Formula that Looks Back and Sums (for tax calculation)

**dws178** · 05-14-2013, 03:31 PM

Ok guys,

I am struggling to create a formula that calculates tax based on net income. If net income is negative, I need the formula to calculate no tax until the loss that month is recovered, and then only tax the net positive amount. Not sure if I'm explaining this well, but I think it will make sense if you look at the example below. I'm sure it needs to be some combination of IF formulas, but I can't seem to make it work...

Thank you in advance for the help!

Douglas

Tax Calc Example.xlsx

**Melvinrobb** · 05-14-2013, 04:25 PM

Put the following formula in B4 and drag across:

Formula:

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**nemo74** · 05-14-2013, 04:50 PM

Originally Posted by Melvinrobb

Put the following formula in B4 and drag across:

Formula:

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nice work Melvin, I was wroking this out and you beat me to it. That is a nice formula, I was not thinking so simple.

DWS178 don't forget to mark your post as solved and possibly give Melvin some Rep!