Instructions For Form 1045 - Application For Tentative Refund

child tax credit, education credits,

with a trade or business. They

Do not enter business income on

foreign tax credit, retirement savings

include:

line 7. This is income from a trade or

•

contributions credit, etc., that will

IRA deductions,

business and includes:

•

apply in that year. If you make an

Health savings account deduction,

Salaries and wages,

•

entry on this line, identify the credit(s)

Archer MSA deduction,

Rental income,

•

claimed.

Deductions for payments on behalf

Gain on the sale or exchange of

of a self-employed individual to a

business real estate or depreciable

After carryback. Refigure any

SEP, SIMPLE, or qualified plan,

property, and

credits included on this line that are

•

Alimony paid,

Your share of business income

based on or limited by your tax

•

Most itemized deductions (except

from a partnership or an S

liability. Use your refigured tax liability

for state income tax on business

corporation.

to refigure your credits for each

profits, casualty and theft losses, and

carryback year.

For more details on business and

any employee business expenses),

nonbusiness income and deductions,

and

Line 23—

see Pub. 536.

•

The standard deduction (minus the

Self-Employment Tax

amount of any net disaster loss from

Line 17—Section 1202

Schedule L (Form 1040A or 1040),

Do not adjust self-employment tax

Exclusion

line 6).

because of any carryback.

Enter as a positive number any gain

Do not include on line 6 the

excluded under section 1202 on the

Line 24—Other Taxes

deduction for personal exemptions for

sale or exchange of qualified small

you, your spouse, or your

See your tax return for the carryback

business stock.

dependents.

year for any other taxes not

Schedule B—NOL

mentioned above, such as recapture

Do not include on line 6 any

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

business deductions. These are

Carryover

apply in that year. If you make an

deductions that are connected with a

entry on this line, identify the taxes

Complete and file this schedule to

trade or business. They include:

•

that apply.

determine the NOL deduction for

State income tax on business

each carryback year and the amount

profits,

Line 28—Overpayment

•

to be carried forward, if not fully

Educator expenses,

•

absorbed. Make the same entries in

Moving expenses,

of Tax Under Section

•

each column heading as on page 1 of

The deduction for one-half of

1341(b)(1)

Form 1045 (see the instructions for

self-employment tax,

•

Lines 10 Through 27 on page 3).

Domestic production activities

If you apply for a tentative refund

deduction,

based on an overpayment of tax

In most cases, if an NOL is more

•

Rental losses,

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

than the modified taxable income for

•

Loss on the sale or exchange of

this line. Also, attach a computation

the earliest year to which it is carried,

business real estate or depreciable

showing the information required by

you must file Schedule B to figure the

property,

Regulations section 5.6411-1(d).

amount of the NOL to be carried to

•

Your share of a business loss from

the next tax year. The amount of the

a partnership or an S corporation,

Signature

carryback is in most cases the

•

Ordinary loss on the sale or

excess, if any, of the NOL carryback

Individuals. Sign and date Form

exchange of section 1244 (small

over the modified taxable income for

1045. If Form 1045 is filed jointly,

business) stock,

that earlier year. Modified taxable

•

both spouses must sign.

Ordinary loss on the sale or

income is the amount figured on line

exchange of stock in a small business

Estates. All executors or

9 of Schedule B.

investment company operating under

administrators must sign and date

the Small Business Investment Act of

If you carry two or more NOLs

Form 1045.

1958,

to a tax year, figure your

Trusts. The fiduciary or an

•

Loss from the sale of accounts

modified taxable income by

CAUTION

authorized representative must sign

receivable if such accounts arose

deducting the NOLs in the order in

and date Form 1045.

under the accrual method of

which they were incurred. First,

accounting,

deduct the NOL from the earliest

Schedule A—NOL

•

If you itemized your deductions,

year, then the NOL from the next

casualty and theft losses (even if they

Complete and file this schedule to

earliest year, etc. After you deduct

involve nonbusiness property) and

determine the amount of the NOL that

each NOL, there will be a new,

employee business expenses (such

is available for carryback or

smaller, modified taxable income to

as union dues, uniforms, tools, and

carryforward.

compare to any remaining NOL.

educational expenses), and

Line 2—Nonbusiness Capital

•

Line 2

Any net disaster loss from

Losses

Schedule L (Form 1040A or 1040),

Do not take into account on this line

line 6, you included in your standard

any NOL carryback from 2010 or

Do not include on this line any section

deduction.

later. However, do take into account

1202 exclusion amounts (even if

NOLs that occurred in tax years

entered as losses on Schedule D

Line 7—Nonbusiness

before 2010 and are otherwise

(Form 1040) or Schedule D (Form

Income Other Than Capital

allowable as carrybacks or

1041)).

Gains

carryforwards.

Line 6—Nonbusiness

Note. If your taxable income is

Enter income that is not from a trade

Deductions

or business. Examples are ordinary

shown as zero on your tax return (or

Enter as a positive number

dividends, annuities, and interest on

as previously adjusted) for any

deductions that are not connected

investments.

carryback year, refigure it without

-6-

Instructions for Form 1045 (2010)

Instructions For Form 1045 - Application For Tentative Refund - 2010 Page 6

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