Proforma prior-year information to current year: 1040 Indiana (IN)

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Proforma to current year

Calculated values from Form IT-40 resident return and information from the INNOL and INNOL-2 screens in  2020  carry forward to the INNOL-2 screen in 2021. 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 NOL(s).
  • To determine the amount of prior-year Indiana NOL(s) used against prior-year Indiana AGI and the amount available to offset current-year (or future) Indiana AGI.
Notes
  • If the return was not prepared in the prior year, or if the prior-year return was prepared erroneously, manual data entry is necessary. See Applying prior-year NOL to current-year income.
  • Information on Schedule IT-40NOL, the NOL Worksheets, and the Carryover Summary does not carry forward from year to year. Instead, prior year amounts are established via information that carries forward to the INNOL-2 screen, as noted above.
  • If the taxpayer and spouse are taxed separately for county tax purposes, see Taxpayer and spouse amounts.

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