Form Mi-1045 Draft - Application For Michigan Net Operating Loss Refund

MI-1045, Page 2

Filer’s Social Security Number

Application for Refund From

Carryback of Net Operating Loss

PART 2: REDETERMINING YOUR MICHIGAN INCOME TAX

23. Year you are carrying the NOL to ..................................................

24. Reported federal AGI ....................................................................

25. Additions from MI-1040, Schedule 1. Explain: _______________

___________________________________________________

26. Balance. Add lines 24 and 25 ........................................................

27. Subtractions from MI-1040, Schedule 1. Explain: ____________

___________________________________________________

28. Balance. Subtract line 27 from line 26 ...........................................

29. Enter Net Operating Loss from line 22 ..........................................

30. Balance. Subtract line 29 from line 28 ...........................................

31. Michigan exemption allowance......................................................

32. Taxable balance. Subtract line 31 from line 30 .............................

33. Tax. Multiply line 32 by applicable tax rate.

If less than zero, enter “0”..............................................................

34. Nonrefundable tax credits..............................................................

35. Tax due. Subtract line 34 from line 33.

If less than zero, enter “0”..............................................................

36. a. Refundable tax credits ...............................................................

b. Tax withheld ...............................................................................

c. Tax paid with prior returns ..........................................................

d. Estimated tax payments ............................................................

37. Total of items 36a through 36d ......................................................

38. Tax previously refunded or carried to next year.............................

39. Balance of tax paid. Subtract line 38 from line 37 .........................

40. Overpayment. Subtract line 35 from line 39 ..................................

Taxpayer Certification.

I declare under penalty of perjury that the information in this return

Preparer Certification.

I declare under penalty of perjury that this

and attachments is true and complete to the best of my knowledge.

return is based on all information of which I have any knowledge.

Filer’s Signature

Date

Preparer’s PTIN, FEIN or SSN

Spouse’s Signature

Date

Preparer’s Business Name (print or type)

Preparer’s Business Address (print or type)

Yes

I authorize Treasury to discuss my return with my preparer.

Line-by-Line Instructions for Parts 1 and 2

Part 2: Redetermining Your Michigan Income Tax

Note: The Michigan NOL is generally carried back two years. See

instructions, page 4, for exceptions.

Line 25: Include any additions from Michigan Schedule 1.

Line 27: Include any subtractions from Michigan Schedule 1.

Part 1: Computing Net Operating Loss

Line 30: If line 30 is less than zero, carry amount to line 29 in the

To complete Part 1, use the entries on your U.S. Form 1040 for the year

next column. This amount cannot exceed line 29 of the preceding

the loss occurred. Do not consider income and losses from other states,

column.

income and losses from oil and gas production, or net operating loss

deductions (NOLD) from other years.

Line 34: Enter the total of nonrefundable credits claimed on your

original return.

Line 10: Miscellaneous income includes state and local refunds,

unemployment benefits, alimony received and any other miscellaneous

Line 36a: Enter the total of refundable credits for homestead

taxable income.

property tax, farmland preservation and any other refundable credits

claimed for the tax year(s) you are carrying the loss. Any credit

Line 14: Subtract line 13 from line 11. This amount should equal your

entered here must be adjusted for the NOLD adjustment to household

federal AGI if you have no income or losses from other states, income

income, if applicable. Be sure to attach your amended credit form.

and losses from oil and gas production, or net operating loss deductions

from other years.

Line 36c: For the year listed on line 23 , enter total tax paid with the

annual return plus any additional tax paid after original return was filed.

Line 19: The excess capital loss must be calculated on a U.S. Form

1045 Schedule A, line XX or XX, then entered on this line.

Mail your completed form to: Michigan Department of Treasury

Lansing, MI 48956

0000 2011 73 02 27 2

Form Mi-1045 Draft - Application For Michigan Net Operating Loss Refund - 2011 Page 2

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