Indiana Net Operating Loss Computation for Individuals

Net Operating Loss Computation for Individuals
Schedule IT-40 NOL
Schedule
IT-40NOL

Indiana Department of Revenue

2024

Individual Income Tax
Net Operating Loss Computation

State Form 46004
(R22 / 9-24)

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
Enter the year to which you
are carrying the loss.

2

3

Indiana AGI available to be
Indiana NOL available
offset (from the Carryforward
for deduction (from the
Worksheet, line 5)
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.
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:

Column A
1st following
tax year

Column B
2nd following
tax year

Column C
3rd following
tax year

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 addbacks 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

Column D
4th following
tax year

Column E
5th following
tax year