Indiana Net Operating Loss Computation for Individuals

Net Operating Loss Computation for Individuals
Form IT-40NOL
Indiana Department of Revenue

Schedule

IT-40NOL

Individual Income Tax
Net Operating Loss Computation

State Form 46004
(R21 / 9-23)

2023

Enclosure Sequence
No. 16

Your Name										Your Social Security Number

IMPORTANT: Indiana net operating loss deductions claimed after Dec. 31, 2011 must be carried forward.
Part 1 – Computation of Indiana Net Operating Loss__________________________________________ Loss Year
1.	 Enter your federal AGI from Line 1, Form IT-40 or Indiana AGI from Line 1, Form IT-40PNR ________ 	1
2.	 Enter certain add-backs and deductions (see instructions)___________________________________ 	2
3.	 Enter modifications required for federal NOLs under IRC section 172, IRC section 512,
or any other IRC section (see instructions)________________________________________________ 	3
4.	 Add lines 1, 2 and 3. If the amount is greater than zero, enter zero_____________________________ 	4
5.	 Enter (as a negative number) certain federal net operating losses (see instructions)_______________ 	

5			

6.	 Enter certain add-backs or deductions from the loss year IT-40 or IT-40PNR (see instructions) ______ 	6
7.	 Add lines 5 and 6. If the amount is greater than zero, enter zero ______________________________ 	

7

8.	 Add lines 4 and 7. This is your Indiana NOL available to carryforward_______________ Indiana NOL	

8	

Part 2 - Record of Indiana NOL Application

(1)

(2)

Enter the year to which you
are carrying the loss.

Indiana AGI available to be
offset (from the Carryforward
Worksheet, line 5)

(3)
Indiana NOL available for
deduction (from the Carryforward Worksheet, line 6; enter
as positive amount)

(4)

(5)

Enter the amount from
either line 7 or line 8 of the
Carryforward Worksheet.

Indiana NOL deduction: Enter
the amount from line 9 of the
Carryforward Worksheet

1st Year:
2nd Year:
3rd Year:
4th Year:
5th Year:
6th Year:
7th Year:
8th Year:
Attach additional sheets if necessary.

*24100000000*
24100000000

Schedule IT-40NOL Carryforward Worksheet: Enter Loss Year
Complete one column before going to the next
column. See instructions.

Column A

Column B

Column C

Column D

Column E

1st following
tax year______

2nd following
tax year______

3rd following
tax year______

4th following
tax year______

5th following
tax year______

Note: If you have previously carried a loss to this
year, skip lines 1 through 4. Enter on line 5 the
modified Indiana AGI from the previous year’s
worksheet.
From the intervening year’s IT-40/IT-40PNR:
1.	Enter the amount from IT-40/IT-40PNR
line 1 (if reporting from IT-40PNR for tax
year 2008 or before, skip line 2 and enter
the same amount on line 3)......................
2.	Enter some or all of the Indiana add-backs
from the intervening year’s return (see
instructions)...............................................
3.	Subtotal: Add lines 1 and 2 and enter total
here...........................................................
4.	Enter some or all of the Indiana deductions from the intervening year’s return (see
instructions)...............................................
5.	Intervening year’s Indiana AGI: Subtract
line 4 from line 3 (if less than zero, enter
zero)..........................................................
6.	NOL available for carryforward. Enter as a
positive number....................................... ►
Complete line 7 OR line 8
7.	If line 5 is greater than or equal to line 6,
enter the difference here..........................
8.	If line 6 is greater than line 5, enter the
difference here and on line 6 in the next column. This is the remaining NOL available to
be carried forward.....................................
9.	Enter the smaller of the amount from line 5
or 6. This is your Indiana NOL deduction..

*24100000000*
24100000000