Schedule It-20nol (State Form 439) - Corporate Income Tax Indiana Net Operating Loss Deduction Page 2

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IT-20NOL
Page 2
PART 2 — Computation of Indiana Net Operating Loss Deduction and Carryover
Make required entries, as specifi ed to compute the amount of Indiana modifi ed adjusted gross income used. Add all
entries across columns 2, 3, & 4 for each tax year; enter result in column 5. If result is a loss, also enter loss in
column 4 for the next carryover year.
Carryover: Update this schedule for each tax year. Claim the remaining NOL from column 4 as a positive deduction
on your return.
Note: Effective Jan. 1, 2012, a taxpayer is not entitled to carry back any net operating losses after Dec. 31, 2011.
(IC 6-3-2-2.6)
(1)
(2)
(3)
(4)
(5)
Taxable Income
Add Back other Deductions
Indiana Net Operating
Indiana Adjusted Gross
List Tax
as Last Determined
from Indiana Adjusted Gross
Loss Deduction for
Income or Remaining Unused
Period Ending
(if zero or less, enter -0-)
Income in the Taxable Year
the Taxable Year
Net Operating Loss
Carried to the following:
-
1st year
________
-
2nd year
________
-
3rd year
________
-
4th year
________
-
5th year
________
-
6th year
________
-
7th year
________
-
8th year
________
-
9th year
________
-
10th year
________
-
11th year
________
-
12th year
________
-
13th year
________
-
14th year
________
-
15th year
________
-
16th year
________
-
17th year
________
-
18th year
________
-
19th year
________
-
20th year
________

24100000000

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