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

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 the following forms. 

  • 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 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. 

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