Instructions For Form 1045 - 2004 Page 8
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8Itemized Deductions Limitation Worksheet—See the instructions for line 34 on page 7 (keep for your records)
Enter applicable carryback year
1.
Add the amounts from Form 1045,
Schedule B, lines 16, 22, 27, and 32, and
the amounts from Schedule A (Form 1040),
*
lines 9, 14, and 27
(lines 9, 14, 27, and 28
for 1994) (or as previously adjusted)
2.
Add the amounts from Form 1045,
Schedule B, lines 16 and 27; Schedule A
* ,
(Form 1040), line 13
and any gambling
losses included on Schedule A (Form
*
1040), line 27
(line 28 for 1994) (or as
previously adjusted)
3.
Subtract line 2 from line 1. If the result is
zero or less, stop here; combine the
amounts from Form 1045, Schedule B,
lines 17, 23, 28, and 33, and enter the result
on line 34 and line 6 of Form 1045,
Schedule B
4.
Multiply line 3 by 80% (.80)
5.
Enter the amount from Form 1045,
Schedule B, line 18
6.
Enter:
● $111,800 for 1994 ($55,900 if married
filing separately);
● $114,700 for 1995 ($57,350 if married
filing separately);
● $117,950 for 1996 ($58,975 if married
filing separately);
● $121,200 for 1997 ($60,600 if married
filing separately);
● $124,500 for 1998 ($62,250 if married
filing separately);
● $126,600 for 1999 ($63,300 if married
filing separately);
● $128,950 for 2000 ($64,475 if married
filing separately);
● $132,950 for 2001 ($66,475 if married
filing separately);
● $137,300 for 2002 ($68,650 if married
filing separately);
● $139,500 for 2003 ($69,750 if married
filing separately).
7.
Subtract line 6 from line 5
8.
Multiply line 7 by 3% (.03)
9.
Enter the smaller of line 4 or line 8
10.
Subtract line 9 from line 1
11.
Total itemized deductions from Schedule A
*
(Form 1040), line 28
(line 29 for 1994) (or
as previously adjusted)
12.
Subtract line 10 from line 11. Enter the
difference here and on line 6 of Form 1045,
Schedule B
*
If you filed Form 1040-T in 1995, use the amounts from the appropriate lines.
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