Instructions For Form 1045 (Rev. February 2006)

Line 14—Exemptions

Line 16—Income Tax

Line 20—Other Credits

Refigure your tax for each carryback

See your tax return for the carryback

Individuals. Enter in the column

year after taking into account the

year for any additional credits such as

labeled “Before carryback” for each

NOL or net section 1256 contracts

the earned income credit, credit for

applicable carryback year, the

loss carryback. Include any tax from

child and dependent care expenses,

amount shown (or as previously

Form 4970, Tax on Accumulation

child tax credit, education credits,

adjusted) on Form 1040:

•

Distribution of Trusts, and Form 4972,

foreign tax credit, retirement savings

Line 41 for 2004,

•

Tax on Lump-Sum Distributions.

contributions credit, etc., that will

Line 39 for 2003,

•

Attach any schedule used to figure

apply in that year. If you make an

Line 40 for 2002,

•

your tax or an explanation of the

entry on this line, identify the credit(s)

Line 38 for 1998-2001,

•

method used to figure the tax and, if

claimed.

Line 37 for 1997, or

•

necessary, a detailed computation.

Line 36 for 1995-1996.

After carryback. Refigure any

For example, write “Tax Rate

credits included on this line that are

If you filed Form 1040A, enter the

Schedule –2003” if this is the method

based on or limited by your tax

amount shown (or as previously

used for that year. You do not need

liability. Use your tax liability

adjusted) on:

•

to attach a detailed computation of

determined after you apply the NOL

Line 26 for 2002 – 2004,

•

the tax in this case.

or net section 1256 contracts loss

Line 24 for 2000 – 2001,

•

carryback.

Line 23 for 1998 – 1999, or

•

Line 17—Alternative

Line 21 for 1995 – 1997.

Line 23—

Minimum Tax

If you filed Form 1040-T for 1995,

Self-Employment Tax

enter the amount shown (or as

The carryback of an NOL or net

previously adjusted) on line 24.

section 1256 contracts loss may

Do not adjust self-employment tax

affect your alternative minimum tax.

because of any carryback.

If you filed Form 1040EZ and

Individuals use Form 6251 to figure

checked the “Yes” box on Form

this tax. Estates and trusts use

Line 24—Other Taxes

1040EZ, line 5, enter zero (or the

Schedule I (Form 1041).

amount from line F of the 1040EZ

See your tax return for the carryback

worksheet if married). If you checked

The 90% limit on the alternative

year for any other taxes not

the “No” box, enter:

tax net operating loss deduction

mentioned above, such as recapture

•

$3,100 for 2004 ($6,200 if married),

(ATNOLD) does not apply to the

taxes, tax on an IRA, etc., that will

•

$3,050 for 2003 ($6,100 if married),

portion of an ATNOLD attributable to

apply in that year. If you make an

•

$3,000 for 2002 ($6,000 if married),

qualified GO Zone losses. Instead,

entry on this line, identify the taxes

•

$2,900 for 2001 ($5,800 if married),

the ATNOLD for the tax year is

that apply.

•

$2,800 for 2000 ($5,600 if married),

limited to the sum of:

•

$2,750 for 1999 ($5,500 if married),

Line 28—Overpayment

1. The smaller of:

•

$2,700 for 1998 ($5,400 if married),

•

a. The sum of the ATNOL

of Tax Under Section

$2,650 for 1997 ($5,300 if married),

•

carrybacks and carryforwards to the

$2,550 for 1996 ($5,100 if married),

1341(b)(1)

tax year attributable to NOLs other

•

than qualified GO Zone losses, or

If you apply for a tentative refund

$2,500 for 1995 ($5,000 if married).

b. 90% of AMTI for the tax year

based on an overpayment of tax

(figured without regard to the

If you used TeleFile for your

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

ATNOLD and any domestic

original return and someone else

this line. Also, attach a computation

production activities deduction), plus

could claim you as a dependent on

showing the information required by

2. The smaller of:

their return, enter zero if you were

Regulations section 5.6411-1(d).

single. If you were married, see Form

a. The sum of the ATNOL

1040EZ for the year in question and

carrybacks to the tax year attributable

Signature

complete the worksheet on the back

to qualified GO Zone losses, or

of that form. Next, enter the amount

Individuals. Sign and date Form

b. AMTI for the tax year (figured

from line F of that worksheet on line

1045. If Form 1045 is filed jointly,

without regard to the ATNOLD and

15 of Form 1045 in the column

both spouses must sign.

any domestic production activities

labeled “Before carryback” for the

deduction) reduced by the amount

Estates. All executors or

applicable year. If no one could claim

determined under (1), above.

administrators must sign and date

you as a dependent, enter the

Form 1045.

amount listed above for that year.

Line 19—General

Trusts. The fiduciary or an

After carryback. If your

Business Credit

authorized representative must sign

deduction for personal exemptions in

and date Form 1045.

the carryback year was limited based

Enter in the column labeled “After

on your adjusted gross income, enter

carryback” for each affected

Schedule A—NOL

in the column labeled “After

carryback year the total of the

carryback” the deduction for personal

recomputed general business credits,

Complete and file this schedule to

exemptions refigured using the

using Form 3800, 8844, or 8884.

determine the amount of the NOL that

adjusted gross income determined

is available for carryback or

If an NOL or net section 1256

after you apply the NOL or net

carryover.

contracts loss carryback eliminates or

section 1256 contracts loss

reduces a general business credit in

carryback.

Line 2—Nonbusiness Capital

an earlier year, you may be able to

Losses

Estates and trusts. Enter in the

carry back the released credit 1 year

columns labeled “Before carryback”

(3 years if the credit arose in a tax

Do not include on this line any section

and “After carryback” for each

year beginning before 1998). See

1202 exclusion amounts (even if

applicable carryback year the amount

section 39 and the instructions for

entered as losses on Schedule D

shown (or as previously adjusted) on

Form 3800 for more details on

(Form 1040) or Schedule D (Form

Form 1041, line 20 (line 21 for 1997).

general business credit carrybacks.

1041).

-5-

Instructions For Form 1045 (Rev. February 2006) - 2005 Page 5

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