Publication 536 - Net Operating Losses (Nols) For Individuals, Estates, And Trusts - Internal Revenue Service - 2006 Page 17
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19Table 1. (Continued)
ADJUSTMENT TO OVERALL ITEMIZED LIMIT:
33.
Enter the amount from Schedule A (Form 1040), line 28, or Schedule A (Form 1040NR), line 17
34.
Add lines 17, 20, 25, and 30, and the amounts on Schedule A (Form 1040), lines 9, 14, and 27, or
the amounts from Schedule A (Form 1040NR), lines 3 and 16
35.
Add lines 17 and 25, the amount on Schedule A (Form 1040), line 13, and any gambling losses
included on Schedule A (Form 1040), line 27
36. Subtract line 35 from line 34. If the result is zero, enter the amount from line 32 on line 7 above and
stop here. Otherwise, go to line 37
37.
Multiply line 36 by 80% (.80)
38.
Subtract $150,500 ($75,250 if married filing separately) from the amount on line 13
39.
Multiply line 38 by 3% (.03)
40.
Enter the smaller of line 37 or line 39
41.
Divide line 40 by 3.0
42.
Subtract line 41 from line 40
43.
Subtract line 42 from line 34. Enter the result (but not less than your standard deduction amount)
44.
Subtract line 43 from line 33. Enter the result here and on line 7
Publication 536 (2006)
Page 17
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