Article: 50575
KY KNOL – Net Operating Loss Schedule
The KNOL – Net Operating Loss Schedule screen is used to calculate Kentucky-specific net operating loss (NOL) amounts, based on income, deductions, gains, and losses.
This screen allows separate entries for each spouse if Filing Status 2 (married filing separately on a combined return) is selected. All fields default to federal carryover values, but green override fields can be used to enter Kentucky-specific values.
The following categories are supported on this screen:
- Kentucky adjusted gross income
- Deductions
- Nonbusiness capital losses and gains
- Nonbusiness deductions and income
- Business capital losses and gains
- Other losses from Schedule D (Line 17)
- Section 1202 exclusion
- Other loss from Schedule D (Line 18)
Override (green) fields should be used only if the Kentucky value differs from the federal.
How to Add This Screen
- Click on the State Taxes section on the left-hand side of the screen.
- Click the link I’d like to see the forms I’ve filled out or search for a form.
- Use the dropdown to select Kentucky.
- Under the Other tab, click KNOL – Net Operating Loss Schedule
Further Information
For more details, visit the Kentucky Department of Revenue – Individual Income Tax page:
https://revenue.ky.gov/Individual/Individual-Income-Tax/Pages/default.aspx