Enlarge image | Use your mouse or Tab key to move through the fields. Use your mouse or space bar to enable check boxes. Illinois Department of Revenue *33212231W* Carry year ending 2023 Schedule NLD Illinois Net Loss Deduction Month Year For Illinois net losses arising in tax years ending on or after December 31, 1986. Attach to your Form IL-1120, IL-1120-ST, IL-1041, IL-1065, or corresponding amended return. IL Attachment No. 6 Enter your name as shown on your return. Enter your federal employer identification number (FEIN). Step 1: Figure your Illinois net loss deduction (NLD) Read the instructions before completing this schedule. • “Carry year” is the year to which the loss is being carried. • Enter all amounts as positive figures. Loss year A B C that expires Loss year Loss year first ending ending Month Year Month Year Month Year 1 Enter your reported Illinois net loss. See instructions. 2a Enter the carry year and 2a the amount of Illinois net Month Year Loss carried Month Year Loss carried Month Year Loss carried loss previously carried 2b back or forward. Month Year Loss carried Month Year Loss carried Month Year Loss carried See instructions. 2c Month Year Loss carried Month Year Loss carried Month Year Loss carried 2d Add Lines 2a through 2c. This is your total amount of loss previously carried. 2d 3 Subtract Line 2d from Line 1. This is your remaining Illinois net loss. 4 Enter the Illinois base income for this carry year. See instructions. Enter Line 8 from previous column Enter Line 8 from previous column 5 Column A: See instructions. Columns B and C: See instructions. Enter Line 9 from previous column Enter Line 9 from previous column 6 Write the lesser of Line 4 or Line 5. This is your maximum NLD allowed. 7 Write the lesser of Line 3 or Line 6. This is your NLD. 8 Subtract Line 7 from Line 4. Enter the total of Line 7, Columns A, B, This is your remaining and C in this box. income after NLD. 9 Subtract Line 7 from Line 6. This is your remaining NLD allowed this carry year. 10 Subtract Line 7 from Line 3. This is your remaining NLD for subsequent years. This form is authorized as outlined by the Illinois Income Tax Act. Disclosure of this Schedule NLD Front (R-12/23) information is REQUIRED. Failure to provide information could result in a penalty. |
Enlarge image | *33212232W* Step 2: Identify the loss year company Complete this part only if the loss shown on Step 1, Line 1, originated from a company other than the one filing this return. Enter the FEIN of the company, the reason (e.g., merger) you are allowed to use that company’s losses, and the date you acquired the loss. A B C 11 FEIN:___ ___ - ___ ___ ___ ___ ___ ___ ___ 12 FEIN:___ ___ - ___ ___ ___ ___ ___ ___ ___ 13 FEIN:___ ___ - ___ ___ ___ ___ ___ ___ ___ Reason: __________________________ Reason: __________________________ Reason: __________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ Enter the date you Enter the date you Enter the date you acquired this loss: acquired this loss: acquired this loss: Month Day Year Month Day Year Month Day Year Discharge of Indebtedness Worksheet 1 Enter the amount of the reduction to your federal net operating losses that was carried over to the tax year of the discharge (See federal Form 982). 1 _________________ 2 Multiply the amount on Line 1 by your income allocation ratio. 2 _________________ 3 Enter the total amount of Illinois net loss carryovers from all loss years available to be carried to the taxable year of the discharge. 3 _________________ 4 Enter the lesser of Line 2 or Line 3. This is the amount of your loss carryover reduction. 4 _________________ Reset Print Schedule NLD Back (R-12/23) Printed by the authority of the state of Illinois - electronic only - one copy. |