FormX-NOL: FormX-NOL (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Form X-NOL calculates the decrease in tax from carrying back a Wisconsin net operating loss. It compares income, deductions, credits, and tax before and after the carryback to determine the refund amount.
Who files this form
The 2024 Wisconsin Form X-NOL is used to calculate a decrease in tax from carrying back a Wisconsin net operating loss (NOL). It includes fields for individuals and estates or trusts.
The form does not state who is required to file or the eligibility rules for a carryback.
What you'll need
Have the information needed to complete these fields:
- Your legal name, address, and Social Security number. If married, the form also asks for your spouse’s legal name and Social Security number.
- For an estate or trust, its legal name and federal EIN.
- Before-carryback and after-carryback amounts for the NOL deduction, Wisconsin income, standard deduction, exemptions, tax, and nonrefundable credits.
- Any different Social Security number used for the carryback year.
- For an amended return, the amount previously refunded.
The supplied form text does not identify specific documents to attach.
Common mistakes
- Do not enter a negative amount on line 9. The form says to enter zero if line 7 minus line 8 is less than zero.
- Lines 12 through 15 are marked AMENDED RETURN ONLY. If filing an amended return, check the amended-return box.
- The signature area calls for your spouse’s signature if this is a joint return.
- If filing for an estate or trust, check the estate-or-trust box.
Questions people ask
What do Columns A and B show?
Column A shows amounts before the carryback. Column B shows amounts after the carryback.
How does the form calculate the decrease in tax?
Copy line 9 of Column B to line 10 of Column A. Then subtract line 10 from line 9 in Column A. Line 11 identifies this decrease in tax as your refund amount. Amended returns have additional calculations on lines 12 through 15.
What if my filing status changed between the years involved?
If you filed a joint return or a separate return for one, but not both, of the tax years involved in figuring the carryback, list the years and mark each as joint (J) or separate (S).
Can I let someone else discuss this return with the Wisconsin Department of Revenue?
Yes. Complete the Third Party Designee area with that person’s name, phone number, and personal identification number (PIN).