Form It 611 - Corporation Income Tax Forms And General Instructions - 2012 Page 12
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22GEORGIA NOL CARRY FORWARD WORKSHEET EXAMPLE
A
B
C
D
E
F
Loss Year
Loss Amount
Income Year
NOL Utilized
Balance
Remaining NOL
1994
$
225,351
$
(49,052)
$
176,299
12/31/1996
1994
$
(39,252)
$
137,047
12/31/1997
1994
$
110,167
$
(26,880)
12/31/1998
1994
$
50,663
$
50,663
$
(59,504)
12/31/2000
1999
$
86,280
$
86,280
2001
$
116,287
$
116,287
2002
$
18,765
$
18,765
2003
$
52,711
$
52,711
2004
$
35,972
$
35,972
360,678
1. NOL Carry forward Available to Current Year (Enter on Schedule 1, Line 6 or Schedule 7, Line 8)
2. Current Year Income / (Loss)
100,000
3. NOL Carry forward Available to Next Year (Subtract Line 2 from Line 1)
260,678
INSTRUCTIONS
Column A: List the loss year(s).
Column B: List the loss amount for the tax year listed in Column A.
Columns C & D: List the years in which the losses were utilized and the amount utilized each year.
Column E: List the balance of the NOL after each year has been applied.
Column F: List the remaining NOL applicable to each loss year.
Total the remaining NOL (Col. F) and enter in the space at the bottom of the worksheet for “NOL Carry forward
Available to Current Year”. Then insert “Current Year Income / (Loss)” in the space provided and compute the “NOL
Carry forward Available to Next Year” in the last space.
Create photocopies as needed.
Page 11
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