Indiana Code Title 6. Taxation § 6-3-1-40

(1) computed as an allowable federal net operating loss with regard to a taxable year; and

(2) required to be carried forward or carried back under the Internal Revenue Code;

(1) an excess business loss for the taxable year under Section 461(l) of the Internal Revenue Code;

(2) a federal net operating loss for a trade or business that is not allowable in the taxable year in which the loss was incurred as a result of the application of Section 512(a)(6)(C) of the Internal Revenue Code, with the federal net operating loss determined separately for each trade or business; and

(3) a federal net operating loss that is not affected by excess inclusion income under Section 860E of the Internal Revenue Code.