CIT-NOL: Corporate Net Operating Loss Worksheet (2024)
Delaware · Delaware Division of Revenue · Used for tax years 2024
Delaware Form CIT-NOL is a corporate net operating loss worksheet. It records federal taxable income from Form CIT-TAX, net operating loss deductions taken, and total losses carried forward by tax year.
What you'll need
Have Form CIT-TAX available for your federal taxable income. The worksheet also asks for:
- Name and taxpayer ID.
- Tax year.
- Net operating loss (NOL) deduction taken.
- Total net operating losses carried forward.
Common mistakes
Do not take an NOL deduction when taxable income is zero or negative. The worksheet states that the deduction can only be taken when there is positive taxable income.
Questions people ask
Where do I find the taxable income amount for this worksheet?
Use federal taxable income from Form CIT-TAX.
When can I take an NOL deduction?
The worksheet states that an NOL deduction can only be taken when there is positive taxable income.
What does “total carryforward losses” mean?
It means net operating losses that are carried forward. The worksheet states that these losses can accumulate.