IT-40NOL — Net Operating Loss Computation (Individual)

# preamble

Individual Income Tax Net Operating Loss Computation

# Schedule IT-40NOL Enclosure

Sequence No. 16 1 2 3 4 5 Enter the year to which you are carrying the loss. Indiana A G I available to be offset (from the Carryforward Worksheet, line 5) Indiana N O L available for deduction (from the Carryforward Worksheet, line 6; enter as positive amount) Enter the amount from either line 7 or line 8 of the Carryforward Worksheet. Indiana N O L deduction: Enter the amount from line 9 of the Carryforward W orksheet 1st Year: 2nd Year: 3rd Year: 4th Year: 5th Year: 6th Year: 7th Year: 8th Year: Attach additional sheets if necessary. Part 2 - Record of Indiana N O L Application

# Part 1 - Computation of Indiana Net Operating Loss

Loss Year _______________________________________________________________________________________ 1. Enter your federal A G I from Line 1, Form IT-40 or Indiana A G I from Line 1, Form IT-40PNR ________ 1 2. Enter certain add-backs and deductions (see instructions) ___________________________________ 2 3. Enter modifications required for federal N O Ls under I R C section 172, I R C section 512, or any other I R C section (see instructions) _______________________________________________ 3 4. Add lines 1, 2 and 3. If the amount is greater than zero, enter zero ____________________________ 4 5. Enter (as a negative number) certain federal net operating losses (see instructions) _______________ 5 6. Enter certain add-backs or deductions from the loss year IT-40 or IT-40PNR (see instructions) ______ 6 7. Add lines 5 and 6. If the amount is greater than zero, enter zero ______________________________ 7 8. Add lines 4 and 7. This is your Indiana N O L available to carryforward _______________ Indiana N O L 8 IMPORTANT: Indiana net operating loss deductions claimed after Dec. 31, 2011 must be carried forward. Your Name Your Social Security Number

Schedule IT-40NOL Carryforward Worksheet: Enter Loss Year From the intervening year's IT-40/IT-40PNR: Column A Column B Column C Column D Column E 1st following tax year 2nd following tax year 3rd following tax year 4th following tax year 5th following tax year 1. Enter the amount from IT-40/IT-40PNR line 1 (if reporting from IT-40PNR for tax year 2008 or before, skip line 2 and enter the same amount on line 3) .......... 2. Enter some or all of the Indiana addbacks from the intervening year's return (see instructions) ................................... 3. Subtotal: Add lines 1 and 2 and enter total here ...................................... 4. Enter some or all of the Indiana deductions from the intervening year's return (see instructions) ......................... 5. Intervening year's Indiana A G I: Subtract line 4 from line 3 (if less than zero, enter zero)................. 6. N O L available for carryforward. Enter as a positive number .................. Complete line 7 OR line 8. 7. If line 5 is greater than or equal to line 6, enter the difference here ............ 8. If line 6 is greater than line 5, enter the difference here and on line 6 in the next column. This is the remaining N O L available to be carried forward .............. 9. Enter the smaller of the amount from line 5 or 6. This is your Indiana N O L deduction ............................................... Complete one column before going to the next column. See instructions. Note: If you have previously carried a loss to this year, skip lines 1 through 4. Enter on line 5 the modified Indiana A G I from the previous year's worksheet.