Instructions For Shedule It-40nol And Nol - Carryback/carryforward Shedule Template (Page 4 of 5) in pdf

(R / 12-09)

Schedule IT-40NOL Carryback Worksheet 1: Enter Loss Year

Complete one column before going to the next

Column A

Column B

Column C

Column D

Column E

column. Start with the earliest carryback year.

5th preceding

4th preceding

3rd preceding

2nd preceding

1st preceding

See instructions.

tax year______

Note: If you have previously carried a loss to

this year, skip lines 1 through 17. Enter on line

18 the modiﬁ ed Indiana agi from the previous

year’s worksheet.

From the carryback year’s IT-40/IT-40PNR:

1. IT-40 line 1 amount, or IT-40PNR line 1

amount (if reporting from IT-40PNR, skip

lines 2 through 5 and enter same amount

on line 6) .................................................

2. The deduction for taxes based on or mea-

sured by income and levied at any state

level ..........................................................

3. Any net operating loss carryforward

included in federal agi (enter as a positive

amount) ....................................................

4. Income taxed on Form 4972 (lump sum

distribution) ...............................................

5. Bonus depreciation/Sec 179 domestic

production activities add-back, other ........

6. Subtotal: Add amounts from lines 1 - 5

►

and enter total here ..................................

7. Interest on U.S. government obligations .

8. Homeowner’s residential property tax de-

duction ......................................................

9. Recovery of itemized deductions

(including state tax refund) .......................

10. Taxable Social Security and/or beneﬁ ts

issued by the U.S. Railroad Retirement

Board ........................................................

11. Non-Indiana locality earnings deduction ..

12. The human services deduction ................

13. The Indiana partnership long term care

policy premiums deduction .......................

14. Qualiﬁ ed patent income exemption ..........

15. National Guard and reserve component

member’s deduction .................................

16. Total exemptions claimed (after proration,

if applicable) .............................................

17. Subtotal: Add amounts from lines 7 - 16

►

and enter total here ..................................

18. Intervening year’s Indiana agi: Subtract

line 17 from line 6 (if less than zero, enter

►

zero) .........................................................

19. NOL available for deduction. Enter as a

►

positive number ......................................

Complete line 20 OR line 21

20. If line 18 is greater than or equal to line

19, enter difference here. This is the inter-

►

vening year’s modiﬁ ed Indiana agi ...........

21. If line 19 is greater than line 18, enter

difference here and on line 19 in the next

column. This is the remaining NOL available

►

to be carried to other years ......................

22. Enter the smaller of the amount from line 18

or line 19. This is your Indiana nol deduc-

tion ..............................................................

Instructions For Shedule It-40nol And Nol - Carryback/carryforward Shedule Template Page 4

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