84-155: Net Operating Loss Schedule (2024)
Mississippi · Mississippi DOR · Used for tax years 2024
Mississippi Form 84-155 is a net operating loss (NOL) schedule that tracks available losses, amounts used in the current year, and balances remaining for carryforward. It also includes a state election to forgo carryback and carry forward the current-year NOL.
What you'll need
The form asks for the following information:
- Federal employer identification number (FEIN).
- NOL year-end dates, in MMDDYYYY format.
- NOL amounts.
- Income-year dates for the years in which the NOLs were applied, in MMDDYYYY format.
- Amounts used in each income year and the remaining NOL balances.
Do not include the current-year NOL in columns A through E.
Common mistakes
- Entering losses as negative numbers. The form requires NOLs to be entered as positive numbers. Amounts used in an income year must also be positive.
- Including the current-year NOL in the schedule columns. Do not enter the current-year NOL in columns A through E.
Questions people ask
How do I calculate the NOL balance in column E?
Subtract the amount used in the income year in column D from the NOL amount in column B: B − D = E.
Where do I report the NOL used in the current year?
Enter it as a positive number on Part I, line 2. Also enter it on Form 84-122, line 31 for a composite return or line 34 for an electing pass-through entity.
How do I calculate the remaining NOL available for carryforward?
On Part I, line 1, enter the total NOL available from the schedule. Subtract the NOL used in the current year on line 2. Enter the result on line 3.
Does the form include an election to forgo carryback?
Yes. The form includes a state election to forgo carryback and carry forward the current-year NOL.