Current net loss carryforward rules for 1120 Illinois

For tax years ending on or after December 31, 1999 and before December 31, 2003, you can carry a net loss forward to each of the 20 taxable years.
For tax years ending on or after December 31, 2003, you can carry a net loss over to each of the 12 taxable years, per Ill. Admin. Code 86 section 100.2330(b). The net loss that will expire first determines the earliest loss year ending.
Enter losses on the ILNOL screen as negative numbers for Schedule NLD.
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