Schedule                                       Indiana Department of Revenue                                            Enclosure 
                                                                                                                       Sequence No. 16
IT-40NOL                                       Individual Income Tax                        2024
State Form 46004 
(R22 / 9-24)                            Net Operating Loss Computation

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
Enter the year to which you Indiana AGI available to be   Indiana NOL available        Enter the amount from          Indiana NOL deduction:  
   are carrying the loss.   offset (from the Carryforward for deduction (from the      either line 7 or line 8 of the Enter the amount from 
                            Worksheet, line 5)            Carryforward Worksheet, line Carryforward Worksheet.        line 9 of the Carryforward 
                                                          6; enter as positive amount)                                 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      Column B      Column C      Column D      Column E
                                                            1st following 2nd following 3rd following 4th following 5th following 
                                                            tax year      tax year      tax year      tax year      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 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