Instructions For Form 1045 - Application For Tentative Refund

Line 27—Net Investment

more information about taxable income

union dues, uniforms, tools, and

and NOLs.

educational expenses).

Income Tax

Line 2—Nonbusiness Capital

Line 7—Nonbusiness Income

Enter in the column labeled “After

Losses

Other Than Capital Gains

carryback” for each affected carryback

year any refigured Net Investment

Don't include on this line any section

Enter income that isn't from a trade or

Income Tax (NIIT) using Form 8960 for

1202 exclusion amounts (even if

business. Examples are ordinary

the applicable carryback year. See

entered as a loss on Schedule D (Form

dividends, annuities, and interest on

section 1411 and the related regulations

1041)).

investments.

for information on the use of an NOL for

Line 6—Nonbusiness

NIIT purposes.

Don't enter business income on

Deductions

line 7. This is income from a trade or

Line 28—Health Care:

business and includes:

Enter as a positive number deductions

Individual Responsibility

Salaries and wages,

that aren't connected with a trade or

Self-employment income,

business. They include:

Enter in the column labeled “After

Unemployment compensation,

IRA deductions;

carryback” for each affected carryback

Rental income,

Health savings account deduction;

year any refigured shared responsibility

Gain on the sale or exchange of

Archer MSA deduction;

payment using the Shared

business real estate or depreciable

Deductions for payments on behalf of

Responsibility Payment Worksheet in

property, and

a self-employed individual to a SEP,

the Instructions for Form 8965 for the

Your share of business income from a

SIMPLE, or qualified plan;

applicable carryback year. For

partnership or an S corporation.

Alimony paid;

information on health care coverage

Most itemized deductions (except for

exemptions or calculating a shared

For more details on business and

casualty and theft losses, any employee

responsibility payment, see the

nonbusiness income and deductions,

business expenses, and state income

Instructions for Form 8965.

see Pub. 536.

tax on trade or business income); and

Line 29—Other Taxes

Line 17—Section 1202

Standard deduction.

Exclusion

See your tax return for the carryback

Don't include on line 6 the deduction

year for any other taxes not mentioned

Enter as a positive number any gain

for personal exemptions for you, your

above, such as recapture taxes, tax on

excluded under section 1202 on the

spouse, or your dependents.

an IRA, etc., that will apply in that year.

sale or exchange of qualified small

If you make an entry on this line, identify

business stock.

Don't include on line 6 any business

the taxes that apply.

deductions. These are deductions that

Schedule B—NOL

are connected with a trade or business.

Line 33—Overpayment of

Carryover

They include:

Tax Under Section 1341(b)

State income tax on income

Complete and file this schedule to

(1)

attributable to trade or business

determine the NOL deduction for each

(including wages, salary, and

carryback year and the amount to be

If you apply for a tentative refund based

unemployment compensation);

carried forward, if not fully absorbed.

on an overpayment of tax under section

Educator expenses;

Make the same entries in each column

1341(b)(1), enter it on this line. Also,

Moving expenses;

heading as on page 1 of Form 1045

attach a computation showing the

The deduction for the deductible part

(see the instructions for

Lines 10

information required by Reg. section

of self-employment tax;

Through

32, earlier).

5.6411-1(d).

Domestic production activities

deduction;

In most cases, if an NOL is more than

Signature

Rental losses;

the modified taxable income for the

Loss on the sale or exchange of

earliest year to which it is carried, you

Individuals. Sign and date Form 1045.

business real estate or depreciable

must file Schedule B to figure the

If Form 1045 is filed jointly, both

property;

amount of the NOL to be carried to the

spouses must sign.

Your share of a business loss from a

next tax year. The amount of the

Estates. All executors or administrators

partnership or an S corporation;

carryback is in most cases the excess, if

must sign and date Form 1045.

Ordinary loss on the sale or

any, of the NOL carryback over the

exchange of section 1244 (small

Trusts. The fiduciary or an authorized

modified taxable income for that earlier

business) stock;

representative must sign and date Form

year. Modified taxable income is the

Ordinary loss on the sale or

1045.

amount figured on line 9 of Schedule B.

exchange of stock in a small business

If you carry two or more NOLs to

Schedule A—NOL

investment company operating under

a tax year, figure your modified

the Small Business Investment Act of

Complete and file this schedule to

taxable income by deducting

1958;

CAUTION

determine the amount of the NOL that is

the NOLs in the order in which they

Loss from the sale of accounts

available for carryback or carryforward.

were incurred. First, deduct the NOL

receivable if such accounts arose under

from the earliest year, then the NOL

Line 1

the accrual method of accounting; and

from the next earliest year, etc. After

If you itemized your deductions,

For estates and trusts, see the

you deduct each NOL, there will be a

casualty or theft losses (even if they

instructions for Form 1041, line 22, for

new, smaller, modified taxable income

involve nonbusiness property) and

to compare to any remaining NOL.

employee business expenses (such as

-6-

Instructions for Form 1045 (2017)

Instructions For Form 1045 - Application For Tentative Refund - 2017 Page 6

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