Schedule It-20nol (State Form 439) - Corporate Income Tax Indiana Net Operating Loss Deduction - 2007

ADVERTISEMENT

Schedule
Indiana Department of Revenue
Corporate Income Tax
IT-20NOL
Indiana Net Operating Loss Deduction
Page attachment sequence #9
State Form 439
(R6/ 8-07)
Name of Corporation or Organization
Federal Identifi cation Number
B
A
PART 1 — Computation of Indiana Net Operating Loss (NOL)
Loss Year Ending:
_________/_________/________
aa
Complete Schedule IT-20NOL for each loss year.
Taxable Income or Loss
1. Enter federal taxable income (loss), including special deductions but excluding any federal net operating loss
deduction (Form IT-20 line 3; IT-20NP line 1)................................................................................................................ 1.
IRC Section 172(d) Modifi cation for Loss Year
2. Enter an amount, to the extent required under IRC Section 172, which refl ects all other federal adjustments for
an NOL pursuant to IRC Section 172(d) (See Federal Form 1139, attach computation) .............................................. 2.
Adjusted Gross Income Modifi cation for Loss Year
3. Add back: All state income taxes based on or measured by income (includes property taxes before 1999) ............... 3.
4. Add back: All charitable contributions (IRC Section 170) ............................................................................................. 4.
5. Add back: Domestic production activities deduction (IRC Section 199) ....................................................................... 5.
6. Add or subtract: Net bonus depreciation allowance plus excess IRC Section 179 deduction ..................................... 6.
7. Deduct: Interest on U.S. government obligations less related expenses ...................................................................... 7.
8. Deduct: Foreign gross up (IRC Section 78) as determined on federal Form 1118 ........................................................ 8.
9. Deduct: All source non-business income or (loss) and non-unitary partnership distributions
(from IT-20 Schedule F line 10C) ................................................................................................................................. 9.
10. Total modifi ed income (Add lines 1 through 5, plus line 6; subtract lines 7, 8 and 9) ..................................................10.
Indiana Business Income or Loss
%
11. Enter Indiana apportionment percentage of loss year (Form IT-20 line 15d; IT-20NP line 8) ......................................11.
If apportionment of income is not applicable, enter the total amount from line 10 on line 12)
12. Indiana apportioned business income or (loss) (Multiply line 10 amount by percent on line 11) ................................12.
Previously Allocated and Apportioned Income or Loss Attributed to Indiana
13. Add Indiana non-business income or loss and Indiana non-unitary partnership income or loss
(from IT-20 Schedule F line 11D) .................................................................................................................................13.
14. Indiana modifi ed adjusted gross income or net operating (loss) (Add lines 12 and 13) .....................................14.
If line 14 is a negative fi gure, this is the NOL available to carry back or carry forward against modifi ed Indiana adjusted gross income. To claim
this deduction, you must apply the same carryback/carryover treatment as used for federal income tax purposes. Continue by entering line 14
loss fi gure in Part 2, column (4) for the taxable period the NOL deduction is initially applied.
If an Indiana net operating loss is computed and there is no attending federal NOL, check this box to relinquish the two, three, or fi ve year NOL
carry back provision for Indiana income tax purposes:
bb
Election to Waive Carry Back of the Indiana Net Operating Loss Deduction
PART 2 — Computation of Indiana Net Operating Loss Deduction and Carryover
Make required entries, as specifi ed to compute the amount of Indiana modifi ed adjusted gross income used. Add all entries across columns
(2), (3) & (4) for each tax year; enter result in column (5). If result is a loss, also enter loss in column (4) for the next carryover year.
Carryover: Update this schedule for each tax year. Claim the remaining NOL from column (4) as a positive deduction to your return.
Note: The carry back application to the third through the fi fth preceding tax year was eliminated, except for certain farm losses and losses
incurred in 2001 and 2002 or for loss years beginning before August 16, 1997.
(2)
(3)
(4)
(5)
(1)
Taxable Income
Add Back other Deductions
Indiana Net Operating
Indiana Adjusted Gross Income
List Tax Period
as last Determined
from Indiana Adjusted Gross
Loss Deduction for the
or Remaining Unused Net
Ending
(if zero or less, enter -0-)
Income in the Taxable Year
Taxable Year
Operating (Loss)
Carried to the preceding:
(
)
5th Year
(
)
4th year
(
)
3rd year
(
)
2nd year
(
)
1st year
Carried to the following:
(
)
1st year
(
)
2nd year
(
)
3rd year
(
)
4th year
(
)
5th year
(
)
6th year
(
)
7th year
(
)
8th year
(
)
9th year
(
)
10th year
Attach additional sheets to show carry forward application up to the 15th or 20th following tax year.

ADVERTISEMENT

00 votes

Related Articles

Top 20 Happy Easter Cards And Gift Tags To Download For Free
Top Ten Easter Arts And Crafts Activities For Your Kids
Free Easter Coloring Pages And Easter Printables For Your Kids

Related forms

Schedule It-20nol (state Form 439) - Corporate Income Tax Indiana Net Operating Loss Deduction Schedule It-20nol (state Form 439) - Corporate Income Tax Indiana Net Operating Loss Deduction Financial
Schedule It-20nol (state Form 439) - Corporate Income Tax - Indiana Net Operating Loss Deduction Schedule It-20nol (state Form 439) - Corporate Income Tax - Indiana Net Operating Loss Deduction Financial
State Form 439 - Schedule It-20nol - Corporate Income Tax Indiana Net Operating Loss Deduction State Form 439 - Schedule It-20nol - Corporate Income Tax Indiana Net Operating Loss Deduction Financial
State Form 439 - Schedule It-20nol - Corporate Income Tax Indiana Net Operating Loss Deduction State Form 439 - Schedule It-20nol - Corporate Income Tax Indiana Net Operating Loss Deduction Financial
State Form 439 - Schedule It-20nol - Corporate Income Tax Indiana Net Operating Loss Deduction State Form 439 - Schedule It-20nol - Corporate Income Tax Indiana Net Operating Loss Deduction Financial
State Form 439 - Schedule It-20nol - Corporate Income Tax Indiana Net Operating Loss Deduction State Form 439 - Schedule It-20nol - Corporate Income Tax Indiana Net Operating Loss Deduction Financial
Schedule It-40nol (state Form 46004) - Individual Income Tax Net Operating Loss Computation - 2010 Schedule It-40nol (state Form 46004) - Individual Income Tax Net Operating Loss Computation - 2010 Financial
Form It-41 (state Form 11458) - Fiduciary Income Tax Return Form It-41 (state Form 11458) - Fiduciary Income Tax Return Financial
Schedule Fit-20 Nol State Form 44624 - Computation Of Indiana Member's Net Operating Loss Deduction - Department Of Revenue Schedule Fit-20 Nol State Form 44624 - Computation Of Indiana Member's Net Operating Loss Deduction - Department Of Revenue Financial
State Form 44624 - Schedule Fit-20 Nol - Computation Of Indiana Member's Net Operating Loss Deduction State Form 44624 - Schedule Fit-20 Nol - Computation Of Indiana Member's Net Operating Loss Deduction Financial

Related Categories

Parent category: Financial
Download
Go