Let's look at how to properly create a complex nested IF statement using multiple IFs, and when to recognize that it's time to use another tool in your Excel arsenal.

If you selected IF, the Function arguments dialog box displays the arguments for the IF function. To nest another function, you can enter it into the argument box.

How to use the IF function (combined with the AND, OR, and NOT functions) in Excel to make logical comparisons between given values.

How to use the IF function in Excel to make logical comparisons between data values.

When one function (we'll call this Function B) is used as an argument in another function (we'll call this Function A), Function B acts as a second-level function. For example, the AVERAGE …

The IFS function checks whether one or more conditions are met, and returns a value that corresponds to the first TRUE condition. IFS can take the place of multiple nested IF …

Use AND and OR together or with the IF function. For example, calculate who earns a commission or find data that meets multiple conditions.

For example, the AVERAGE function and the SUM function are both second-level functions if they are used as arguments of the IF function. A function nested within the nested AVERAGE …

With the Evaluate Formula dialog box, you can see how a nested formula calculates its result by inspecting its intermediate calculations and logical tests.

To resolve it, try rewriting your formula. If you have a nested formula, you can try using the Evaluate Formula tool to identify where the #CALC! error is occurring in your formula.