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Instructions for Completing
Schedule IN-UBI
If your business has multiple unrelated lines of business, list the Line 2. If you are listing non-unitary partnership income derived
income, modifications, and other items from each line of business by a line of business, list the non-unitary partnership income
separately. earned by that line of business. If the non-unitary partnership
income cannot be traced to a particular line of business, include
Name of business. List the name or very brief description of the income as part of a line of business that had a gain or the line
each line of business separately. For instance, in the case of the of business that reported the least amount of losses. If including
description a pay parking lot, list “Parking Lot” or “Parking Lot at amounts from a previous year, multiply the amount by the
123 Main Street.” proration percentage.
If a line of business is reporting a loss from a previous year, list Line 3. If a line of business has a net profit for federal purposes,
the business and include the year to which the items relate as a deducted the portion of the specific deduction attributable to that
parenthetical. line of business, but not in excess of the amount listed on Line 1
reduced by any net operating loss carryforwards allowable and
Example: Parking Lot has a net operating loss for 2018 that it is attributed to that line of business.
unable to use until 2021. Use “Parking Lot (2021)” as the heading
for reporting the 2021 income and modifications and “Parking Lines 5-8. If you are listing modifications to Indiana adjusted
Lot (2018)” as the heading for reporting the 2018 loss and gross income derived by a line of business, list the modifications
modifications. In this case, Parking Lot’s items will appear on the attributable that line of business. If the modifications cannot be
IN-UBI for multiple years. traced to a particular line of business, include the income as part
of a line of business that had a gain or the line of business that
Line 1. If you are listing items for the current taxable year, list the reported the least amount of losses. If including amounts from a
amount of federal taxable income prior to any net operating loss previous year, multiply the amount by the proration percentage.
deduction or specific deduction for each line of business. Include
current-year items even if you have a loss for that line of business Line 10. For the current taxable year, enter the apportionment
for federal purposes. percentage attributable to the current taxable year. If income and
modifications are attributable to a prior taxable year, enter the
If you are listing items for a previous taxable year where you current year’s apportionment percentage.
had a net operating loss that has become deductible for federal
purposes, include only the portion up to the amount of allowable Line 12. If you are listing non-unitary partnership income derived
federal loss for the taxable year. The percentage of loss allowable by a line of business from Indiana sources, list the non-unitary
compared to the overall loss for the year in which the loss was partnership income from Indiana sources earned by that line of
incurred will be the “proration percentage.” business. If the non-unitary partnership income cannot be traced
to a particular line of business, include the income as part of a line
Example: Parking Lot had a federal net operating loss of $5,000 of business that had a gain or the line of business that reported
in 2018. Parking Lot had net federal taxable income of $4,000 the least amount of losses. If including amounts from a previous
for 2021. Under Parking Lot (2018), list -4,000 (the current- year, multiply the amount by the proration percentage.
year amount of net operating loss used to offset 2021 income).
The proration percentage is 80% (4,000 divided by 5,000). If
Parking Lot had net federal taxable income in 2022 of $4,000,
the remaining $1,000 loss is deductible in 2022 and the proration
percentage for 2022 is 20% (1,000/5,000).
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