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                         IT NOL – Net Operating Loss 
              Rev. 11/15 Carryback Schedule
                                                                                                                                                                    
Check the box on the front of Ohio IT 1040 indicating that you are amending for a NOL and attach this form to the amended return. 
If you are carrying back a NOL to more than one previous year, you should complete the Ohio IT 1040 for the earliest year fi rst.
Taxpayer name            Social Security number
  1.  Year in which the NOL occurred ....................................................................1.
  2.  Amount of NOL for the year in which the NOL occurred .............................................................................2.
 3.  Filing date of IRS form 1040 for the year in which the NOL occurred .............3.
  4.  IRS refund amount requested on IRS form 1045 or 1040X ..........................4.
  5.  Date the IRS approved the refund request....................................................5.
Have you completed this schedule for an earlier taxable year for the NOL set forth above?
   Yes. Stop, you do not have to complete this schedule, but attach the schedule you did complete.
   No. You must complete the remainder of the NOL schedule.
  6.  Depreciation add-back, if any, from Ohio IT 1040, Schedule A for the year in which the NOL occurred .....6.
 7.  NOL eligible for carryback for Ohio income tax purposes (line 2 minus line 6). If you are eligible for 
  the fi ve-year carryback period, proceed to line 8 ........................................................................................7.
If you are claiming a fi ve-year carryback period for federal income tax purposes, begin with line 8. If you are claiming a four-year 
carryback period for federal income tax purposes, leave line 8 blank, enter -0- on line 9 and complete the remaining lines. If you 
are claiming a three-year carryback period for federal income tax purposes, leave lines 8 and 11 blank, enter -0- on lines 9 and 
12 and complete the remaining lines. If you are claiming a two-year carryback period for federal income tax purposes, leave lines 
8, 11 and 14 blank, enter -0- on lines 9, 12 and 15 and complete the remaining lines.
Lines 8 through 15 are for use only by taxpayers who qualify for the fi ve-year NOL carryback for federal income tax purposes.
  8.  Ending date for fi fth preceding taxable year ..................................................8.
 9.  Modifi ed taxable income from line 9 of Schedule B of IRS form 1045 for fi fth preceding year ...................9.
 10. NOL carryback to fourth preceding taxable year. Line 7 minus line 9. If less than zero, enter -0- ............10.
 11.  Ending date for fourth preceding taxable year ............................................11.
 12.  Modifi ed taxable income from line 9 of Schedule B of IRS form 1045 for fourth preceding year ..............12.
 13. NOL carryback to third preceding taxable year. Line 10 minus line 12. If less than zero, enter -0- ..........13.
 14.  Ending date for third preceding taxable year...............................................14.
 15.  Modifi ed taxable income from line 9 of Schedule B of IRS form 1045 for third preceding year ................15.
 16. NOL carryback to second preceding taxable year. Line 13 minus line 15. If less than zero, enter -0- ......16.
 
 17. Ending date for second preceding taxable year ..........................................17.
 18.  Modifi ed taxable income from line 9 of Schedule B of IRS form 1045 for second preceding year ...........18.
 19. NOL carryback to fi rst preceding taxable year. Line 16 minus line 18. If less than zero, enter -0- ...........19.
 20.  Ending date for fi rst preceding taxable year ................................................20.
 21.  Modifi ed taxable income from line 9 of Schedule B of IRS form 1045 for fi rst preceding year .................21.
 22.  NOL carryover to the immediately following taxable year. Line 19 minus line 21. If less than zero, 
  enter -0- .....................................................................................................................................................22.
Note: If the only change to your federal adjusted gross income (Ohio IT 1040, line 1) is due to the NOL carryback, the difference between 
the line 1 amounts on the original and amended returns will be the lesser of line 7 above, or the federal modifi ed taxable income on IRS 
form 1045 for the earliest taxable year for which you entered information above.

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                                                                                                                                IT NOL
                                                IT NOL Instructions                                                             Rev. 11/15
    Net Operating Losses (NOL)                                             Ohio Legislation Affects Depreciation Deductions for Taxable Years 
Be sure to complete and attach Ohio IT NOL, Net Operating Loss             Ending in 2001 and Thereafter" at tax.ohio.gov.
Carryback Schedule shown on page 1 and check the box on the 
front of the IT 1040 indicating that you are amending for a NOL.           Example 1: In 2008 Maria reported $800,000 in federal adjusted 
                                                                           gross income. Maria’s 2008 federal return as fi led refl ected $350,000 
Your NOL carryback deduction on the Ohio amended income tax                in itemized deductions and personal exemption amounts. Maria’s 
return is limited by the following:                                        2008 federal modifi ed taxable income was $450,000. In 2010 Maria 
                                                                           incurred a federal NOL of $1 million including an I.R.C. section 
 the amount of your federal itemized deductions and personal              168(k) bonus depreciation amount of $300,000. Maria must fi rst 
    exemption amounts allowed in the carryback year; AND                   reduce the federal NOL carryback/carryforward by $250,000 (5/6 of 
  the depreciation adjustment discussed below.                            the $300,000 bonus depreciation). The NOL carryback/carryforward 
                                                                           is $750,000. The deduction on the year 2008 Ohio amended income 
Itemized Deductions and Exemptions: Your federal adjusted 
                                                                           tax return for the NOL carryback from taxable year 2010 is limited 
gross income, after application of the allowed net operating loss car-
                                                                           to $450,000 (the amount of the year 2008 federal modifi ed taxable 
ryback amount, will not be zero dollars if you claimed any itemized 
                                                                           income). Maria can use the remaining $300,000 of the year 2010  
deductions or exemptions on your federal income tax return. For 
                                                                           NOL carryback/carryforward for taxable years 2009 and later.
more information, please see our Aug. 12, 2002 information release 
entitled "Personal Income Tax Information Release: Net Operating           Example 2: In 2013, Maria is a sole proprietor who is an employer.  
Loss Carryback Five-Year Rule" at tax.ohio.gov.                            She reported $800,000 in federal adjusted gross income. Maria’s 
    
Depreciation Adjustment: If the federal NOL carryback/                     2013 federal return as filed reflected $350,000 in itemized 
carryforward refl ects either Internal Revenue Code (I.R.C.) section        deductions and personal exemption amounts. Maria’s 2013 federal 
168(k) bonus depreciation or I.R.C. section 179 expensing, then you        modifi ed taxable income was $450,000. In 2015, Maria incurred a 
must reduce the federal net operating loss carryback/carryforward          federal NOL of $1 million including an I.R.C. section 168(k) bonus 
amount by both of the following:                                           depreciation amount of $300,000. In that same year, Maria increased 
                                                                           her employer income tax withholding by 10% from the previous year.  
  adjustment for the I.R.C. section 168(k) bonus depreciation; AND        Maria must fi rst reduce the federal NOL carryback/carryforward 
  adjustment for the excess of the I.R.C. section 179 amount over         by $200,000 (2/3 of the $300,000 bonus depreciation). The NOL 
    the amount that would have been allowed based upon I.R.C.              carryback/carryforward is $800,000. The deduction on the year 
    section 179 in effect on Dec. 31, 2002                                 2013 Ohio amended income tax return for the NOL carryback from 
                                                                           taxable year 2015 is limited to $450,000 (the amount of the year 
For more information, please see Ohio Revised Code section                 2013 federal modifi ed taxable income). Maria can use the remaining 
5747.01(A)(20) as amended by the 129th General Assembly in                 $350,000 of the year 2015 NOL carryback/carryforward for taxable 
HB 365 and our information release entitled "Recently Enacted              years 2014 and later.

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