The system tracks tax losses in these categories:

• Regional Tax Losses —Current—Used to bring taxable income up to 0 for an entity with a loss in the current year which should be carried forward.

• Regional Tax Losses—Carryforward—Used to record the use of any net operating loss carryforward against the current year taxable income.

When configured, National Tax Losses and National Special Deductions from the National Current Provision can be deductible by Regional Jurisdiction.