Proforma prior-year NOL information to current year

Calculated values from Form IT-40 resident return and information from the
INNOL
and
INNOL-2
screens in 2021 transfer forward to the
INNOL-2
screen in 2022. This information is used as follows:
  • To determine Indiana AGI (as defined by Indiana tax law) in prior years.
  • To determine if the taxpayer had any prior-year NOLs.
  • To determine prior-year Indiana NOLs used against prior-year Indiana AGI and the amount available to offset current-year (or future) Indiana AGI.
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