Instructions For Form 1045 - Application For Tentative Refund

October 1, 2000, you must file a separate Form

Your share of business income from a

The special allowance for passive activity

1045 for each suspension period included in

partnership or an S corporation.

losses from rental real estate activities.

that year.

For more details on business and

Taxable social security benefits.

nonbusiness income and deductions, see Pub.

See When To File on page 1.

IRA deductions.

536.

Excludable savings bond interest.

CAUTION

Line 20—Section 1202 Exclusion

The exclusion of amounts received under an

Signature

employer's adoption assistance program.

Enter as a positive number any gain excluded

The student loan interest deduction.

under section 1202 on the sale or exchange

Individuals. Sign and date Form 1045. If Form

of qualified small business stock.

For purposes of figuring the adjustment to

1045 is filed jointly, both spouses must sign.

each of these items, your adjusted gross

Estates. All executors or administrators must

income is increased by the total of the amounts

Schedule B—Net Operating

sign and date Form 1045.

on line 3 and line 4. Do not take into account

Loss Carryover

Trusts. The fiduciary or an authorized

any NOL carryback from 2000 or later.

representative must sign and date Form 1045.

Complete and file this schedule to determine

Generally, figure the adjustment to each

your NOL deduction for each carryback year

item of income or deduction in the order listed

Schedule A—Net Operating

above and, when figuring the adjustment to

and the amount to be carried forward, if not

Loss (NOL)

each subsequent item, increase or decrease

fully absorbed.

adjusted gross income by the total adjustments

If your NOL is more than the modified

Complete and file this schedule to determine

you figured for the previous items. However, a

taxable income for the earliest year to which it

the amount of your NOL that is available for

special rule applies if you received social

is carried, you must file Schedule B to figure

carryback or carryover.

security benefits and deducted IRA

the amount of the NOL to be carried to the next

contributions. Use the worksheets in Pub. 590,

Line 9—Nonbusiness Deductions

tax year. The amount of the carryover is the

Individual Retirement Arrangements (IRAs), to

excess, if any, of the NOL carryback over the

Enter as a positive number deductions that are

refigure your taxable social security benefits

modified taxable income for that earlier year.

not connected with a trade or business. They

and IRA deductions under the special rule.

Modified taxable income is the amount you

include:

entered on line 8 of Schedule B.

Enter on line 5 the total adjustments made

IRA deductions.

to the listed items. Attach a computation

If you carry two or more NOLs to a tax

Deductions for payments on behalf of a

showing how you figured the adjustments.

year, figure your modified taxable

self-employed individual to a SEP, SIMPLE, or

income by deducting the NOLs in the

Line 6—Adjustment to Itemized

CAUTION

qualified plan.

order in which they were incurred. First, deduct

Deductions

Alimony.

the NOL from the earliest year, then the NOL

Most itemized deductions (except for

Individuals. Skip this line if, for the applicable

from the next earliest year, etc. After you

carryback year:

casualty and theft losses and any employee

deduct each NOL, there will be a new, smaller

business expenses).

1. You did not itemize deductions or

modified taxable income to compare to any

The standard deduction.

remaining NOL.

2. The amounts on Schedule B, line 3 and

Do not enter business deductions on line

line 4, are zero.

Make the same entries in each column

9. These are deductions that are connected

Otherwise, complete lines 10 through 34 and

heading as on page 1 of Form 1045 (see Lines

with a trade or business. They include:

enter on line 6 the amount from:

10 through 28—Computation of Decrease in

Tax on page 2).

Line 34 or

State income tax on business profits.

Line 12 of the worksheet on page 6,

Moving expenses.

Line 2

whichever applies.

The deduction for one-half of

Do not take into account on this line the NOL

Estates and trusts. Recompute the

self-employment tax.

carryback from the 2000 tax year or any later

miscellaneous itemized deductions shown ( or

Rental losses.

tax year. However, do take into account NOLs

as previously adjusted) on Form 1041, line 15b,

Loss on the sale or exchange of business

that occurred in tax years before 2000 and are

and any casualty or theft losses shown (or as

real estate or depreciable property.

otherwise allowable as carrybacks or

previously adjusted) on Form 4684, Casualties

Your share of a business loss from a

carryovers.

and Thefts, line 18, by substituting modified

partnership or an S corporation.

Note: If your taxable income is shown as zero

adjusted gross income (see below) for the

Ordinary loss on the sale or exchange of

on your tax return (or as previously adjusted)

adjusted gross income of the estate or trust.

section 1244 (small business) stock.

for any carryback year, refigure it without

Subtract the recomputed deductions and

limiting the result to zero, and enter it on line

losses from the deductions and losses

Ordinary loss on the sale or exchange of

2 as a negative number.

previously shown, and enter the difference on

stock in a small business investment company

line 6.

operating under the Small Business Investment

Line 3—Net Capital Loss Deduction

Act of 1958.

Modified adjusted gross income for

Individuals. Enter as a positive number the

estates and trusts. For purposes of figuring

Loss from the sale of accounts receivable if

amount, if any, shown (or as previously

miscellaneous itemized deductions subject to

such accounts arose under the accrual method

adjusted) on Schedule D (Form 1040), line 18

the 2% limit, figure modified adjusted gross

of accounting.

(line 19 for 1990 and 1993–96; line 20 for

income by adding the following amounts to the

If you itemized your deductions, casualty and

1992).

adjusted gross income previously used to

theft losses (even if they involve nonbusiness

figure these deductions.

Estates and trusts. Enter as a positive

property) and employee business expenses

number the amount, if any, shown (or as

1. The total of the amounts from lines 3

(such as union dues, uniforms, tools, and

previously adjusted) on Schedule D (Form

through 5 of Form 1045, Schedule B,

educational expenses).

1041), line 17 (line 18 for 1990–96).

2. The exemption amount shown (or as

Line 10—Nonbusiness Income Other

previously adjusted) on Form 1041, line 20 (line

Line 4—Section 1202 Exclusion

Than Capital Gains

21 for 1997), and

Enter as a positive number any gain excluded

3. The income distribution deduction shown

Enter income that is not from a trade or

under section 1202 on the sale or exchange

business. Examples are dividends, annuities,

(or as previously adjusted) on Form 1041,

of qualified small business stock.

and interest on investments.

line 18.

For purposes of figuring casualty or theft

Do not enter business income on line 10.

Line 5—Adjustments to Adjusted

losses, figure modified adjusted gross income

This is income from a trade or business and

Gross Income

by adding the total of the amounts from lines

includes:

If you entered an amount on line 3 or line 4,

3 through 5 of Form 1045, Schedule B, to the

Salaries and wages.

you must refigure certain income and

adjusted gross income previously used to

Rental income.

deductions based on adjusted gross income.

figure these losses.

Gain on the sale or exchange of business

These are:

real estate or depreciable property.

Page 4

Instructions For Form 1045 - Application For Tentative Refund - 2000 Page 4

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