Net operating losses (NOL) for Indiana part-year/nonresident

You'll need to manually enter a current-year NOL or NOL deductions for part-year residents or nonresidents.

Current-year NOL or NOL deductions from prior year losses won't calculate automatically for part-year residents or nonresidents.

Current-year NOL

Use Schedule IT-40NOL, in the

Non Calculating

folder, to determine the current-year NOL. UltraTax CS doesn't track or carry forward NOL carryforwards for part-year residents or nonresidents.

Use the Indiana net operating loss deduction
fields on the

INAdj

screen to enter the amount of NOL deduction to report on Indiana Schedule C.

Use Schedule IT-40NOL and the NOL Carryforward Worksheet in the non-calculating folder to reconstruct prior year NOLs and intervening year AGI.