Form Nol-99 - Montana Net Operating Loss Worksheet

Form Nol-99 - Montana Net Operating Loss Worksheet - 2002 Page 2

Page 2 of 3

Calculation of Loss Absorbed in Carryover Years

Year_____

1. Federal adjusted gross income

as last determined (W/O loss)

2. Add: Adjustments

(a) Capital Gain Deduction (federal)

(b) Non-Montana interest

(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. Modified Income (NOL absorbed)

(line 3 minus line 4)

Itemized Deductions

50% medical insurance premiums (1995 & 1996).

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 * A, D, E, F,

G, J, M and N)

NOTE: 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.

Form Nol-99 - Montana Net Operating Loss Worksheet - 2002 Page 2