Instructions For Form 1045 - Application For Tentative Refund

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tax year thereafter). To figure this

year under Rev. Proc. 2009-52 and

You entered an amount other than

limit, combine lines 2 through 8 on

also carry back to the 5th preceding

zero on line 23, and

•

Schedule B and divide that amount

tax year another part of your NOL

You had any items of income or

by 2. Enter the result (but not less

from the same loss year under a

deductions based on adjusted gross

than zero) on Schedule B, line 9.

different 5-year carryback provision,

income which are listed in the

Subtract the amount on line 9 from

such as Rev. Proc. 2009-26 (for

instructions for line 6 of Schedule B

the amount on line 1 and enter the

ESBs) or section 172(b)(1)(G)

on page 8.

result on line 10. For other years, the

(farming losses), use the worksheet

If you cannot use the amount from

general rule applies.

on page 8 to calculate your NOL

line 24 as your adjusted gross

carryover from the 5th preceding tax

income, figure your adjusted gross

Note. When you carry back your

year.

income as follows.

NOL to the 5th preceding tax year,

the amount you can carry back is

Line 20—Refigured Qualified

1. Figure the adjustment to each

limited to 50 percent of your taxable

item of income or deduction in the

Mortgage Insurance

income, not your modified taxable

same manner as explained in the

Premiums

income, for the 5th preceding tax

instructions for line 6 of Schedule B

Is your modified adjusted gross

year. See instructions for line 10 of

on page 8, except do not take into

income from Form 1045, Schedule B,

Form 1045. However, you must

account any NOL carrybacks when

line 13, more than $100,000 ($50,000

calculate modified taxable income to

figuring adjusted gross income.

if married filing separately)?

determine how much of the remaining

Attach a computation showing how

NOL can be carried forward to the 4th

you figured the adjustments.

Yes. Your deduction is limited.

preceding tax year using Schedule B,

2. Add lines 3, 4, 5, 11, and 23 of

Refigure your deduction using the

if your NOL is not fully absorbed by

Schedule B to the total adjustments

Qualified Mortgage Insurance

50 percent of your taxable income in

you figured in (1) above. Use the

Premiums Deduction Worksheet

the 5th preceding tax year. The

result as your adjusted gross income

below.

amount you can carry forward from

to refigure charitable contributions.

No. Your deduction is not

the 5th preceding tax year to the 4th

limited. Enter the amount from line 19

For NOL carryover purposes, you

preceding tax year equals the excess

on line 20 and enter -0- on line 21.

must reduce any charitable

of your NOL over 50 percent of your

contributions carryover to the extent

modified taxable income, not your

Line 26—Refigured

that the NOL carryover on line 10 is

taxable income, for the 5th preceding

Charitable Contributions

increased by any adjustment to

tax year.

Refigure your charitable contributions

charitable contributions.

Carryback under Rev. Proc.

using line 24 as your adjusted gross

2009-52 and other 5-year carryback

income unless, for any preceding tax

provisions. If you carry back part of

year:

your NOL to the 5th preceding tax

Qualified Mortgage Insurance Premiums Deduction Worksheet—Line 20

Keep for Your Records

Before you begin:

See the instructions for line 20 above to see if you must use this worksheet to refigure your deduction.

Enter the total premiums you paid in 2008 for qualified mortgage insurance for a contract issued after

December 31, 2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.

Enter the amount from Form 1045, Schedule B, line 13 . . . . . . . . . . . . . . . . . . . . 2.

Enter $100,000 ($50,000 if married filing separately) . . . . . . . . . . . . . . . . . . . . . 3.

Is the amount on line 2 more than the amount on line 3?

No.

Your deduction is not limited. Enter the amount from line 19 on line 20 of

Form 1045, Schedule B, and enter -0- on line 21. Do not complete the

rest of this worksheet.

Yes. Subtract line 3 from line 2. If the result is not a multiple of $1,000 ($500 if

married filing separately), increase it to the next multiple of $1,000 ($500

if married filing separately). For example, increase $425 to $1,000,

increase $2,025 to $3,000; or if married filing separately, increase $425 to

$500, increase $2,025 to $2,500, etc. . . . . . . . . . . . . . . . . . . . . . . . . . 4.

Divide line 4 by $10,000 ($5,000 if married filing separately). Enter the result as a decimal. If the result is

1.0 or more, enter 1.0 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.

Multiply line 1 by line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.

Refigured qualified mortgage insurance premiums deduction. Subtract line 6 from line 1. Enter the

result here and on Form 1045, Schedule B, line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.

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Instructions for Form 1045 (2009)

Instructions For Form 1045 - Application For Tentative Refund - 2009 Page 9

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