Montana Form Nol Instructions - Montana Net Operating Loss (Nol) And Federal Nol - 2015 Page 5
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5Name ____________________________________________________ SSN _________________________
Itemized Deductions Limitation Worksheet
Enter applicable carryback year (Example: 2008)
1. Add the amounts from Form NOL, Schedule
B, lines 17, 20, 26, 31 and 36 and the
corresponding amounts from Form 2,
Schedule III:
• medical and long term care insurance
premiums
• federal, state, sales, income, real estate,
motor vehicle and other taxes
• home mortgage and investment interest.
• Child and Dependent Care Expense, Form
2441-M
• other miscellaneous deductions.
• gambling losses
2. Add the amounts from Form NOL, Schedule
B, lines 17 and 31 and the corresponding
amounts from Form 2, Schedule III:
• medical and long term care insurance
premiums
• federal income taxes
• investment interest
• Child and Dependent Care Expense, Form
2441-M
• gambling losses
3. Subtract line 2 from line 1. If zero or less, stop
here; combine the amounts from Form NOL,
Schedule B, lines 18, 21, 27, 32 and 37, and
enter the result on line 38 and on line 7 of
Form NOL, Schedule B.
4. Multiply line 3 by 80% (0.80).
5. Enter the amount from Form NOL, Schedule
B, line 22.
6. Enter the applicable amount:
• $145,950 for 2005 ($72,975 if married filing
separately)
• $150,500 for 2006 ($75,250 if married filing
separately)
• $156,400 for 2007 ($78,200 if married filing
separately)
• $159,950 for 2008 ($79,950 if married filing
separately)
• $166,800 for 2009 ($83,400 if married filing
separately)
• $300,000 for 2013 ($150,000 if married
filing separately)
• $305,050 for 2014 ($152,525 if married
filing separately)
7. Subtract line 6 from line 5.
8. Multiply line 7 by 3% (0.03).
9. Enter the smaller of line 4 or line 8.
10. Enter the amount for your carryback year as
follows:
• For 2008, divide line 9 by 1.5.
• For 2009, 2006 and 2007, divide line 9 by 3.0.
• For all other carryback years, enter -0-.
11. Subtract line 10 from line 9.
12. Total itemized deductions from Form 2,
Schedule III.
13. Subtract line 11 from line 1.
14. Subtract line 13 from line 12. Enter the
difference here and on line 7 of Form NOL
Schedule B.
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