Instructions For Form 1045 - Application For Tentative Refund

rules apply to figuring the carryback. See the

The adoption credit.

Excessive Allowances

instructions for Form 3800.

The District of Columbia first-time homebuyer

Any amount applied, credited, or refunded

credit.

based on this application that the IRS later

Line 9

However, refigure your charitable

determines to be excessive may be billed as if

contributions deduction without regard to any

If an NOL carryback eliminates or reduces a

it were due to a math or clerical error on the

NOL carryback.

prior year foreign tax credit, you may not use

return.

Any credits based on or limited by the tax

Form 1045 to carry the released foreign tax

must be refigured using your tax liability

credits to earlier years. Also, if the released

Form 1040X or Other Amended

determined after you apply the NOL carryback.

foreign tax credits result in the release of

Return

general business credits, you may not use

See Pub. 536 for more information and

Form 1045 to carry the released general

examples.

Individuals may get a refund by filing Form

business credits to earlier years. Instead, you

1040X, Amended U.S. Individual Income Tax

must file Form 1040X or other amended return

Line 11—Net Operating Loss

Return, instead of Form 1045. An estate or

to claim refunds for those years. For details,

trust may file an amended Form 1041, U.S.

Deduction After Carryback

see Rev. Rul. 82-154, 1982-2 C.B. 394.

Income Tax Return for Estates and Trusts.

Use the following rules to figure the tax years

Generally, you must file an amended return no

Lines 10 Through

to which you must carry the NOL shown on

later than 3 years after the due date of the

Schedule A, line 27. If an NOL is not fully

return for the applicable tax year.

28—Computation of Decrease

absorbed in a year to which it is carried,

If you use Form 1040X or other amended

in Tax

complete Schedule B to figure the amount to

return, follow the instructions for that return.

carry to the next carryback year.

Attach to the amended return a copy of

Use one pair of columns to enter amounts

General rule. You generally must carry back

Schedule A of Form 1045 showing the

before and after carryback for each year to

the entire NOL to the 2nd tax year before the

computation of your NOL and, if applicable, a

which the loss is being carried. Start with the

loss year. Any loss not used in the 2nd

copy of Schedule B of Form 1045 showing the

earliest carryback year. See the instructions for

preceding year is then carried to the 1st

computation of your NOL carryover. Complete

line 11 below to figure the tax years to which

preceding year. Any loss not applied in the 2

a separate Form 1040X or other amended

you may carry the NOL. Use the remaining

preceding years may be carried forward up to

return for each year for which you request an

pairs of columns for each consecutive

20 years.

adjustment.

preceding tax year until the loss is fully

Eligible losses. Any portion of an NOL that is

absorbed. Enter the ordinal number of years

The procedures for Form 1040X and Form

the loss is being carried back and the date the

an eligible loss (defined on page 1) is carried

1045 are different. The IRS is not required to

back to the 3rd tax year before the loss. Any

carryback year ends in the spaces provided in

process your Form 1040X within 90 days.

loss not used in that year is carried to the 2nd

the headers above line 10 for each pair of

However, if we do not process it within 6

and then the 1st preceding year. Any eligible

columns.

months from the date you file it, you may file

loss not applied in the 3 preceding years may

suit in court. If the IRS disallows your claim on

Example. Your tax year is the 2000

be carried forward up to 20 years.

Form 1040X and you disagree with that

calendar year and you are carrying an NOL

determination, you must file suit no later than

back 2 years. You enter “2nd” and “12/31/98”

Only the eligible loss portion of an NOL may

2 years after the date we disallow it.

in the left column header in the spaces

be carried back 3 years.

provided. The column header now reads “2nd

Example. You have a $20,000 NOL of

Additional Information

preceding tax year ended 12/31/98.”

which only $5,000 is an eligible loss. The

For each carryback year, enter in the column

$5,000 eligible loss is carried back 3 years, but

For more details on NOLs, see Pub. 536, Net

labeled “Before carryback” the amounts for the

the remaining $15,000 loss is carried back only

Operating Losses (NOLs) for Individuals,

carryback year as shown on your original or

2 years, although you had modified taxable

Estates, and Trusts.

amended return. If the amounts were

income of more than $5,000 in the 3rd

previously adjusted by you or the IRS, enter the

preceding year.

amounts after adjustment.

Farming losses. To the extent an NOL is a

Specific Instructions

Computation of income, deductions, and

farming loss (defined on page 1), it is carried

credits when the NOL is fully absorbed. To

back to the 5th tax year before the year of the

refigure your tax for the year in which the NOL

loss. Any farming loss not used in that year is

Address

is fully absorbed, refigure any income,

carried to the 4th preceding year and then

deductions, and credits based on or limited to

P.O. box. Enter your box number only if your

applied consecutively forward through the 1st

a percentage of your adjusted gross income.

post office does not deliver mail to your street

preceding year. Any farming loss not applied in

Use your adjusted gross income determined

address.

the 5 preceding years may be carried forward

after you apply the NOL carryback. Amounts to

up to 20 years.

Foreign address. If your address is outside

refigure include:

the United States or its possessions or

Note: You may need to use two Forms 1045

The special allowance for passive activity

territories, enter the information on the line for

to carry back a farming loss. Complete lines 1

losses from rental real estate activities.

“City, town or post office, state, and ZIP code”

through 9 and Schedule A on only one Form

in the following order: city, province or state,

1045. Use this Form 1045 for the earliest

Taxable social security benefits.

and country. Follow the country's practice for

preceding tax years. You must sign this Form

IRA deductions.

entering the postal code. Do not abbreviate the

1045, but do not need to sign the other Form

The student loan interest deduction.

country name.

1045.

Excludable savings bond interest.

Only the farming loss portion of the NOL

The exclusion of amounts received under an

Line 1b—Unused General

may be carried back 5 years.

employer's adoption assistance program.

Example. You operate a farming business

Business Credit

Medical expenses.

and incur an NOL of $50,000 for 2000. $25,000

If you claim a tentative refund based on the

Personal casualty and theft losses.

of the NOL is attributable to income and

carryback of an unused general business

deductions of your farming business; $10,000

Miscellaneous deductions subject to the 2%

credit, attach a detailed computation showing

is attributable to a fire in your personal

limit.

how you figured the credit carryback and a

residence (an eligible loss); and the remaining

Itemized deductions subject to the overall

recomputation of the credit after you apply the

$15,000 is attributable to your spouse's work

limit of section 68.

carryback. Make the recomputation on Form

as an employee. The $25,000 farming loss is

The phaseout of the deduction for personal

3800 (or Form 8844, Empowerment Zone

carried back 5 years; the $10,000 eligible loss

exemptions.

Employment Credit, if applicable) for the tax

is carried back 3 years; and the remaining

The credit for child and dependent care

year of the tentative allowance.

$15,000 loss is carried back 2 years. Any

expenses.

If you filed a joint return (or separate return)

unused portion of this NOL may be carried

The credit for the elderly or the disabled.

forward up to 20 years.

for some but not all of the tax years involved in

figuring the unused credit carryback, special

Education credits.

For a farming loss, you may elect a loss

carryback period of 2 years, instead of 5 years.

The child tax credit.

Page 2

Instructions For Form 1045 - Application For Tentative Refund - 2000 Page 2

Related Articles

Related forms

Related Categories