2025 Form NC-NOL
North Carolina Net Operating Loss Worksheet
Download or Print 2025 North Carolina Form NC-NOL
Use the embedded PDF viewer above to preview the 2025 Form NC-NOL and access any PDF tools available in your browser. The large buttons below the viewer provide another way to download, print, or email yourself a link to this page. Prior-year versions of this PDF are available further down the page.
About North Carolina Form NC-NOL
North Carolina Form NC-NOL calculates a state net operating loss and eligible deductions for losses carried forward from earlier years. Part 1 determines whether you incurred a North Carolina net operating loss for the current tax year. Part 2 calculates the allowable carryover deduction, including eligible older federal losses and North Carolina losses from prior years.
The 2025 fillable PDF contains a guidance sheet followed by three worksheet pages. Save the PDF to your computer and complete it using Adobe Acrobat Reader. Read the separate NC-NOL instructions before completing the worksheet. File NC-NOL with your income tax return when you incur a North Carolina net operating loss or deduct a qualifying loss from an earlier year.
North Carolina Form NC-NOL PDF Files by Year
Click any of the North Carolina Form NC-NOL PDF links above to download, save, view, and print the file for the corresponding year. These free PDF files are unaltered and are sourced directly from the publisher.
Related North Carolina Individual Income Tax Forms
Need to download more state income tax forms? View the 2025 North Carolina state tax forms list for full-year residents, part-year residents, and nonresidents.
| Form Code | Form Name |
|---|---|
| NC-NOL Instructions | Instructions for Form NC-NOL |
| Form D-400 | Individual Income Tax Return |
| Schedule S | NC Adjustments for Individuals |
| Schedule PN | Part-Year Resident and Nonresident Schedule |
Frequently Asked Questions (FAQ)
Here are answers to common questions about downloading, printing, completing, and attaching 2025 North Carolina Form NC-NOL.
Who should complete North Carolina Form NC-NOL?
Individuals, estates, and trusts use NC-NOL when they incur a North Carolina net operating loss or claim a deduction for a prior-year loss. Complete your North Carolina income tax return and its required forms and schedules before completing NC-NOL.
Is a North Carolina net operating loss the same as a federal loss?
Not necessarily. North Carolina requires its own adjustments and limitations when calculating a net operating loss. Follow the NC-NOL worksheet and instructions rather than entering a federal loss without making the required state calculations.
Where do I report the NC-NOL deduction on my individual return?
For tax year 2025, enter the deduction from NC-NOL, Part 2C, Line 20, on D-400 Schedule S, Line 39. This is the allowable deduction for prior-year losses. It is separate from the current-year loss calculated in Part 1.
Can I fill out this NC-NOL PDF by hand?
No. This is the web fill-in version, and its guidance sheet says not to handwrite information. Download and save the file, then complete it in Adobe Acrobat Reader. Use the print icon on the form to check that required fields are complete before printing.
Do I include the first PDF page with my return?
No. The first page provides fill-in and printing guidance and should not be included with your return. The remaining three pages contain the worksheet. Follow the guidance sheet when printing, including its instructions for single-sided pages and no page scaling.
Are there special instructions for part-year residents and nonresidents?
Yes. The separate Form NC-NOL instructions include additional guidance for part-year residents and nonresidents. Review those sections when calculating the current-year loss and any carryover deduction. The instructions also include guidance for estates and trusts.
Last updated: November 15, 2026
References:
- 2025 Form NC-NOL: Net Operating Loss Worksheet. State of North Carolina, North Carolina Department of Revenue. Retrieved November 15, 2026.
- 2025 Instructions for Form NC-NOL. State of North Carolina, North Carolina Department of Revenue. Retrieved November 15, 2026.
- Individual Income Tax Forms and Instructions. State of North Carolina, North Carolina Department of Revenue. Retrieved November 15, 2026.
- G.S. 105-153.5A: Net Operating Loss Provisions. North Carolina General Assembly, State of North Carolina.