Form Nol-Pre-99 - Net Operating Loss Worksheet October 2008 Page 2
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NOL
Calculation of Loss Absorbed in Carryover Years
Year _____
Year _____
Year _____
Year _____
1. Federal adjusted gross income as last determined
(w/o loss) ........................................................................
__________
__________
__________
_________
2. Add: Adjustments
(a) Capital gain deduction (Federal) .........................
__________
__________
__________
_________
(b) Non-Montana interest ..........................................
__________
__________
__________
_________
(c) Federal refund .....................................................
__________
__________
__________
_________
(d) Capital loss deduction .........................................
__________
__________
__________
_________
3. Federal adjusted gross income as adjusted
(add lines 1, 2a, 2b, 2c and 2d) ......................................
__________
__________
__________
_________
4. Less: Itemized deductions or standard deduction
(complete lines A through O) ..........................................
__________
__________
__________
_________
5. Modifi ed Income (NOL absorbed) (line 3 minus line 4) ..
__________
__________
__________
_________
Itemized Deductions
A. 50% medical insurance premiums (1995 & 1996) and
100% medical insurance premiums (beginning 1997) .... * __________
__________
__________
_________
B. Unadjusted medical expenses ........................................
__________
__________
__________
_________
C. 7.5% of line 3 (5% for 1986) ...........................................
__________
__________
__________
_________
D. Subtract C from B ........................................................... * __________
__________
__________
_________
E. Taxes .............................................................................. * __________
__________
__________
_________
F. Interest ............................................................................ * __________
__________
__________
_________
G. Contributions .................................................................. * __________
__________
__________
_________
H. Unadjusted casualty loss from Form 4684 .....................
__________
__________
__________
_________
I. 10% of line 3 ...................................................................
__________
__________
__________
_________
J. Subtract I from H ............................................................ * __________
__________
__________
_________
K. Unadjusted miscellaneous expenses .............................
__________
__________
__________
_________
L. 2% of line 3 .....................................................................
__________
__________
__________
_________
M. Subtract line L from K ..................................................... * __________
__________
__________
_________
N. Miscellaneous deductions (not subject to 2%) ............... * __________
__________
__________
_________
O. Total: (Add lines marked with an asterisk * A, D, E, F,
G, J, M and N) ................................................................
__________
__________
__________
_________
If carryover of a NOL is more than 4 years, attach an additional worksheet.
Line 1 may have to be adjusted when dealing with more than one NOL within the same year.
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