Alabama Application of Net Operating Loss Carryback or Carryforward for Fiduciary Return (Form 41)

Application of Net Operating Loss Carryback or Carryforward for Fiduciary Return (Form 41)
Form NOL-F85A
FORM

NOL-F85A
REV. 2020

Reset Form

•  ESBT NOL
Name of Estate or Trust as shown on Form 41

*23001941*

AlAbAmA
DepArtment of revenue

Application of net operating loss
Carryback or Carryforward
fiduciary return form 41

For year ending

•______________________

Federal Employer Identification Number

PURPOSE OF FORM NOL-F85A: Form NOL-F85A is designed to apply a net operating loss sustained by an estate or trust (Form 41) to the next taxable year to which the
loss is being carried. Before Form NOL-F85A can be completed, you must first complete Form NOL-F85 to determine if you have an allowable net operating loss and the amount
that may be carried back or carried forward. See instructions for further information.
1

(a) Enter the taxable year during which
the net operating loss was incurred.
Beginning •______________________________________, Ending •_______________________________.
(b) Did you elect on Form NOL-F85 to forfeit
the election to carry this loss back?
•  Yes
•  No
PART I – Computation of Unused Net Operating Loss
2 Enter the net operating loss as shown on line 17, Part II of Form NOL-F85 or as shown on line 4, Form NOL-F85A.
2 •
(See instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3 ENTER ALABAMA TAXABLE INCOME. Enter the amount shown on Alabama Form 41, page1, line 5 or 6.
3 •
Schedule ESBT NOL, use Schedule ESBT, line 20.(NOL-F85A will not apply if line 3 is a negative value or 0) . . . . . . . . . . . . . .
4 UNUSED NET OPERATING LOSS. If line 2 exceeds line 3, subtract line 3 from line 2 and enter the difference
here. If line 3 exceeds line 2, enter zero. If the amount on this line is more than zero, you may carry this amount
forward to the next applicable year (Form NOL-F85A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  4 •
PART II – Application To Carryback / Carryforward Year
5 Enter the amount from Alabama Form 41, page 1, line 5 or line 6.
5 •
Schedule ESBT NOL, use Schedule ESBT, line 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 NET OPERATING LOSS TO BE APPLIED. Subtract the amount on line 4 from the amount on line 2 and enter
the difference here. If line 4 is zero, enter the amount shown on line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  6 •
7 ALABAMA TAXABLE INCOME AFTER APPLICATION OF NET OPERATING LOSS. Subtract line 6 from line 5
and enter the result here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  7 •
PART III – Computation of Tax
Complete lines 8 through 11 below to determine the correct tax due after application of the net operating loss.
ESBT: Complete lines 10 and 11 only.
8

$•
__________________ at 2 percent (on first $500 or fraction thereof, of amount taxable as shown on line 7). . . . . . . . . . . . . . .

8 •

9

•
$__________________
at 4 percent (on next $2,500 or fraction thereof, of amount taxable as shown on line 7) . . . . . . . . . . . . .

9 •

10
11

•
$__________________
at 5 percent (on all over $3,000 of amount taxable as shown on line 7) . . . . . . . . . . . . . . . . . . . . . . . . . . 10 •
TOTAL TAX DUE AFTER APPLICATION OF NET OPERATING LOSS.
The amount from line 11 must be carried forward to Alabama Form 41, page 1, line 5a or line 6a. Schedule ESBT NOL use
Schedule ESBT, line 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  11 •
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