Instructions For Form 1045 - 2003 (Page 5 of 8) in pdf

could claim you as a dependent on

(3 years if the credit arose in a tax

Line 9—Nonbusiness

their return, enter zero if you were

year beginning before 1998). See

Deductions

single. If you were married, see Form

section 39 and the instructions for

Enter as a positive number

1040EZ for the year in question and

Form 3800 for more details on

deductions that are not connected

complete the worksheet on the back

general business credit carrybacks.

with a trade or business. They

of that form. Next, enter the amount

include:

Line 21—Other Credits

from line F of that worksheet on line

•

IRA deductions.

15 of Form 1045 in the column

•

See your tax return for the carryback

Archer MSA deduction.

labeled “Before carryback” for the

year for any additional credits such as

•

Deductions for payments on behalf

applicable year. If no one could claim

the earned income credit, credit for

of a self-employed individual to a

you as a dependent, enter the

child and dependent care expenses,

SEP, SIMPLE, or qualified plan.

amount listed above for that year.

•

child tax credit, education credits,

Alimony paid.

Estates and trusts. Enter in the

•

foreign tax credit, retirement savings

Most itemized deductions (except

columns labeled “Before carryback”

contributions credit, etc., that will

for casualty and theft losses and any

and “After carryback” for each

apply in that year. If you make an

employee business expenses).

applicable carryback year the amount

•

entry on this line, identify the credit(s)

The standard deduction.

shown (or as previously adjusted) on

claimed.

Do not enter business deductions

Form 1041, line 20 (line 21 for 1997).

on line 9. These are deductions that

Line 24—

Line 17—Income Tax

are connected with a trade or

Self-Employment Tax

business. They include:

Refigure your tax for each carryback

•

State income tax on business

year after taking into account the

Do not adjust self-employment tax

profits.

NOL or net section 1256 contracts

because of any carryback.

•

Educator expenses.

loss carryback. Include any tax from

•

Moving expenses.

Line 25—Other Taxes

Form 4970, Tax on Accumulation

•

The deduction for one-half of

Distribution of Trusts, and Form

See your tax return for the carryback

self-employment tax.

4972, Tax on Lump-Sum

•

year for any other taxes not

Rental losses.

Distributions. Attach any schedule

•

mentioned above, such as recapture

Loss on the sale or exchange of

used to figure your tax or an

taxes, tax on an IRA, etc., that will

business real estate or depreciable

explanation of the method used to

apply in that year. If you make an

property.

figure the tax and, if necessary, a

•

entry on this line, identify the taxes

Your share of a business loss from

detailed computation.

that apply.

a partnership or an S corporation.

•

For example, write “Tax Rate

Ordinary loss on the sale or

Line 29—Overpayment

Schedule – 2001” if this is the method

exchange of section 1244 (small

used for that year. You do not need

business) stock.

of Tax Under Section

•

to attach a detailed computation of

Ordinary loss on the sale or

the tax in this case.

1341(b)(1)

exchange of stock in a small business

investment company operating under

If you apply for a tentative refund

Line 18—Alternative

the Small Business Investment Act of

based on an overpayment of tax

1958.

Minimum Tax

under section 1341(b)(1), enter it on

•

Loss from the sale of accounts

this line. Also, attach a computation

The carryback of an NOL or net

receivable if such accounts arose

showing the information required by

section 1256 contracts loss may

under the accrual method of

Regulations section 5.6411-1(d).

affect your alternative minimum tax.

accounting.

Individuals use Form 6251 to figure

•

If you itemized your deductions,

Signature

this tax. Estates and trusts use

casualty and theft losses (even if they

Schedule I (Form 1041) (Schedule

Individuals. Sign and date Form

involve nonbusiness property) and

H for 1993 – 1994).

1045. If Form 1045 is filed jointly,

employee business expenses (such

both spouses must sign.

as union dues, uniforms, tools, and

Line 20—General

educational expenses).

Estates. All executors or

Business Credit

administrators must sign and date

Line 10—Nonbusiness

Form 1045.

Enter in the column labeled “After

Income Other Than Capital

Trusts. The fiduciary or an

carryback” for each affected

Gains

authorized representative must sign

carryback year the total of the

and date Form 1045.

recomputed general business credits,

Enter income that is not from a trade

or business. Examples are ordinary

using Form 3800, 8844, or 8884.

Schedule A—NOL

dividends, annuities, and interest on

If an NOL or net section 1256

investments.

contracts loss carryback eliminates or

Complete and file this schedule to

reduces a general business credit in

determine the amount of the NOL that

Do not enter business income on

an earlier year, you may be able to

is available for carryback or

line 10. This is income from a trade or

carry back the released credit 1 year

carryover.

business and includes:

-5-

Instructions For Form 1045 - 2003 Page 5

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