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

For tax years ending on and after 12/31/2020, Schedule NLD and Schedule UB/NLD have been discontinued and are no longer required to be attached to your tax return.

If you are claiming a loss on your tax return due to a merger from another FEIN or are claiming losses from a different FEIN, please check the appropriate box on your return. You must attach a statement to your return detailing the FEIN of the company from which you acquired the loss, the reason (e.g., merger) you are allowed to use that company's losses, and the date you acquired the loss. Worksheets to help calculate your Illinois Net Loss Deduction can be found in the appendices of your return instructions.
For tax years ending before 12/31/2020, you must complete and attach Schedule NLD, Net Loss Deduction, to calculate and document the amount of loss you are using in a tax year. 

If you file Form IL-1120 or Form IL-1120-X for tax years ending before 12/31/2020, and you are a member of a unitary business group, the unitary business group must file a combined return and complete and attach Schedule UB/NLD, Unitary Illinois Net Loss Deduction, to calculate and document the amount of loss you are using in the tax year. 

See our Business Income Tax Forms web page for returns and instructions.

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