State Form 439 - Schedule It-20nol - 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 specified to compute the amount of Indiana modified adjusted gross income used. Add
all entries across columns 2 & 3 for each tax year; enter result in column 4. 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 3 as a positive deduction
on your return.
Note: A taxpayer is not entitled to carry back any net operating losses.
(IC 6-3-2-2.6)
(1)
(2)
(3)
(4)
Indiana Adjusted
Indiana Net Operating
Indiana Adjusted Gross
List Tax
Loss Deduction for
Gross Income
Income or Remaining Unused
Period Ending
the Taxable Year
(if zero or less, enter -0-)
Net Operating Loss
Carried to the following:
-
1st year
________
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2nd year
________
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3rd year
________
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4th year
________
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5th year
________
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6th year
________
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7th year
________
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8th year
________
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9th year
________
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10th year
________
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11th year
________
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12th year
________
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13th year
________
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14th year
________
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15th year
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16th year
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17th year
________
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18th year
________
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19th year
________
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20th year
________
*24100000000*
24100000000

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