Schedule NOL: WV Net Operating Loss Carry-forward Calculation (2025)
West Virginia · WV Tax Division · Used for tax years 2025
Schedule NOL is the West Virginia net operating loss carryforward schedule for Form CIT-120 for 2025. It reports original losses, amounts previously carried back or used, amounts being used this year, and remaining unused losses.
Who files this form
Schedule NOL is used to calculate the West Virginia net operating loss carryforward being used for tax year 2025.
For losses incurred in tax years beginning on or after January 1, 2009, only the entity that incurred the loss may claim it. This rule includes each member of a unitary group.
What you'll need
Have the following information ready for each loss:
- Month and year of the loss.
- Name and FEIN of the entity that incurred the loss, or the consolidated parent that reported a qualifying pre-2009 loss.
- Original amount of the West Virginia net operating loss.
- Amount carried back prior to the loss year.
- Amount carried forward and used before 2025.
- Amount remaining from the prior year.
- Amount being used in 2025.
- Remaining unused net operating loss.
Common mistakes
- Leaving the schedule incomplete. The form must be completed in its entirety, or the return may be rejected.
- Entering “See attached.” The form specifically says not to do this.
- Claiming another entity’s loss. Losses incurred in tax years beginning on or after January 1, 2009, may only be claimed by the entity that incurred them.
- Providing the wrong identifying information. For a loss incurred on a consolidated return that the entity was part of before 2009, provide the name and FEIN of the consolidated parent that reported the loss. For losses incurred in tax years 2009 and later, provide the name and FEIN of the entity that incurred the loss, including each unitary group member.
Questions people ask
Where do I enter the total carryforward used in 2025?
Add the amounts in Column 7. Enter the total on Schedule 1, line 5; Schedule 2, line 11; or UB-CR, as directed by the form.
Can one entity claim a loss incurred by another entity?
For losses incurred in tax years beginning on or after January 1, 2009, only the entity that incurred the loss may claim it.
What information is needed for a consolidated-return loss from before 2009?
If the entity was part of the consolidated return on which the loss was incurred, provide the name and FEIN of the consolidated parent that reported the loss.
Can I write “See attached” instead of completing the schedule?
No. The form says not to enter “See attached” and warns that the return may be rejected if the schedule is not completed in its entirety.