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

# Schedule IT-40NOL Indiana Department of Revenue Enclosure

Sequence No. 16
Individual Income Tax
Net Operating Loss Computation
Your Name Your Social Security Number
IMPORTANT: Indiana net operating loss deductions claimed after Dec. 31, 2011 must be carried forward.

# 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

Part 2 - Record of Indiana N O L Application
1 2 3 4 5
Indiana A G I available to be
Enter the year to which you Indiana N O L available Enter the amount from Indiana N O L deduction: offset (from the Carryforward are carrying the loss.
Worksheet, line 5)
1st Year:
2nd Year:
3rd Year:
4th Year:
5th Year:
6th Year:
7th Year:
8th Year:
Attach additional sheets if necessary. for deduction (from the either line 7 or line 8 of the Enter the amount from Carryforward Worksheet, line Carryforward Worksheet. line 9 of the Carryforward 6; enter as positive amount) Worksheet

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) …

1. Subtotal: Add lines 1 and 2 and enter total here …
2. Enter some or all of the Indiana deductions from the intervening year's return (see instructions) …
3. Intervening year's Indiana A G I:

Subtract line 4 from line 3
(if less than zero, enter zero) …

1. N O L available for carryforward.

Enter as a positive number …
Complete line 7 OR line 8.

1. If line 5 is greater than or equal to line 6, enter the difference here …
2. 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 …
3. 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.