TAXABLE YEAR
Net Operating Loss (NOL) Computation and NOL and
CALIFORNIA FORM
1998
3805V
Disaster Loss Limitations – Individuals, Estates and Trusts
Attach to your California tax return.
Social security number
Name(s) as shown on return
FEIN
PART I
Computation of Current Year NOL. If you do not have a current year NOL, go to Part II.
Section A — Individuals, Estates and Trusts
1 Adjusted gross income from 1998 Form 540, line 17 or 1998 Form 540NR, line 17. If negative, use brackets.
Estates and trusts, begin on line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
(
)
2 Itemized deductions or standard deduction from 1998 Form 540, line 18 or 1998 Form 540NR, line 18 . . . . . . . . . . . . .
2
3 a Combine line 1 and line 2. (Estates and trusts, enter taxable income, see instructions.) If negative, use brackets.
If positive, enter -0- here and on line 20 and do not complete the rest of Part I; you do not have a current year NOL.
Complete Part II and Part III if you have a carryover from prior years. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3a
b 1998 disaster loss included in line 3a. Enter as a positive number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3b
c Combine line 3a and line 3b. If negative, use brackets and continue to line 4. If zero or more, do not complete the
the rest of Part I. Enter the amount from line 3b, if any, in Part III, line 3, column (d) and complete
Part II and Part III as instructed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3c
Note: Enter amounts on line 4 through line 19 as if they were all positive numbers. See instructions.
4 Nonbusiness capital losses. . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5 Nonbusiness capital gains . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
6 If line 4 is more than line 5, enter the difference; otherwise, enter -0- . . . . . . . . . . . . . . . . .
6
7 If line 4 is less than line 5, enter the difference; otherwise, enter -0- . . . . . . . . . . . . . . . . . .
7
8 Nonbusiness deductions . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9 Nonbusiness income other than capital gains . . . . . . . . . . . . . . . . .
9
10 Add line 7 and line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
11 If line 8 is more than line 10, enter the difference; otherwise, enter -0-
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
12 If line 8 is less than line 10, enter the difference; otherwise, enter -0-. . . .
12
13 Business capital losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13
14 Business capital gains . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14
15 Add line 12 and line 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15
16 If line 13 is more than line 15, enter the difference; otherwise, enter -0- . . . . . . . . . . . . . . . .
16
17 Add line 6 and line 16. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
18 NOL and disaster loss carryovers from prior years. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18
19 Add line 11, line 17 and line 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19
20 Combine line 3c and line 19. If more than zero, enter -0-. You do not have a current year NOL to carryover . . . . . . . . .
20
21 Enter as a positive number the amount from line 20 that represents losses incurred by a new business and/or
an eligible small business. Do not enter more than the amount on line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21
22 Decrease the loss on line 20 by the amount on line 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22
23 General NOL. Multiply line 22 by 50% (.50) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
23
24 1998 NOL carryover. Add line 21 and line 23. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24
Section B — Nonresidents and Part-Year Residents Only — Computation of Current Year California NOL
Do not complete this section if line 20 is zero.
Note: Enter amounts on line 25 through line 30 as if they were all positive numbers.
25 Enter the NOL from all sources from line 20 above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25
26 Enter the California adjusted gross income from 1998 Form 540NR, line 20 if it is a loss. If it is not a loss,
you do not have a California NOL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26
27 California source NOL amount from 1998 Schedule CA (540NR), line 21d, column B, plus net capital
loss from 1998 Schedule CA (540NR), line 13, column E. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27
28 If line 26 is more than line 27, enter the difference; otherwise, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28
29 Enter the smaller of line 25 or line 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29
30 Enter as a positive number the amount from line 29 that represents losses incurred by a new business and/or
an eligible small business. Do not enter more than the amount on line 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30
31 Subtract line 30 from line 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
31
32 General NOL. Multiply line 31 by 50% (.50) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
32
33 1998 NOL carryover. Add line 30 and line 32. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33
3805V98109
FTB 3805V 1998 Side 1