Schedule                                              Indiana Department of Revenue
                                                                                                                           Enclosure Sequence 
IT-40NOL
State Form 46004                                         Individual Income Tax                                                  No. 16
   (R21 / 9-23)                       Net Operating Loss Computation                         2023

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)                 (3)                            (4)                                (5)
                                                          Indiana NOL available for 
Enter the year to which you Indiana AGI available to be   deduction (from the Carryfor- Enter the amount from           Indiana NOL deduction:  Enter 
   are carrying the loss.   offset (from the Carryforward ward Worksheet, line 6; enter either line 7 or line 8 of the  the amount from line 9 of the 
                                      Worksheet, line 5)  as positive amount)           Carryforward Worksheet.           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

                                                                    Column A       Column B       Column C       Column D       Column E
Complete one column before going to the next 
column.  See instructions.                                          1st following  2nd following  3rd following  4th following  5th following
                                                                    tax year______ tax year______ tax year______ tax year______ 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 deduc-
   tions 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 col-
   umn. 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