City of Oakwood
Individual Net Operating Loss Worksheet
(Attach to your Individual Income Tax Return)
In accordance with Ohio Revised Code Section 718.01(D)(3), a net operating loss incurred, beginning in tax year 2017, may be carried forward to not more than five (5) consecutive taxable years and may reduce net profit income to zero.
| COLUMN 1 | COLUMN 2 | COLUMN 3 | COLUMN 4 | COLUMN 5 | COLUMN 6 | |
|---|---|---|---|---|---|---|
| Prior Years | Current Year | |||||
| Prior Taxable Year |
NOL | NOL Utilized |
Carryforward | NOL Utilized |
Carryforward To 2025 |
Expires |
| 2019 | 2024 | |||||
| 2020 | 2025 | |||||
| 2021 | 2026 | |||||
| 2022 | 2027 | |||||
| 2023 | 2028 | |||||
| 2024 | 2029 | |||||
| TOTAL | ||||||
Column 1
For each prior tax year in which you incurred a Net Operating Loss (NOL), enter the dollar amount of the loss incurred.
Column 2
Enter the portion of the NOL from column 1 that was utilized in a prior tax year.
Column 3
Enter column 1 minus column 2.
Column 4
Enter the portion of the NOL that was utilized in the current tax year.
Column 5
Enter column 3 minus column 4.