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

For tax years ending before 12/31/2020 and ending on or after 12/31/2022, 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 ending on or after 12/31/2022, 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.

For tax years ending on or after 12/31/2020 and prior to ending on 12/31/2022, Schedule NLD and Schedule UB/NLD were discontinued and were no longer required to be attached to your tax return.

See our Business Income Tax Forms web page for access to your specific return, Schedule NLD/UBNLD, and corresponding instructions.

If you have additional inquiries, you may submit them on the Questions, Comments, or Requests form.