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For tax years ending on or after December 31, 1999 and before December 31, 2003, a net loss may be carried forward to each of the 20 taxable years. For tax years ending on or after December 31, 2003, net loss is allowed as a carryover to each of the 12 taxable years per Ill. Admin. Code 86 section 100.2330(b). Earliest loss year ending is determined by the net loss that will expire first. In the 2017 application, tax years will expire in the following order: 1998, 2006, 1999, 2007, 2000, 2008, 2001, 2009, 2002, 2011, 2012, 2013, 2014, 2015, 2016, and 2017. Tax years 1997, 2003, 2004 and 2005 net loss expired and are no longer available.

Related topic: 1120 Illinois frequently asked questions

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