GA – Schedule 4 – Net Operating Loss (NOL)

Article: 50621

General Information 

The GA – Schedule 4 NOL screen is used to report Georgia-specific net operating losses (NOLs), including those related to business, farm, and insurance losses. The screen also handles Georgia-based adjustments, nonbusiness income and deductions, and the tracking of NOL carrybacks and carryforwards. 
 
The full form is made up of three parts, which can be completed individually based on the type of loss and treatment needed. 
 

Part I – NOL Calculation 

This section is used to enter high-level information about the loss and compute the total NOL.

Part II – NOL Worksheet 

This section includes detailed Georgia adjustments for nonbusiness income and deductions. These adjustments help calculate the actual portion of the loss applicable under Georgia law. All fields in Part II are override fields. 

Part III – Carryback 

Used to calculate the effect of carrying back a loss to previous tax years. Enter details for each affected year. 
 

How to Add 

1. Click on the State Taxes section on the left-hand side of the screen. 
2. Click the link I’d like to see the forms I’ve filled out or search for a form.
3. Click on the dropdown menu for Georgia. 
4. Select the NOL tab. 
   • To enter NOL calculations and adjustments: 
     • Click on GA – Schedule 4 NOL to open the screen. 
     • Enter the applicable details. 
   • To enter NOL carryback information: 
     • Click on GA – Schedule 4 NOL – Part 3 to open the screen. 
     • Enter the applicable details. 
5. Click Save. 

Further Information 

For more on Georgia’s treatment of net operating losses and related guidance, visit: 
Georgia Department of Revenue – Taxes for Individuals: 
https://dor.georgia.gov/taxes/taxes-individuals