RCT-103: 2024 Net Operating Loss Schedule (RCT-103) (2024)
Pennsylvania · Pennsylvania DOR · Used for tax years 2024
Pennsylvania Form RCT-103 is the 2024 Net Operating Loss Schedule filed with RCT-101. It reports net loss carryforwards, calculates the net operating loss deduction allowed for the current tax period, and tracks losses carried forward to the next period.
Who files this form
RCT-103 is the 2024 Net Operating Loss Schedule for corporations reporting net operating loss carryforwards and the deduction allowed for the current tax period. The form says to file it with RCT-101.
What you'll need
Have these items available to complete the schedule:
- Corporation name, FEIN, and tax year beginning and ending dates.
- Taxable income from RCT-101, Section C, Line 10.
- Tax period beginning and ending dates for the losses listed in Part B.
- Net loss carryforward amounts, amounts deducted in the current period, and amounts carried forward to the next period.
- The REV-1200 instructions, which the form references for the percentage used on Part A, Line 3.
How to file
File RCT-103 with RCT-101. Carry the net operating loss deduction allowed from Part A, Line 4, to RCT-101, Page 2, Line 11.
The supplied form text does not provide a mailing address or e-filing instructions.
Common mistakes
- Do not include the current-tax-year row in the totals for Columns C and D. The total line specifies Lines 1–20 only.
- Note that the current-tax-year row is marked “LOSS ONLY.”
- Do not overlook the direction to file RCT-103 with RCT-101.
- For the percentage on Part A, Line 3, follow the form’s reference to the REV-1200 instructions. The percentage is not supplied in the provided text.
Questions people ask
Where do I get the taxable income for Part A, Line 1?
Use the taxable income from RCT-101, Section C, Line 10.
What goes on Part A, Line 2?
Enter the total net operating loss carryforward to the current period from Column C.
What percentage do I use on Part A, Line 3?
The form directs you to the REV-1200 instructions. The provided form text does not state the percentage.
Where do I report the allowed deduction on RCT-101?
Carry the amount from Part A, Line 4, to RCT-101, Page 2, Line 11.
Where do I show losses carried forward to the next period?
Use Part B, Column E, labeled “Net Loss Carryforward to Next Period.”