Schedule NOL: Net Operating Loss Carryforward (2025)
Massachusetts · Massachusetts DOR · Used for tax years 2025
Massachusetts Schedule NOL reports net operating loss carryforwards by tax year. It tracks losses available, used, shared with other members, expired, and remaining for future years.
Who files this form
Schedule NOL is for corporations reporting Massachusetts net operating loss (NOL) carryforwards. The 2025 form lists return types 355, 355S, 355U, and M-990T.
The form does not give detailed rules about which taxpayers must complete the schedule. It refers M-990T filers to the instructions, which were not provided.
What you'll need
Have the following information ready to complete the schedule:
- Corporation name, federal identification number, tax year, and return type.
- Date of the most recent ownership change.
- Total income allocated or apportioned to Massachusetts for the year.
- Last year’s tax return figures for remaining NOLs, so you can identify and explain any differences.
- Loss records by tax year end, including Massachusetts post-apportionment NOL available, NOL used, NOL shared with other members, and remaining NOL.
- Any expired NOL amounts.
- Your separately determined Massachusetts IRC § 382 limitation, if applicable.
How to file
File electronically. The form states that paper returns will not be accepted.
For questions about electronic filing, call 617-887-6367. For more information, visit the Massachusetts DOR electronic filing and payment requirements page.
The form also points to TIRs 16-9 and 21-9 for more information.
Common mistakes
- Sending a paper return. The form repeatedly warns that electronic filing is required and paper returns will not be accepted.
Questions people ask
How long can losses be carried forward?
The form states that losses may be carried forward for up to 20 years. List available losses by tax year end, starting with the oldest prior year and then each succeeding prior taxable year.
What if an available NOL differs from the amount remaining on last year’s return?
Fill in the indicator on line 2 and explain the difference. The form refers you to the instructions for more detail.
What if the corporation is subject to an IRC § 382 limitation?
Fill in the indicator on line 3. The corporation must separately determine and apply its Massachusetts IRC § 382 limitation under 830 CMR 63.30.2(9)(b).
How do I calculate the NOL carryover available for future years?
Subtract total NOL used on line 6 and total NOL shared on line 7 from total Massachusetts post-apportionment NOL available on line 5. Enter the result on line 8. Then subtract expired NOL on line 9 from line 8 and enter the remaining carryover on line 10.