80-155: Net Operating Loss Schedule (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Mississippi Form 80-155 is the 2024 Net Operating Loss Schedule. It tracks net operating loss amounts, the years they are applied, amounts used, and balances available for carryforward. It also includes a state election to forgo carryback and carry forward the current year's loss
What you'll need
Have the following information ready to complete the schedule:
- Taxpayer and spouse Social Security numbers.
- The ending date of each net operating loss (NOL) year and the NOL amount.
- The income year the NOL was applied to and the amount used in that year.
- The NOL balance and the amount used in the current year.
The form uses YYYYMMDD format for the NOL year-end and income-year dates.
Common mistakes
Follow the form's directions for positive and negative numbers:
- Enter the NOL amount in column B as a negative number.
- Enter the amount used in the income year in column D as a positive number.
- Enter the balance in column E as a negative number or zero. Calculate it as column B plus column D.
- Enter total NOL available on line 1 as a negative number.
- Enter NOL used in the current year on line 2 as a positive number, and also enter it on Form 80-108, Schedule N, line 1.
Questions people ask
How do I calculate the remaining NOL available for carryforward?
Add line 1, total NOL available, to line 2, NOL used in the current year. Enter the result on line 3.
Where does the total NOL available on line 1 come from?
It comes from the schedule above line 1. Enter it as a negative number.
Where else do I report the NOL used in the current year?
The form directs you to enter that amount on Form 80-108, Schedule N, line 1, as well as on line 2 of this schedule.
Does the form include an election to forgo carryback?
Yes. It includes a state election to forgo carryback and carry forward the current-year NOL.