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

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, Corporation Income and Replacement Tax Return, and you are not a member of a unitary business group;
  • Form IL-1120-X, Amended Corporation Income and Replacement Tax Return, and you are not a member of a unitary business group;
  • Form IL-1120-ST, Small Business Corporation Replacement Tax Return;
  • Form IL-1120-ST-X, Amended Small Business Corporation Replacement Tax Return;
  • Form IL-1065, Partnership Replacement Tax Return;
  • Form IL-1065-X, Amended Partnership Replacement Tax Return;
  • Form IL-1041, Fiduciary Income and Replacement Tax Return;
  • Form IL-1041-X, Amended Fiduciary Income and Replacement Tax Return; or
  • Form IL-843, Amended Return or Notice of Change in Income.

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.

If you have additional inquiries, you may submit them to the Questions, Comments, or Request form.