Form N-109 - Application For Tentative Refund From Carryback Of Net Operating Loss Page 2
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4FORM N-109
(REV. 2015)
Schedule A (Form N-109)—Computation of Net Operating Loss
1 Adjusted gross income from Form N-11 or N-15 (Form N-15 filers, see Instructions) (estates and trusts, start on line 3) . . . . . . . . . . . . . . .
1
2 Deductions (applies to individuals only):
a Enter the amount of your total itemized deductions OR
standard deduction from Form N-11 or N-15 (Form N-15 filers, see Instructions) . . .
2a
b Exemptions (see Instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2b
(
)
c Add lines 2a and 2b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2c
3 Combine lines 1 and 2c (estates and trusts, enter your taxable income) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Note: If line 3 is zero or more, do not complete the rest of the schedule. You do not have a net operating loss.
Adjustments:
4 Exemptions from line 2b above (estates and trusts, enter exemption from
your tax return) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5 a Enter the excess of your nonbusiness capital losses
over your nonbusiness capital gains . . . . . . . . . . . . . 5a
b Enter the excess of your business capital losses
over your business capital gains plus nonbusiness
capital gains not used in figuring line 8c . . . . . . . . . . 5b
c Enter total of lines 5a and 5b but not more than your capital loss limitation . . . . . . .
5c
6 a Enter the amount of interest income from Hawaii or
any of the Hawaii counties’ obligations . . . . . . . . . . . . 6a
b Enter the amount of interest expense related to
income not taxable by Hawaii . . . . . . . . . . . . . . . . . . 6b
c Line 6a minus line 6b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6c
7 Net operating loss deduction from other years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
8 a Nonbusiness deductions (attach supporting documentation) . . . 8a
b Nonbusiness income plus the excess of your
nonbusiness capital gains over your nonbusiness
capital losses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8b
c Line 8a minus line 8b. If 8b is more than 8a, enter zero . . . . . . . . . . . . . . . . . . . . .
8c
9 Add lines 4, 5c, 6c, 7 and 8c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
10 Combine lines 3 and 9. This is your net operating loss. Enter here and on page 1, line 2. (Form N-15 filers, do not
enter on page 1, line 2. You must file an amended return on Form N-15 to carry back your net operating loss.) . . . . . . . . . .
10
Caution: If the amount to be entered on line 10 is zero or more, you do not have a net operating loss.
Instructions for Schedule A (Form N-109) — Computation of Net Operating Loss
Use this schedule to figure your net op-
NOL, enter your Hawaii itemized deductions from
Rental income or loss is business income or
erating loss (NOL) that is available for carry-
Form N-15.
loss.
back or carryforward.
Line 2b.—Enter the amount of your personal
Loss on the sale of accounts receivable, if
Note: If you are a nonresident or part-year
exemptions from Form N-11 or N-15.
such accounts arose under the accrual method
resident (Form N-15 filer), you cannot file Form
of accounting in your business, is included as a
Line 5.—If your business capital gains plus
N-109. However, you may use this schedule to
business deduction.
your nonbusiness capital gains not used in figur-
figure your NOL that is available for carryback
ing line 8c exceed your business capital losses,
Casualty losses and theft losses are consid-
or carryforward. You will need to figure two NOL
enter zero on line 5b. If you have a net capital
ered attributable to your trade or business. This
amounts: (1) Your Total NOL (for Form N-15,
loss for the year, do not include in line 5c your net
is true even if it involves nonbusiness property.
Column A), and (2) Your Hawaii NOL (for Form
capital loss not allowed this year because of the
Your proportionate share of a partnership’s
N-15, Column B). Therefore, you should com-
capital loss limitation. For more information, see
income or loss is considered business income or
plete the above schedule twice. First, complete
federal regulations section 1.172-3.
loss.
the schedule using amounts from Column A of
Line 8a and b.—Nonbusiness income and
Losses on stock in small business corpora-
your Form N-15. Next, complete the schedule us-
deductions are those not connected with a trade
tions which qualify as ordinary losses are busi-
ing amounts from Column B of your Form N-15.
or business. For example:
ness losses.
Line 1.—Individuals, enter your adjusted
Your standard deduction is a nonbusiness
Shareholders of an electing small business
gross income.
deduction.
corporation (S Corporation) see Internal Rev-
Form N-15 filers: When computing your Total
Itemized deductions, if elected, are usually
enue Code section 1366, for tax treatment of
NOL, enter your Total adjusted gross income
nonbusiness, except for state income taxes re-
pass-thru items to shareholders.
from Form N-15, Column A. When computing
lated to a trade or business, casualty loss de-
Loss resulting from the sale or exchange of
your Hawaii NOL, enter your Hawaii adjusted
ductions, and any employee business expenses
small business investment company stock which
gross income from Form N-15, Column B.
such as union dues, uniforms, tools and educa-
qualifies as an ordinary loss, is considered as a
Line 2a.—Individuals, enter your itemized
tional expenses.
loss attributable to your trade or business.
deductions, after any limitations, or standard de-
Salaries and wages you received are trade or
The deduction allowed for payment made by
duction.
business income.
a self-employed person to a retirement plan is
Form N-15 filers who itemized deductions: When
Gain or loss on sale or other disposition of
treated as a nonbusiness deduction.
computing your Total NOL, enter your total
real or depreciable property used in your trade or
Note: Nonbusiness income does not include
itemized deductions calculated as if you were a
business is considered business income or loss.
pensions, social security benefits, and other in-
full-year resident. When computing your Hawaii
come that is exempt from Hawaii income tax.
Page 2
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