What form do I use to document an Illinois Net Loss Deduction?

What form(s) do I use to document an Illinois Net Loss Deduction (NLD)?

You must use Schedule NLD, Net Loss Deduction, to calculate and document the amount of loss you are using in a tax year if you file the following forms.  You must attach schedule NLD to your annual income or replacement tax return.

• Form IL-1120 or IL-1120-X and you are not a member of a unitary business group,
• Form IL-1120-ST or IL-1120-ST-X
• Form IL-1065 or IL-1065-X
• Form IL-1041or IL-1041-X, or
• Form IL-843.

If you file Form IL-1120 or Form IL-1120-X and you are a member of a unitary business group, the unitary business group must file a combined return and use Schedule UB/NLD, Unitary Illinois Net Loss Deduction, to calculate and document the amount of loss you are using in the tax year.  You must attach Schedule UB/NLD to your annual income and replacement tax return. 

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