Schedule It-40nol (State Form 46004) - Individual Income Tax Net Operating Loss Computation - 2010

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Schedule
Indiana Department of Revenue
Enclosure Sequence
Individual Income Tax
IT-40NOL
No. 16
State Form 46004
Net Operating Loss Computation
(R8 / 9-10)
Your Name
Your Social Security Number
Part 1 - Election of Intent to Carry Net Operating Loss (NOL)
□
□
• Has a federal election to forgo the carryback period been made for the tax year entered in Part II?
Yes
No
□
Election to Waive Carryback
• If an Indiana NOL is computed and there is no attending federal NOL, check this
of the Indiana Net Operating
box to relinquish the two, three or fi ve year NOL carryback provision for Indiana
Loss Deduction
income tax purposes (see instructions).
Part 2 - Computation of Indiana Net Operating Loss
Loss Year __________
1. Enter as a negative amount your federal net operating loss as calculated on the last line of the federal
Form 1045, Schedule A (see instructions). Note: If the amount on the last line of Form 1045, Schedule
A is positive or zero, or if you are a full-year or part-year nonresident, see instructions .........................
1
Enter the following modifi cations from your loss year IT-40 (IT-40PNR fi lers see instructions):
2. The amount equal to any deduction for taxes based on or measured by
income and levied at any state level .......................................................
2 __________________
3. Income taxed on federal Form 4972 .......................................................
3 __________________
4. Add-backs (see instructions) ...................................................................
4 __________________
5. Add lines 2, 3, and 4 and enter total here ................................................................................................
5
6. Add lines 1 and 5 and enter total here .....................................................................................................
6
Enter the following modifi cations from your loss year IT-40 or IT-40PNR:
7. Non-Indiana locality earnings deduction .................................................
7 __________________
8. State tax refund and/or recovered itemized deductions .........................
8 __________________
9. Interest from U.S. government obligations ..............................................
9 __________________
10. Social Security and/or railroad retirement benefi ts ................................. 10 __________________
11. Qualifi ed patent income exemption ......................................................... 11 __________________
12. Other deductions (see instructions) ........................................................ 12 __________________
13. Add lines 7 through 12 and enter total here .............................................................................................
13
14. Indiana Net Operating Loss available to be carried back/forward: subtract line 13 from line 6 and
enter total here (if the amount is zero or greater, you do not have an Indiana NOL.) Carry this
amount to the IT-40NOL Carryover Worksheet, line 19, in the appropriate column ................................
14
Part 3 - Record of Indiana NOL Application
(1)
(2)
(3)
(4)
(5)
Indiana AGI available to be
Indiana NOL available for
Enter the amount from either
Indiana NOL deduction: Enter
offset: from the Carryback/
deduction: from the Carryback/
line 20 or line 21 of the Carry-
the amount from line 22 of the
Carryforward Worksheet 1 or
Carryforward Worksheet 1 or
back/Carryforward Worksheet
Carryback/Carryforward
2, line 18
2, line 19 (enter as positive
1 or 2 (whichever line has an
Worksheet 1 or 2
Carried to the preceding:
amount)
entry)
5th Year: _________
4th Year: _________
3rd Year: _________
2th Year: _________
1th Year: _________
Carried to the following:
1st Year: _________
2nd Year: _________
3rd Year: _________
*4th Year: _________
*See additional Carryback and carryforward years
in the instructions. Attach additional sheets if necessary.

17710111694

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