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

Show expandable text

New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Proforma to current year

Calculated values from Form IT-40 resident return and information from the INNOL and INNOL-2 screens in  2021  carry 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 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.

Was this article helpful?

Thank you for the feedback!