Instructions For Form 1045 - 2003 printable pdf download

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Department of the Treasury

Internal Revenue Service

Instructions for Form 1045

Application for Tentative Refund

Section references are to the Internal Revenue Code unless otherwise noted.

For a small business (as defined in

Be sure to file your 2003

General Instructions

section 172(b)(1)(F)(iii)), an eligible

income tax return no later

loss is any loss attributable to a

than the date you file Form

CAUTION

A Change To Note

Presidentially declared disaster (as

1045.

defined in section 1033(h)(3)).

The carryback period for most net

If you carry back any portion of an

operating losses (NOLs) has been

NOL or an unused general business

A farming loss is not an eligible

changed from 5 years to 2 years.

credit to tax years before the 3 years

loss.

preceding the 2003 tax year, you may

Purpose of Form

Farming loss. A farming loss is the

need to use additional Forms 1045.

smaller of:

Complete lines 1 through 9 and

Form 1045 is used by an individual,

•

The amount that would be the NOL

Schedule A on only one Form 1045.

estate, or trust to apply for a quick tax

for the tax year if only income and

Use this Form 1045 for the earliest

refund resulting from:

•

deductions attributable to farming

preceding tax years. You must sign

The carryback of an NOL,

businesses (as defined in section

this Form 1045, but do not need to

•

The carryback of an unused

263A(e)(4)) were taken into account

sign the other Forms 1045.

general business credit,

•

The carryback of a net section

•

Where To File

The NOL for the tax year.

1256 contracts loss, or

•

File Form 1045 with the Internal

Specified liability loss. Generally, a

An overpayment of tax due to a

Revenue Service Center for the place

specified liability loss is a loss arising

claim of right adjustment under

where you live as shown in the

section 1341(b)(1).

from:

instructions for your 2003 income tax

•

Product liability or

return.

Waiving the carryback period. You

•

An act (or failure to act) that

may elect to carry an NOL forward

Do not include Form 1045 in

occurred at least 3 years before the

only, instead of first carrying it back.

the same envelope as your

beginning of the loss year and

To make this election for an NOL

2003 income tax return.

resulted in a liability under a Federal

CAUTION

incurred in your 2003 tax year, attach

or state law requiring:

to your 2003 tax return filed on or

What To Attach

1. Reclamation of land,

before the due date (including

2. Dismantling of a drilling

extensions) a statement that you are

Attach copies of the following, if

platform,

electing under section 172(b)(3) to

applicable, to Form 1045 for the year

relinquish the entire carryback period

of the loss or credit:

3. Remediation of environmental

•

for any 2003 NOL. If you filed your

If you are an individual, pages 1

contamination, or

return on time without making the

and 2 of your 2003 Form 1040 and

4. Payment under any workers

election, you may still make the

Schedules A, D, and J (Form 1040),

compensation act.

election on an amended return filed

if applicable.

•

within 6 months of the due date of the

Any Form 4952, Investment

Any loss from a liability arising

return (excluding extensions). Attach

Interest Expense Deduction, attached

from 1 through 4 above may be taken

the election to the amended return,

to your 2003 income tax return.

into account as a specified liability

•

and write “Filed pursuant to section

All Schedules K-1 you received

loss only if you used an accrual

301.9100-2” on the election

from partnerships, S corporations,

method of accounting throughout the

statement. File the amended return at

estates, or trusts that contribute to the

period in which the act (or failure to

the same address you used for your

carryback.

act) occurred. For details, see section

•

original return. Once made, the

Any application for extension of

172(f).

election is irrevocable.

time to file your 2003 income tax

return.

When To File

•

All Forms 8271, Investor Reporting

Definitions

You must file Form 1045 within 1 year

of Tax Shelter Registration Number,

Eligible loss. For an individual, an

after the end of the year in which an

attached to your 2003 income tax

eligible loss is any loss of property

NOL, unused credit, a net section

return.

•

arising from fire, storm, shipwreck,

1256 contracts loss, or claim of right

All Forms 8886, Reportable

other casualty, or theft.

adjustment arose.

Transaction Disclosure Statement,

Cat. No. 13666W

Instructions For Form 1045 - 2003

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