Instructions For Form 1045 - Application For Tentative Refund

Schedule B—NOL

entry on this line, identify the taxes

Do not include on line 6 any

that apply.

business deductions. These are

Carryover

deductions that are connected with a

Line 28—Overpayment

trade or business. They include:

Complete and file this schedule to

•

State income tax on business

determine the NOL deduction for

of Tax Under Section

profits,

each carryback year and the amount

•

1341(b)(1)

Educator expenses,

to be carried forward, if not fully

•

Moving expenses,

absorbed. Unless you are making an

If you apply for a tentative refund

•

The deduction for one-half of

election to carry back an NOL 5 years

based on an overpayment of tax

self-employment tax,

under Rev. Proc. 2009-52, make the

under section 1341(b)(1), enter it on

•

Domestic production activities

same entries in each column heading

this line. Also, attach a computation

deduction,

as on page 1 of Form 1045 (see the

showing the information required by

•

Rental losses,

instructions for Lines 10 Through 27

Regulations section 5.6411-1(d).

•

Loss on the sale or exchange of

on page 3). If you elect to carry back

business real estate or depreciable

an NOL 5 years under Rev. Proc.

Signature

property,

2009-52, for the 5th carryback year

•

Individuals. Sign and date Form

Your share of a business loss from

enter on line 1 of Schedule B the

1045. If Form 1045 is filed jointly,

a partnership or an S corporation,

amount of the NOL that could be

•

both spouses must sign.

Ordinary loss on the sale or

carried back to that year if the

exchange of section 1244 (small

carryback was not limited to 50

Estates. All executors or

business) stock,

percent of taxable income. For

administrators must sign and date

•

Ordinary loss on the sale or

example, if you elect to carryback a

Form 1045.

exchange of stock in a small business

$20,000 NOL 5 years and taxable

Trusts. The fiduciary or an

investment company operating under

income for the 5th carryback year is

authorized representative must sign

the Small Business Investment Act of

$10,000, enter $20,000 on line 1 of

and date Form 1045.

1958,

Schedule B rather than $5,000, the

•

Loss from the sale of accounts

amount of the NOL that is deductible

Schedule A—NOL

receivable if such accounts arose

in the carryback year.

Complete and file this schedule to

under the accrual method of

Generally, if an NOL is more than

determine the amount of the NOL that

accounting,

the modified taxable income for the

•

is available for carryback or

If you itemized your deductions,

earliest year to which it is carried, you

carryover.

casualty and theft losses (even if they

must file Schedule B to figure the

involve nonbusiness property) and

Line 2—Nonbusiness Capital

amount of the NOL to be carried to

employee business expenses (such

the next tax year. The amount of the

Losses

as union dues, uniforms, tools, and

carryover is generally the excess, if

Do not include on this line any section

educational expenses), and

any, of the NOL carryback over the

•

1202 exclusion amounts (even if

The amount of any net disaster

modified taxable income for that

entered as losses on Schedule D

loss from Schedule L (Form 1040A or

earlier year. Modified taxable income

(Form 1040) or Schedule D (Form

1040), line 6, you included in your

is the amount figured on line 9 of

1041)).

standard deduction.

Schedule B.

Line 6—Nonbusiness

Line 7—Nonbusiness

If you carry two or more NOLs

Deductions

Income Other Than Capital

to a tax year, figure your

modified taxable income by

Enter as a positive number

Gains

CAUTION

deducting the NOLs in the order in

deductions that are not connected

Enter income that is not from a trade

which they were incurred. First,

with a trade or business. They

or business. Examples are ordinary

deduct the NOL from the earliest

include:

dividends, annuities, and interest on

•

year, then the NOL from the next

IRA deductions,

investments.

•

earliest year, etc. After you deduct

Health savings account deduction,

•

each NOL, there will be a new,

Archer MSA deduction,

Do not enter business income on

•

smaller, modified taxable income to

Deductions for payments on behalf

line 7. This is income from a trade or

compare to any remaining NOL.

of a self-employed individual to a

business and includes:

•

SEP, SIMPLE, or qualified plan,

Salaries and wages,

Special Rules for Certain 5-Year

•

Alimony paid,

Rental income,

NOL Carrybacks. If you elect to

•

The additional exemption amount

Gain on the sale or exchange of

carry back a 2008 or 2009 NOL for a

for providing housing to a Midwestern

business real estate or depreciable

period of 5 years under Rev. Proc.

displaced individual from Form 8914,

property, and

2009-52 (as explained under Special

•

line 6,

Your share of business income

Rules for 2008 or 2009 NOLs

•

Most itemized deductions (except

from a partnership or an S

beginning on page 4), the amount so

for state income tax on business

corporation.

elected is absorbed by no more than

profits, casualty and theft losses, and

50 percent of your modified taxable

For more details on business and

any employee business expenses),

income for the 5th preceding tax year.

nonbusiness income and deductions,

and

You must follow the special rules

•

see Pub. 536.

The standard deduction (minus the

discussed in the instructions for

amount of any net disaster loss from

Schedule B, line 10, beginning on the

Line 17—Section 1202

Schedule L (Form 1040A or 1040),

next page.

Exclusion

line 6).

Line 2

Do not include on line 6 the

Enter as a positive number any gain

deduction for personal exemptions for

excluded under section 1202 on the

Do not take into account on this line

you, your spouse, or your

sale or exchange of qualified small

any NOL carryback from 2009 or

dependents.

business stock.

later. However, do take into account

-7-

Instructions for Form 1045 (2009)

Instructions For Form 1045 - Application For Tentative Refund - 2009 Page 7

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