Instructions For Form 1045 (Rev. February 2006)

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2005 farming losses as if they were

period will be 2 years (3 years to the

Line 38 for 2002,

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not farming losses. If you filed your

extent the loss is an eligible loss; 5

Line 36 for 1998 –2001,

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original return on time, you can make

years to the extent the loss is a

Line 35 for 1997, or

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the election on an amended return

farming loss). To make this election

Line 34 for 1995 –1996.

filed within 6 months after the due

for 2005, attach to your 2005 income

If you filed Form 1040A, enter the

date of the return (excluding

tax return filed by the due date

amount shown (or as previously

extensions). Attach the election to the

(including extensions) a statement

adjusted) on:

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amended return, and write “Filed

that you are electing to treat any

Line 24 for 2002 –2004,

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pursuant to section 301.9100-2” on

2005 specified liability losses as if

Line 22 for 2000 –2001,

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the election statement. File the

they were not specified liability

Line 21 for 1998 –1999, or

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amended return at the same address

losses. If you filed your original return

Line 19 for 1995 –1997.

you used for your original return.

on time, you can make the election

If you filed Form 1040-T for 1995,

Once made, the election is

on an amended return filed within 6

enter the amount shown (or as

irrevocable.

months after the due date of the

previously adjusted) on line 20.

return (excluding extensions). Attach

Qualified GO Zone losses. To the

If you filed Form 1040EZ and

the election to the amended return,

extent the NOL is a qualified GO

checked the “Yes” box on Form

and write “Filed pursuant to section

Zone loss (defined on page 1), that

1040EZ, line 5, enter the amount

301.9100-2” on the election

part of the loss is carried back to the

shown (or as previously adjusted) on

statement. File the amended return at

5th tax year before the loss. Any such

the same address you used for your

line E of the worksheet on the back of

loss not used in that year is carried to

Form 1040EZ. If you checked the

original return. Once made, the

the 4th preceding year and then

“No” box, enter:

election is irrevocable.

applied consecutively forward through

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$4,850 for 2004 ($9,700 if married),

Special rules. Special rules apply if

the 1st preceding year. Any such loss

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$4,750 for 2003 ($9,500 if married),

you filed a joint return (or a separate

not applied in the 5 preceding years

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$4,700 for 2002 ($7,850 if married),

return) for some but not all of the tax

can be carried forward up to 20

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$4,550 for 2001 ($7,600 if married),

years involved in figuring an NOL

years.

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$4,400 for 2000 ($7,350 if married),

carryback. For details, see Pub. 536.

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Only the qualified GO Zone loss

$4,300 for 1999 ($7,200 if married),

Attach a computation showing how

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portion of the NOL can be carried

$4,250 for 1998 ($7,100 if married),

you figured the carryback.

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back 5 years.

$4,150 for 1997 ($6,900 if married),

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Line 11—Adjusted

$4,000 for 1996 ($6,700 if married),

You can elect to treat a qualified

GO Zone loss as if it were not a

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Gross Income

$3,900 for 1995 ($6,550 if married).

qualified GO Zone loss. If you make

this election, the loss carryback

Enter in the column labeled “Before

If you used TeleFile for your

period will be 2 years (3 years to the

carryback” your adjusted gross

original return and someone else

extent the loss is an eligible loss). To

income (AGI) for the carryback year

could claim you as a dependent on

as shown on your original or

make this election for 2005, attach to

their return, see Form 1040EZ for the

your 2005 income tax return filed by

amended return.

year in question and complete the

the due date (including extensions) a

worksheet on the back of that form.

Enter in the column labeled “After

statement that you are electing to

Next, enter the amount from line E of

carryback” your adjusted gross

treat any 2005 qualified GO Zone

that worksheet on line 13 of Form

income refigured after you apply the

losses as if they were not qualified

1045 in the column labeled “Before

NOL or net 1256 contracts loss

GO Zone losses. If you filed your

carryback” for the applicable year. If

carryback.

original return on time, you can make

no one could claim you as a

To refigure your adjusted gross

the election on an amended return

dependent, enter the amount listed

income for the year in which an NOL

filed within 6 months after the due

above for that year.

is fully absorbed or a net section

date of the return (including

After carryback. If you itemized

1256 contracts loss is carried back,

extensions). Attach the election to the

deductions in the carryback year,

refigure any items of income and any

amended return, and write “Filed

enter in the column labeled “After

deductions that are based on or

pursuant to section 301.9100-2” on

carryback” the total of your

limited to a percentage of your

the election statement. File the

deductions after refiguring any that

adjusted gross income. Amounts to

amended return at the same address

are based on, or limited to a

refigure include:

you used for your original return.

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percentage of, your adjusted gross

The special allowance for passive

Once made, the election is

income. Use your adjusted gross

activity losses from rental real estate

irrevocable.

income determined after you apply

activities,

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Specified liability losses. To the

the NOL or net section 1256

Taxable social security benefits,

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extent an NOL is a specified liability

contracts loss carryback. Amounts

IRA deductions,

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loss (defined on page 2), that part of

you may have to refigure include:

The student loan interest

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the loss is carried back to the 10th

Medical expenses,

deduction,

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tax year before the loss. Any such

Sales taxes if you figured this

The tuition and fees deduction,

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loss not used in that year is carried to

deduction using the sales tax tables

Excludable savings bond interest,

the 9th preceding year and then

(for carrybacks to 2004),

and

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applied consecutively forward through

Personal casualty and theft losses,

The exclusion of amounts received

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the 1st preceding year. Any such loss

Miscellaneous deductions subject

under an employer’s adoption

that is not applied in the 10 preceding

to the 2% limit, and

assistance program.

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years can be carried forward up to 20

Itemized deductions subject to the

Line 12—Deductions

years.

overall limit of section 68.

Do not refigure your charitable

Only the specified liability loss

Individuals. Enter in the column

contributions deduction.

portion of the NOL can be carried

labeled “Before carryback” for each

back 10 years.

If you have an NOL, see Pub. 536

applicable carryback year the amount

for more information and examples.

You can elect to treat a specified

shown (or as previously adjusted) on

liability loss as if it were not a

Form 1040:

If you did not itemize deductions in

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specified liability loss. If you make

Line 39 for 2004,

the carryback year, enter your

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this election, the loss carryback

Line 37 for 2003,

standard deduction for that year.

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Instructions For Form 1045 (Rev. February 2006) - 2005 Page 4

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