Instructions For Form Fia-40n, Form Fia-40p, And Schedule Z, For Farm Income Averaging

Oregon (b)

Federal (a)

sum the amount of the

portion (if any) of the

loss on your 2001 federal

NOLD carryovers and

Schedule D, line 17. Enter

carrybacks to 2002 that

the result here .................................................... $ ________

were not used in 2002 and

18. If you had an NOL for 2001,

were carried to tax years

enter it as a positive amount

after 2002 ....................................... $ ________ $ ________

here. Otherwise, enter the

24. Add lines 22 and 23 ..................... $ ________ $ ________

portion (if any) of the NOLD

25. Add line 21 and line

carryovers and carrybacks to

24. Enter the result here

2001 that were not used in

and on your 2003 Schedule

2001 and were carried to tax

Z, tax year 2002, Compu-

years after 2001 as a positive

tation A or B, line 1 ...................... $ ________ $ ________

amount here ...................................................... $ ________

19. Add lines 17 and 18 .......................................... $ ________

Full Year Return for 2002

20. Add line 16 and line 19.

26. Figure the taxable income

Enter the result here, and on

from your 2002 tax return

your 2003 Schedule Z, tax year

without limiting it to -0-.

2001, Computation C, line 1 ............................. $ ________

Include any NOLD carry-

2002 Taxable Income Worksheet

overs or carrybacks if you

did not have a NOL in

Part-Year or Nonresident Return for 2002

2002. Do not include any

21. Figure income after sub-

NOLD carryover or carry-

tractions for either federal

back from other years if

or Oregon, or both, from

you had a NOL in 2002.

your 2002 Form 40P or

Enter the result here ......................................... $ ________

Form 40N without limiting

27. If there is a loss on your

it to -0-. Include any NOLD

2002 federal Schedule D,

carryovers or carrybacks if

line 18, add that loss (as a

you did not have a NOL in

positive amount) and your

2002. Do not include any

2002 capital loss carryover

NOLD carryover or carry-

to 2003. Subtract from that

backfrom other years if

you had aNOL in 2002.

sum the amount of the loss

Enter the result here .................... $ ________ $ ________

on your 2002 federal

22. You must make an addi-

Schedule D, line 17. Enter

tional computation if you

the result here .................................................... $ ________

have a capital loss in either

28. If you had an NOL for

or both columns on Form

2002, enter it as a positive

40P or Form 40N. If there

amount here. Otherwise,

is a loss on your 2002

enter the portion (if any)

federal Schedule D, line 18,

of the NOLD carryovers

add that loss (as a positive

and carrybacks to 2002

amount) and your 2002

that were not used in

capital loss carryover to

2002 and were carried to

tax year 2003. Subtract from

tax years after 2002 as a

that sum the amount of the

positive amount here ....................................... $ ________

loss on your 2002 federal

29. Add lines 27 and 28 .......................................... $ ________

Schedule D, line 17. Enter

30. Add line 26 and line

the result here ............................... $ ________ $ ________

29. Enter the result here,

23. If you had an NOL for 2002

and on your 2003 Schedule Z,

for federal only, enter it as a

tax year 2002, Computation

positive amount in the

C, line 1 .............................................................. $ ________

federal column. If you had

an NOL for 2002 for both

Example: John Farmington owns a farm in Ontario,

federal and Oregon, enter

Oregon but is a resident of Idaho. John files as a nonresi-

it in both columns as a

dent for Oregon each year. John did not use farm income

positive amount. If you

averaging for 2000, 2001, or 2002. For tax year 2003, John

had an NOL for Oregon

has elected farm income of $18,000 on line 2 of Form FIA-

only, enter it as a positive

amount in the Oregon

40N. His 2000 income after subtractions shown on line 39

column. Otherwise, enter

of Form 40N is $25,906 in the federal column and $6,150

in the Oregon column.

as a positive amount the

Instructions For Form Fia-40n, Form Fia-40p, And Schedule Z, For Farm Income Averaging - 2003 Page 3

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