Dividends Received Deduction (DRD) not limited if it creates an NOL

If the Dividends Received Deduction (DRD) results in a Net Operating Loss (NOL), the dividends received deduction isn't limited.
According to the instructions for Schedule C, line 9, column (c):
Generally, line 9, column (c) may not exceed the amount from the worksheet below. However, in a year in which an NOL occurs, this limitation does not apply even if the loss is created by the dividends-received deduction. See sections 172(d) and 246(b).
Note that when necessary, UltraTax CS/1120 calculates the DRD worksheet referenced in the instructions.
If you need to include the Dividends Received Deduction Limitation Worksheet with your return, you can find it in the
DivRec
folder, then
Forms View
.
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