Form Mi-1045 - Application For Michigan Net Operating Loss Refund - 2002 Page 3
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MI-1045
Schedule A: Nonbusiness Deductions (For Loss Years Prior
to 1997 Only) Computation for the Amount of Nonbusiness
Deductions that Exceed Nonbusiness Income
For loss year ________ or for loss year beginning __________, _________ and ending __________, __________.
First Name, Middle Initial and Last Name (if joint, use first names and initials of both)
Filer's Social Security Number
.00
1.
Total itemized deductions or standard deduction from MI-1045, page 2, line 16
1.
2.
Less:
.00
a. Casualty or theft loss
2a.
.00
b. State income tax on net income from business
2b.
.00
c. Interest on state and federal taxes attributable to business income
2c.
.00
d. Employee business expenses included in itemized deductions
2d.
e. Other, explain
.00
2e.
.00
3.
Total of lines 2a - e
3.
.00
4.
Subtract line 3 from line 1
4.
5.
Enter any of the following: IRA deduction, self-employed health insurance deduction, self-employed
.00
pension or profit sharing plan deduction, penalty on early withdrawal of savings and alimony paid
5.
.00
6.
Nonbusiness deductions, add lines 4 and 5
6.
7.
Nonbusiness income
.00
a. Interest income
7a.
.00
b. Dividend income
7b.
.00
c. Net gains from sale of assets not used in trade or business
7c.
.00
d. Pension and annuities
7d.
.00
e. Alimony received
7e.
.00
f. Other income
7f.
.00
8.
Total nonbusiness income, add lines 7a - f
8.
9.
Excess of nonbusiness deductions over nonbusiness income, subtract line 8 from line 6, enter here and
.00
on MI-1045, page 2, line 20c. If amount on line 9 is zero or less, enter -0- on MI-1045, page 2, line 20c
9.
Instructions for
Line-by-Line Instructions for Part 1:
Schedule A: Nonbusiness Deductions
Computing the Net Operating Loss
To complete this form, refer to your U.S. 1040 for the year
Use the entries on your U.S. 1040 for the year the loss occurred
the loss occurred. Also, note the following:
to complete Part 1. Do not consider income and losses from other
• Salaries and wages you receive are trade or business income.
states or income and losses from oil and gas.
• Casualty and theft losses are considered attributable to a trade
Line 10: Miscellaneous income includes state and local refunds,
or business, even if they involve nonbusiness property.
unemployment benefits, alimony received and any other
• Your prorated share of a partnership or S corporation income
miscellaneous taxable income.
or loss is business income or loss.
Line 14: Subtract line 13 from line 11. This amount should equal
• Deductions allowed for payment to a Keogh retirement plan
your federal AGI if you have no income or losses from other
and individual retirement arrangements (IRA's) are
states or income and losses from oil and gas.
nonbusiness deductions.
Line 15d, page 2: Contributions cannot be used if AGI is zero or
Line 7f: Include any refund of income taxes on nonbusiness
negative. See federal guidelines for carryover rules.
income included in your federal adjusted gross income (AGI).
Line 19, page 2: If lines 14 and 18 are both negative, combine
the two negative figures to make a larger negative number.
Line 19, page 1 or line 20b, page 2: The excess capital loss
must be calculated on a U.S. 1045 Schedule A, line 24 or 25, then
entered on this line.
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