Form 3805v - California Net Operating Loss (Nol) Computation And Nol And Disaster Loss Limitations Individuals, Estates, And Trusts - 2014 Page 3

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Section C — Election to Waive Carryback
Check the box if the Individual, Estate, or Trust elects to “relinquish” the entire carryback period with respect to a 2014 NOL under IRC Section 172(b)(3).
By making the election, the Individual, Estate, or Trust is electing to carry an NOL forward instead of carrying it back in the previous two years. Once the
election is made, it is irrevocable. See instructions.
Continue with Part II, Determine 2014 Modified Taxable Income (MTI) and Part III, NOL Carryover and Disaster Loss Carryover Limitations. Do not
complete Part IV, NOL Carryback.
Part II Determine 2014 Modified Taxable Income (MTI). Be sure to read the instructions for Part II.
1
Taxable income. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
00
Enter amounts on line 2 through line 4 as if they were all positive numbers.
2
Capital loss deduction included in line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
00
3
Disaster loss carryover included in line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
00
4
NOL carryover included in line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
00
5
MTI. Combine line 1 through line 4. If line 5 is zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
00
Part III NOL Carryover and Disaster Loss Carryover Limitations. See Instructions.
(g)
Available balance
1
MTI from Part II, line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Prior Year NOLs
(a)
(b)
(c)
(d)
(e)
(f)
(h)
Year of
Code
Type of NOL
Initial loss
Carryover
Amount used
Carryover to 2015
*
loss
See instructions
See below
from 2013
in 2014
col. (e) – col. (f)
2
col. (d) – col. (f)
Current Year NOLs
See Instructions
DIS
3
2014
4
2014
2014
2014
*
Type of NOL: General (GEN), New Business (NB), Eligible Small Business (ESB), or Disaster (DIS).
5
NOL carryover. Add the carryover amounts in column (h) that are not the result of a disaster loss. . . . . . . . . . . . . . . . . . . . . . . . .
5
00
6
Disaster loss carryover. Enter the total loss carryover amounts in column (h) that are the result of disaster losses . . . . . . . . . . . .
6
00
FTB 3805V 2014 Side 3
7533143
For Privacy Notice, get FTB 1131 ENG/SP.

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