Montana Form Nol - Montana Net Operating Loss - 2005 Page 3
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5Form NOL Montana Net Operating Loss for Year 2005
Page 3
NOL Carryover - Schedule B
This application is filed to carry
Enter net operating loss (Schedule I,
This is for the calendar year _________, or other tax
back:
Line 24) $ ____________
year beginning_______,2005, ending _______,20____
_______ preceding tax
_______ preceding tax
Complete one column before going to the next column.
_______ preceding tax
You start with the earliest carryback year.
year ending _______
year ending _______
year ending _______
1.
Enter NOL deduction as a positive number (see
instructions).
2.
Enter Montana taxable income before 2005 NOL
carryback (see instructions). Estates and trusts,
increase this amount by the sum of the charitable
deduction and income distribution deduction.
3.
Enter net capital loss deduction (see
instructions).
4.
Enter section 1202 exclusion as a positive
number.
5.
Enter adjustment to Montana adjusted gross
income (see instructions).
6.
Enter adjustment to Montana itemized
deductions (see instructions).
7.
Individuals, enter deduction for exemptions.
Estates and trusts, enter exemption amount.
8.
Modified taxable income. Add lines 2 through 7.
If the result is zero or less, enter zero.
9.
Subtract line 8 from line 1 and enter result . If
the result is zero or less, enter zero. This is your
NOL carryover (see instructions).
Adjustments to Itemized Deductions
(Individuals Only)
Complete lines 10 through 34 for the carryback
year(s) for which you itemized deductions only if
line 3 or line 4 above is more than zero.
10. Enter Montana adjusted gross income before
2005 NOL carryback.
11. Add lines 3 through 5 above and enter result.
12. Modified adjusted gross income. Add lines 10
and 11 and enter result.
13. Enter medical expenses from Form 2A after
7.5% adjustment (or as previously adjusted).
Do not include medical or long-term care
insurance premium payments.
14. Enter medical expenses from Form 2A before
7.5% adjustment (or as previously adjusted).
Do not include medical or long-term care
insurance premium payments.
15. Multiply line 12 by 7.5% (.075) and enter result.
16. Subtract line 15 from line 14 and enter result. If
the result is zero or less, enter zero.
17. Subtract line 16 from line 13 and enter result.
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