Instructions For Form 1045 - Application For Tentative Refund

Form 1040X or Other

recomputation on the 2008 Form

carried back and the date the

3800.

carryback year ends in the spaces

Amended Return

provided in the headings above line

If you filed a joint return (or

Individuals can get a refund by filing

10 for each pair of columns.

separate return) for some but not all

Form 1040X, Amended U.S.

Example. Your tax year is the

of the tax years involved in figuring

Individual Income Tax Return, instead

the unused credit carryback, special

2009 calendar year and you are

of Form 1045. An estate or trust can

rules apply to figuring the carryback.

carrying an NOL back 2 years. You

file an amended Form 1041, U.S.

See the instructions for Form 3800.

enter “2nd” and “12/31/07” in the left

Income Tax Return for Estates and

column heading in the spaces

Trusts. Generally, you must file an

Line 1c—Net Section

provided. The column heading now

amended return no later than 3 years

reads “2nd preceding tax year ended

1256 Contracts Loss

after the due date of the return for the

12/31/07.”

applicable tax year.

An individual can elect to carry back a

For each carryback year, enter in

net section 1256 contracts loss to

If you use Form 1040X or other

the column labeled “Before

each of the 3 tax years preceding the

amended return, follow the

carryback” the amounts for the

loss year. An estate or trust is not

instructions for that return. Attach to

carryback year as shown on your

eligible to make this election. To

the amended return a copy of

original or amended return. If the

make the election, check box D at the

Schedule A of Form 1045 showing

amounts were previously adjusted by

top of Form 6781. The amount which

the computation of the NOL and, if

you or the IRS, enter the amounts

can be used in any prior tax year

applicable, a copy of Schedule B of

after adjustment.

cannot exceed the net section 1256

Form 1045 showing the computation

contract gain in that year and cannot

of the NOL carryover. Complete a

Line 10—NOL Deduction

increase or create an NOL for that

separate Form 1040X or other

After Carryback

year. Reflect the carryback as a

amended return for each year for

reduction to your adjusted gross

which you request an adjustment.

Use the following rules to figure the

income in the “After carryback”

tax years to which you must carry an

The procedures for Form 1040X

column on line 11. Attach to Form

NOL shown on Schedule A, line 25. If

and Form 1045 are different. The IRS

1045 a copy of Form 6781 and

an NOL is not fully absorbed in a year

is not required to process your Form

Schedule D (Form 1040) for the year

to which it is carried, complete

1040X within 90 days. However, if we

of the net section 1256 contracts loss

Schedule B to figure the amount to

do not process it within 6 months

and an amended Form 6781 and an

carry to the next carryback year.

from the date you file it, you can file

amended Schedule D (Form 1040)

suit in court. If the IRS disallows your

Note. You may need to use

for each carryback year. For more

claim on Form 1040X and you

additional Forms 1045 to carry back

details, see section 1212(c).

disagree with that determination, you

an NOL. Complete lines 1 through 9

must file suit no later than 2 years

Line 9

and Schedule A on only one Form

after the date we disallow it.

1045. Use this Form 1045 for the

If an NOL or net section 1256

earliest preceding tax years. You

Additional Information

contracts loss carryback eliminates or

must sign this Form 1045, but do not

reduces a prior year foreign tax

need to sign the other Forms 1045.

For more details on NOLs, see Pub.

credit, you cannot use Form 1045 to

536, Net Operating Losses (NOLs)

General rule. You generally must

carry the released foreign tax credits

for Individuals, Estates, and Trusts.

carry back the entire NOL to the 2nd

to earlier years. Also, if the released

tax year before the loss year. Any

foreign tax credits result in the

loss not used in the 2nd preceding

release of general business credits,

Specific Instructions

year is then carried to the 1st

you cannot use Form 1045 to carry

preceding year. Any loss not applied

the released general business credits

in the 2 preceding years can be

to earlier years. Instead, you must file

Address

carried forward up to 20 years. The

Form 1040X or other amended return

2-year carryback period does not

to claim refunds for those years. For

P.O. box. Enter your box number

apply to the portion of an NOL

details, see Rev. Rul. 82-154, 1982-2

only if your post office does not

attributable to an eligible loss; a

C.B. 394.

deliver mail to your street address.

farming loss; a qualified disaster, GO

Foreign address. Enter the

Lines 10 Through

Zone, recovery assistance, or

information in the following order:

disaster recovery assistance loss; a

27—Computation of

City, province or state, and country.

specified liability loss; or a 2008 or

Follow the country’s practice for

2009 NOL for which an election is

Decrease in Tax

entering the postal code. Do not

made under Rev. Procs. 2009-26 or

abbreviate the country name.

Use one pair of columns to enter

2009-52 (see Special Rules for 2008

amounts before and after carryback

or 2009 NOLs on page 4).

Line 1b—Unused

for each year to which the loss is

Eligible losses. To the extent the

being carried. Start with the earliest

General Business Credit

NOL is an eligible loss (defined on

carryback year. A net section 1256

page 1), it is carried back to the 3rd

If you claim a tentative refund based

contracts loss can be carried back 3

tax year before the loss. Any such

on the carryback of an unused

years. See the instructions for line 10

loss not used in that year is carried to

general business credit, attach a

that begin on this page to figure the

the 2nd and then the 1st preceding

detailed computation showing how

tax years to which you can carry an

year. Any such loss that is not applied

you figured the credit carryback and a

NOL. Use the remaining pairs of

in the 3 preceding years can be

recomputation of the credit after you

columns for each consecutive

carried forward up to 20 years.

apply the carryback. Generally, an

preceding tax year until the loss is

unused general business credit can

fully absorbed. Enter the ordinal

Only the eligible loss portion of the

be carried back 1 year. Make the

number of years the loss is being

NOL can be carried back 3 years.

-3-

Instructions for Form 1045 (2009)

Instructions For Form 1045 - Application For Tentative Refund - 2009 Page 3

Related Articles

Related forms

Related Categories