1040-IN: NOL deduction - Taxpayer and spouse amounts

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Resident

If taxpayer and spouse are taxed in different counties, use the Indiana net operating loss deduction fields on Screen INAdj (Income and Adjustments folder) to enter the taxpayer portion of the calculated NOL deduction. The balance of the calculated NOL deduction is delegated to the spouse. Amounts are used on the Taxable Income Worksheet for calculating county income on a taxpayer / spouse basis to use on Schedule CT-40.

Part-year/Nonresident

Use the Indiana net operating loss deduction fields on Screen INAdj to enter the taxpayer and spouse amounts of the NOL deduction applicable to Schedule C and to county taxable income for Schedule CT-40PNR.

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