital loss carryovers and carrybacks, excess charitable contributions, and Alaska alternative minimum tax (AMT) previously paid.
The form does not state a general filing requirement. Its NOL carryback section is only for insurance companies that qualify.
What you'll need
Have the following information available for the sections you complete:
- The name and EIN shown on the return, and the taxable year's beginning and ending dates if not using calendar year 2024.
- The name and EIN of the Alaska taxpayer that generated the attributes, if different from the taxpayer or taxpayers filing the return.
- Records of NOLs, capital losses, and excess charitable contributions, including tax year-end dates, amounts generated, amounts previously used, and charitable contributions converted to NOLs where requested.
- Alaska income from Schedule A, line 1, and the net Alaska capital and section 1231 gains requested on lines 11 and 15.
- Alaska AMT paid and AMT credits claimed for tax years beginning after 12/31/2022.
Common mistakes
- Do not enter negative numbers. The form says to enter all numbers as positive numbers.
- Do not omit the generating taxpayer's name and EIN when that taxpayer differs from those filing the return. Attach additional forms if necessary.
- Do not use the NOL carryback section unless you are an insurance company that qualifies. The form directs filers to see instructions, which were not provided here.
Questions people ask
How are NOL carryovers separated on the form?
Line 1 is for NOL carryovers generated in tax years beginning before 01/01/2018. Line 4d is for NOL carryovers generated in tax years beginning after 12/31/2017.
Where do I report the NOL carryover used?
Add lines 4a and 4f. Enter the result on line 4h and on Schedule A, line 2.
Where do I report capital loss carryovers and carrybacks used?
For a carryover, enter the lesser of line 10 or line 11 on line 12 and Schedule J, line 9. For a carryback, enter the lesser of line 14 or line 15 on line 16 and Schedule J, line 9.
Where does the charitable contribution carryover total go?
Add the amounts in line 17, column E. Enter the total on line 18 and Schedule K, line 6.
Which Alaska AMT payments are listed?
Line 19 lists Alaska net AMT paid on tax returns for tax years beginning after 12/31/2022. Subtract AMT credits claimed from AMT paid for each listed year, then total column D on line 20.