Form Nol-Pre-99 - Net Operating Loss (Nol) Worksheet
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MONTANA
NOL-Pre-99
Net Operating Loss (NOL) Worksheet
Rev 04 14
For 1998 and prior years
Loss Year
Y Y Y Y
Note: For NOLs generated in tax year 1999 and forward, use Form NOL
Attach NOL worksheets to all tax returns affected by NOL
Social Security Number
First Name and Initial
Last Name
-
-
Calculation of NOL Absorbed in Carryover years
Year ______
Year ______
Year ______
Year ______
1. Federal adjusted gross income as last determined
(w/o NOL) ....................................................................... __________
__________
__________
__________
2. Add: Adjustments
(a) Capital gain deduction (federal) ........................... __________
__________
__________
__________
(b) Non-Montana interest ........................................... __________
__________
__________
__________
(c) Federal refund ...................................................... __________
__________
__________
__________
(d) Capital loss deduction (enter as positive number) __________
__________
__________
__________
3. Federal adjusted gross income as adjusted
(add lines 1, 2a, 2b, 2c and 2d) ...................................... __________
__________
__________
__________
4. Less: Itemized deductions (complete lines A through O)
or standard deduction ..................................................... __________
__________
__________
__________
5. Modified Income (NOL absorbed) (line 3 minus line 4) .. __________
__________
__________
__________
Itemized Deductions
A. 100% medical insurance premiums (beginning 1997) .... * __________
__________
__________
__________
B. Unadjusted medical expenses ........................................ __________
__________
__________
__________
C. 10% of line 3 (7.5% for individuals age 65 and older;
7.5% for years prior to 2013) .......................................... __________
__________
__________
__________
D. Subtract C from B ........................................................... * __________
__________
__________
__________
E. Taxes .............................................................................. * __________
__________
__________
__________
F. Interest ............................................................................ * __________
__________
__________
__________
G. Contributions .................................................................. * __________
__________
__________
__________
H. Unadjusted casualty loss from federal Form 4684 ......... __________
__________
__________
__________
I. 10% of line 3 ................................................................... __________
__________
__________
__________
J. Subtract I from H ............................................................ * __________
__________
__________
__________
K. Unadjusted miscellaneous expenses ............................. __________
__________
__________
__________
L. 2% of line 3 ..................................................................... __________
__________
__________
__________
M. Subtract line L from K ..................................................... * __________
__________
__________
__________
N. Miscellaneous deductions (not subject to 2%) ............... * __________
__________
__________
__________
O. Total: Add lines marked with an asterisk * (A, D, E, F,
G, J, M and N) ................................................................ __________
__________
__________
__________
If carryover of a NOL is more than 4 years, attach an additional worksheet.
Line 1 may have to be adjusted if there is more than one NOL within the same year.
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