Form Nol - Nebraska Net Operating Loss Worksheet printable pdf download

Nebraska Net Operating Loss Worksheet

FORM

to Compute Loss Incurred During Tax Years 1988 and After

NOL

nebraska

• Attach Federal Form 1040X or 1045 and Schedule A (Form 1045)

department

Taxable year of Net Operating Loss beginning _____________, 19 ___and ending ____________, 19 ___

Worksheet

of revenue

Name(s) as Shown on Form 1040N

Your Social Security Number

Spouse’s Number

1 Federal adjusted gross income (AGI) (line 5, Form 1040N) ................................................................................

2 Adjustments increasing federal AGI (see instructions) .............................................

3 Adjustments decreasing federal AGI (see instructions) ...........................................

4 Federal AGI after Nebraska adjustments (line 1 plus line 2, minus line 3) .........................................................

5 a Nebraska exemption deduction (line 6, Form 1040N) (1988-1992 only) .............. 5a

b Nebraska standard deduction or Nebraska itemized deductions ......................... 5b

Total Nebraska deductions (total of lines 5a and 5b) ..........................................................................................

6 Line 4 minus line 5 (Note: If line 6 is zero or greater, do not complete the rest of this worksheet. You do

not have a Nebraska net operating loss.) ............................................................................................................

ADJUSTMENTS

7 Nebraska exemption deduction from line 5a above (1988-1992 only) ................................................................

8 Nonbusiness capital losses before limitation (see Schedule A,

Federal Form 1045). Enter as a positive number ....................................................

9 Nonbusiness capital gains (see Schedule A, Federal Form 1045) ..........................

10 If the amount on line 8 is more than the amount on line 9, enter difference;

otherwise, enter -0- ................................................................................................... 10

11 If the amount on line 9 is more than the amount on line 8, enter difference;

otherwise, enter -0- ................................................................................................... 11

12 Nonbusiness deductions (see instructions) .............................................................. 12

13 Nonbusiness income other than capital gains (see Schedule A,

Federal Form 1045) ................................................................................................. 13

14 Total of lines 11 and 13 ............................................................................................ 14

15 If the amount on line 12 is more than the amount on line 14, enter difference; otherwise, enter -0- .................. 15

16 If the amount on line 14 is more than the amount on line 12, enter difference;

otherwise, enter -0-. Do not enter more than line 11 ................................................ 16

17 Total business capital losses before limitation (see Schedule A,

Federal Form 1045). Enter as a positive number ..................................................... 17

18 Total business capital gains (see Schedule A, Federal Form 1045) ........................ 18

19 Total of lines 16 and 18 ............................................................................................ 19

20 If the amount on line 17 is more than the amount on line 19, enter difference;

otherwise, enter -0- ................................................................................................... 20

• See special instructions for tax years 1988 through 1996 on back of form

21 Add lines 10 and 20 .................................................................................................. 21

22 Enter the loss, if any, from line 17 of Schedule D, Federal Form 1040. (Estates

and trusts, enter the loss, if any, from line 16, column (3), of Schedule D,

Federal Form 1041). Enter as a positive number. If you do not have a loss on

that line, skip lines 22 through 24 and enter on line 25 the amount from line 21 ..... 22

23 Enter the loss from line 18 of Schedule D, Form 1040. (Estates and trusts, enter

the loss from line 17 of Schedule D, Form 1041). Enter as a positive number ........ 23

24 Subtract line 23 from line 22 ..................................................................................... 24

25 Subtract line 24 from line 21 ................................................................................................................................. 25

26 Net operating loss deduction for losses from other years. Enter as a positive number ....................................... 26

27 Add lines 7, 15, 25, and 26 ................................................................................................................................... 27

28 Nebraska net operating loss (combine lines 6 and 27). Note: If the combined amount is zero or greater,

you do not have a Nebraska net operating loss ................................................................................................... 28

ATTACH THIS WORKSHEET TO YOUR AMENDED NEBRASKA INDIVIDUAL INCOME TAX RETURN

NONRESIDENTS AND PARTIAL-YEAR RESIDENTS — COMPLETE SCHEDULE I ON REVERSE SIDE

8-451-88 Rev. 11-99 Supersedes 8-451-88 Rev. 10-98