83-155: Net Operating Loss & Capital Loss Schedule (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Mississippi Form 83-155 is a schedule for tracking net operating losses and capital losses. It reports available losses, amounts used in the current income year, and balances remaining for carryforward, and includes a state election to forgo carryback of the current-year net oper
What you'll need
The 2024 schedule asks for your FEIN and the following information for net operating losses (NOLs) and capital losses:
- Loss year-end dates in MMDDYYYY format.
- Loss amounts.
- Income year-end dates for the years when losses were applied, in MMDDYYYY format.
- Amounts used in those income years.
- Remaining balances, calculated as column B minus column D.
Do not include the current-year NOL or capital loss in columns A through E.
Common mistakes
- Do not enter NOLs or capital losses as negative numbers. The form requires positive numbers, including amounts used in an income year.
- Do not enter the current-year NOL or capital loss in columns A through E.
Questions people ask
What does Form 83-155 track?
The 2024 form has separate parts for net operating losses and capital losses. Each part tracks loss amounts, amounts used, and balances available for carryforward.
Where do I report the NOL used in the current year?
Enter it as a positive number on Part I, line 2, and on Form 83-122, line 28, or Form 83-391, page 2, line 16.
Where do I report the capital loss used in the current year?
Enter it as a positive number on Part II, line 2, and on Form 83-122, line 25.
How do I calculate the remaining loss available for carryforward?
In each part, subtract line 2, the loss used in the current year, from line 1, the total loss available. Enter the result on line 3.
Does the form include a carryback election?
Yes. It includes a state election to forgo carryback and carry forward the current-year NOL.