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Corporate Income Tax Indiana Net Operating Loss Deduction IT-20NOL - Indiana
| Corporate Income Tax Indiana Net Operating Loss Deduction Form. This is a Indiana form and can be used in Corporate Income Department Of Revenue Statewide . |
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IT-20NOL State Form 439 (R11 / 8-12) Schedule CorporateIncomeTax IndianaNetOperatingLossDeduction Use a minus sign to denote negative amounts. Page attachment sequence #9 Federal Identification Number Indiana Department of Revenue Name of Corporation or Organization PART1--ComputationofIndianaNetOperatingLoss (NOL) Complete Schedule IT-20NOL for each loss year. TaxableIncomeorLoss Loss Year Ending: Roundallentries 1 1. Enter federal taxable income or loss, including special deductions but excluding any federal net operating loss deduction (Form IT-20 line 3; IT-20NP line 1); use a minus sign for negative amounts ........................................... IRCSection172(d)ModificationforLossYear 2. Enter an amount, to the extent required under IRC Section 172, which reflects all other federal adjustments for an NOL pursuant to IRC Section 172(d) (See federal Form 1139; attach computation) .......................................... AdjustedGrossIncomeModificationforLossYear 3. Add back: All state income taxes based on or measured by income (includes property taxes before 1999).......... 4. Add back: All charitable contributions (IRC Section 170) ........................................................................................ 5. Add back: Domestic production activities deduction (IRC Section 199) and IT-20 Schedule PIC Part 3(b) amount .... 6. Add back: Deduction for dividends paid to shareholders of a captive real estate investment trust......................... 7. Add or subtract: Net bonus depreciation allowance plus excess IRC Section 179 deduction ................................ 8. Deduct: Interest on U.S. government obligations, less related expenses ................................................................ 9. Deduct: Foreign gross up (IRC Section 78) as determined on federal Form 1118 ................................................... 00 2 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 % 00 3 4 5 6 7 8 9 10. Deduct: All source nonbusiness income or loss and nonunitary partnership distributions (from IT-20 Schedule F, line 10C)............................................................................................................................. 10 11. Deduct: Qualified patents income ............................................................................................................................ 11 12. Add or subtract: Income from the deferral of business indebtedness discharge and reacquisition ......................... 12 13. Add or subtract: Income attributed to bonus depreciation for qualified restaurant property ..................................... 13 14. Add or subtract: Income attributed to bonus depreciation for qualified retail improvement property ....................... 14 15. Add or subtract: Income excluded for qualified disaster assistance property .......................................................... 15 16. Add or subtract: Income attributable to expense costs for qualified refinery property.............................................. 16 17. Add or subtract: Income attributable to expensing qualified film or television production ........................................ 17 18. Add or subtract: Subtotal of all other addbacks. See instructions ............................................................................ 18 19. Total modified income (add/subtract lines 1 through 18) .......................................................................................... 19 IndianaBusinessIncomeorLoss 20. Enter Indiana apportionment percentage of loss year (Form IT-20 line 16d; IT-20NP line 9)................................... 20 (if apportionment of income is not applicable, enter the total amount from line 19 on line 21) 21. Indiana apportioned business income or loss (multiply line 19 by percent on line 20)............................................. 21 PreviouslyAllocatedandApportionedIncomeorLossAttributedtoIndiana 22. Add Indiana nonbusiness income or loss and Indiana nonunitary partnership income or loss (from IT-20 Schedule F line 11D) .............................................................................................................................. 22 23. Indianamodifiedadjustedgrossincomeornetoperatingloss (add lines 21 and 22) ..................................... 23 If line 23 is a negative figure, this is the NOL available to carry forward against modified Indiana adjusted gross income. To claim this deduction, you must apply the same carryover treatment as used for federal income tax purposes. Continue by entering line 23 loss figure in Part 2, column (4) for the taxable period to which the NOL deduction is initially applied. 00 00 Continued on next page *24100000000* 24100000000 American LegalNet, Inc. www.FormsWorkFlow.com IT-20NOLPage2 PART2--ComputationofIndianaNetOperatingLossDeductionandCarryover Make required entries, as specified to compute the amount of Indiana modified adjusted gross income used. Addall entriesacrosscolumns2,3,&4foreachtaxyear;enterresultincolumn5. 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 4 as a positive deduction on your return. Note: Effective Jan. 1, 2012, a taxpayer is not entitled to carry back any net operating losses. (IC 6-3-2-2.6) (1) ListTax PeriodEnding Carried to the following: 1st year 2nd year 3rd year 4th year 5th year 6th year 7th year 8th year 9th year 10th year 11th year 12th year 13th year 14th year 15th year 16th year 17th year 18th year 19th year 20th year ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ TaxableIncome asLastDetermined (ifzeroorless,enter-0-) (2) AddBackotherDeductions fromIndianaAdjustedGross IncomeintheTaxableYear (3) IndianaNetOperating LossDeductionfor theTaxableYear (4) IndianaAdjustedGross IncomeorRemainingUnused NetOperatingLoss (5) - *24100000000* 24100000000 American LegalNet, Inc. www.FormsWorkFlow.com
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