What if I want to use an Illinois Net Loss Deduction but failed to file the loss year return?

What if I want to use an Illinois Net Loss Deduction (NLD) but failed to file the loss year return?

You must file the loss year return in order to carry any Illinois NLD to another tax year.  If carrying the loss to another tax year will result in a refund, you must file the loss year return within 3 years of the extended due date of the loss year's tax return.  Failure to do so will forfeit any refund. 

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