Schedule Ub/nl-5g Instructions - Illinois Department Of Revenue
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1Schedule UB/NL-5g Instructions
For federal losses arising in tax years ending prior to December 31, 1986.
Part II
General Information
Line 1 —
Column F
— Write the names of all members that
When do I use this schedule?
report a loss in Part I, Line 1, Column C.
You must use this schedule when you elect to carry forward any
Column G
— Write each member’s FEIN.
federal net operating loss (NOL), arising from tax years ending prior
Column H
— Divide each member’s loss by the amount in Part I,
to December 31, 1986, into tax years ending on or after December
Line 3. Carry the result to six decimal places.
31, 1987. These losses are deductible to the extent of your Illinois
Column I
— For each member, multiply the decimal in Column H by
base income in the carryforward year and to the extent not previously
the amount in Part I, Line 2, Column C.
used. Schedule UB/NL-5g must be used to support Part I, Line 5g, of
Form IL-1120, or Part I, Line 5c, of Form IL-1120-X for carry years
Column J
— For each member, multiply the decimal in Column H
ending on or after December 31, 1987.
by the amount in Part I, Line 4.
Note: Use Schedule UB/NLD to report Illinois net losses arising in
Line 2 —
Column H
— Write the total of Column H. The result
tax years ending on or after December 31, 1986.
must equal 1 (100%).
What is the purpose of this schedule?
Column I
— Write the total of Column I. The result must equal Part I,
Line 2, Column C.
The purpose of Schedule UB/NL-5g is to calculate your net
amount of unitary federal NOL available and deductible for Illinois
Column J — Write the total of Column J. The result must equal Part I,
purposes. Your “net” amount is the amount of NOL remaining, after
Line 4.
taking into account any portion(s) of your federal NOL already used
Part III
in a prior year and any amount of excess Illinois addition modifica-
tions reported in computing base income in the loss year.
Write all amounts as positive figures.
Part I is to
Column A
— Write the names of all members that will report a
• report the composition of a pre-December 31, 1986, unitary
federal net operating loss deduction for Illinois purposes on Schedule
federal loss for Illinois purposes;
UB, Part III, Line 5g.
• determine the total loss of group members that incurred federal
Note: A corporation using losses from more than one account
losses during the loss year; and
period ending prior to December 31, 1986, will be listed more than
• determine the excess addition modifications (if any) reported in
once. Separate Parts I and II must be completed and attached for
the loss year.
each loss period.
Part II is to determine the pro rata share of pre-December 31, 1986,
combined loss (Part I, Line 2, Column C) that is attributable to each
Column B
— Write each member’s FEIN.
loss member. The same pro rata computation determines each loss
Column C
— For each member, write the month and year end of
member’s share of combined excess addition modifications (Part I,
the account period during which it sustained the loss that it is using in
Line 4).
this carry year.
Part III is to determine the net amount of available federal net
Column D
— For each member, write the corresponding amount of
operating loss that each member may deduct this year on Schedule
loss from Part II, Column I, or any remaining portion of that amount
UB, Part III, Line 5g. (The combined amount for all members is
which has not been used in another carry year.
reported on Form IL-1120, Part I, Line 5g.)
Note: You must exclude from this figure any amount of loss that
What do I need to complete?
was used on Schedule UB, Part III, Line 5g, to offset Illinois base
income in a prior tax year ending on or after December 31, 1986.
• If you are carrying a unitary loss, complete Parts I, II and III.
• If you are carrying a non-unitary loss to a unitary year, complete
Column E
— For each member, write the corresponding amount of
Part III only.
excess addition modifications from Part II, Column J, or any remain-
ing portion of that amount which has not been added back to another
Specific Instructions
carry year.
Column F
— Subtract Column E from Column D. This is the net
Part I
amount of loss which is available to be used as a federal net
operating loss deduction for Illinois purposes.
Line 1
— Column A
— Write the name of each member of the
unitary group in the loss year, regardless of whether the member
Column G
— Write the amount of net loss available that each
incurred a loss or earned income. The first name should be the
member will use in this carry year as a federal net operating loss
member (or designated agent) that filed the Schedule UB for the loss
deduction for Illinois purposes on Schedule UB, Part III, Line 5g.
year.
If the membership of the unitary group is the same in both the loss
year and in this carry year, multiply the decimal for each member in
Column B
— Write each member’s FEIN.
Part II, Column H, by the base income (Schedule UB, Part III, Line 4,
Column C
— Write each member’s separate federal taxable
Column E, minus the sum of the combined totals reported on Lines
income (loss) or equivalent, for Illinois purposes, from the loss year
5a through 5f) of the unitary group in this carry year. Write the lesser
Schedule UB, Part II, Line 30.
of the result, or Column F.
Column D
— Write each member’s total addition modifications
The total amount of combined loss from Schedule UB/NL-5g, Part III,
reported in computing Illinois base income, from the loss year
Line 2, Column G, which may be deducted as a combined total on
Schedule UB, Part III.
Schedule UB, Part III, Line 5g, Column E, cannot exceed base income.
Additionally, if you have a member that was not a member of a
Column E
— Write, as a positive figure, each member’s total
unitary group in its loss year, its loss may only be applied against its
subtraction modifications deducted in computing Illinois base income,
income in the carry year. The amount of loss that can be applied is
from the loss year Schedule UB, Part III.
limited to that specific member’s base income or the total group’s
Line 2 —
Write the totals for Columns C, D, and E. Column C is
base income, whichever is less.
the group’s combined loss.
Additional limitations may apply if the membership is not the same in
Line 3 —
Write the total loss of all members that report a loss on
both the loss year and this carry year. For more information regarding
Line 1, Column C.
this, refer to Illinois Income Tax Regulations, Sections 100.2200 through
Line 4 —
100.2250.
Subtract Line 2, Column E from Line 2, Column D.
If the result is negative, write zero. If the result is positive, write the
Column H
— Subtract Column G from Column F. This is the
lesser of the result, or Line 2, Column C, treated as a positive
remaining net amount of loss that this member may carry forward to
number.
a subsequent year.
Schedule UB/NL-5g (R-12/94)
Page 3 of 3
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