Schedule UB/NLD: Unitary Illinois Net Loss Deduction (2025)
Illinois · Illinois DOR · Used for tax years 2025
Illinois Schedule UB/NLD figures the unitary Illinois net loss deduction and taxable income after the deduction. It records each unitary member’s losses by year, unused losses, and combined totals, and attaches to Form IL-1120 or Form IL-1120-X.
Who files this form
Schedule UB/NLD is for unitary members carrying Illinois net losses to a carry year and figuring the unitary Illinois net loss deduction. Attach it to Form IL-1120 or Form IL-1120-X.
The 2025 schedule is for tax years ending on or after December 31, 2025. It covers Illinois net losses arising in tax years ending on or after December 31, 1986.
What you'll need
Have these forms and details available:
- Form IL-1120 or Form IL-1120-X, to which you will attach the schedule.
- Your name as shown on your tax return and your federal employer identification number (FEIN).
- The carry year ending month and year.
- The name and FEIN of each unitary member carrying a loss.
- Each member’s loss amounts, loss years, and the order in which the losses expire.
- Combined net income from Form IL-1120, Step 5, Line 37.
How to file
Attach Schedule UB/NLD to your Form IL-1120 or Form IL-1120-X. The schedule is labeled Illinois Attachment No. 6.
The supplied form does not give a mailing address or instructions for filing electronically.
Common mistakes
- Using the wrong year’s schedule. This schedule is for tax years ending on or after December 31, 2025. For other years, use that year’s schedule or worksheet.
- Exceeding the deduction limit. Line 30 says the Illinois net loss deduction for the tax year may not exceed $500,000.
- Skipping the specific instructions for Step 3. The form says to read them before completing that step. They are not included in the supplied text.
- Leaving required information out. The form warns that failure to provide required information could result in a penalty.
Questions people ask
What does “carry year” mean?
It is the year to which the loss is being carried.
Which loss year do I enter first?
Enter the year of the loss that expires first on Line 3. The later loss-year entries ask for the loss that expires next.
What amount goes on Line 4?
Enter the lesser of $500,000 or the combined net income before the net loss deduction.
How do I figure taxable income after the deduction?
On Line 31, subtract the Illinois net loss deduction on Line 30 from the combined net income on Line 27.