Fillable Form Fia-40 - Oregon Farm Income Averaging

Clear This Page

NOL means net operating loss and applies to the year of the

over or carryback from other

actual loss. NOLD means net operating loss deduction and

years if you had a NOL in 2009.

applies to the year to which the NOL is carried.

Enter the result here .............................. 5 ___________

6. If there is a loss on your 2009

2008 Taxable Income Worksheet

federal Schedule D, line 21, add

1. Figure the taxable income from

that loss (as a positive amount)

your 2008 tax return without

and your 2009 capital loss carry-

limiting it to -0-. Include any

over to 2010. Subtract from that

NOLD carryovers or carrybacks

sum the amount of the loss on

if you did not have a NOL in

your 2009 federal Schedule D,

2008. Do not include any NOLD

line 16. Enter the result here ................ 6 ___________

carryover or carryback from

7. If you had an NOL for 2009,

other years if you had a NOL

enter it as a positive amount

in 2008. Enter the result here ............... 1 ___________

here. Otherwise, enter the

2. If there is a loss on your 2008

portion (if any) of the NOLD

federal Schedule D, line 21, add

carryovers and carrybacks to

that loss (as a positive amount)

2009 that were not used in 2009

and your 2008 capital loss carry-

and were carried to tax years

over to 2009. Subtract from that

after 2009 as a positive

sum the amount of the loss on your

amount here ........................................... 7 ___________

2008 federal Schedule D, line 16.

8. Add lines 5, 6, and 7. Enter the result

Enter the result here .............................. 2 ___________

here and on Form FIA-40, line 9 ......... 8 ___________

3. If you had an NOL for 2008,

enter it as a positive amount here.

Line 13, 2010 taxable income. If you used FIA to figure your

Otherwise, enter the portion

tax for 2010, enter on line 13 the amount from your 2010 FIA-

(if any) of the NOLD carryovers

40, line 3; FIA-40N, line 8; or FIA-40P, line 6.

and carrybacks to 2008 that were

not used in 2008 and were carried

If your 2010 taxable income was -0- or less, use the worksheet

to tax years after 2008 as a

below to figure the amount to enter on Form FIA-40, line 13.

positive amount here ............................ 3 ___________

2010 Taxable Income Worksheet

4. Add lines 1, 2, and 3.

9. Figure the taxable income from

Enter the result here, and

your 2010 tax return without

on Form FIA-40, line 5 .......................... 4 ___________

limiting it to -0-. Include any

NOLD carryovers or carrybacks

Line 9, 2009 taxable income. If you used FIA to figure your

if you did not have a NOL in 2010.

tax for 2010, enter on line 9 the amount from your 2010 FIA-

Do not include any NOLD carry-

40, line 15. If you used Schedule Z to figure your tax for 2010

over or carryback from other

on FIA-40, FIA-40N, or FIA-40P, enter on line 9 the amount

years if you had a NOL in 2010.

from your 2010 Schedule Z, Computation for Tax Year 2009.

Enter the result here .............................. 9 ___________

If you used Computation A, use the amount on line 9. If you

10. If there is a loss on your 2010

used Computation B, use the amount on line 6. If you used

federal Schedule D, line 21,

Computation C, use the amount on line 3.

add that loss (as a positive

If you used FIA to figure your tax for 2009 but not for 2010,

amount) and your 2010 capital

enter on line 9 the amount from your 2009 FIA-40, line 3;

loss carryover to tax year 2011.

FIA-40N, line 8; or FIA-40P, line 6.

Subtract from that sum the

amount of the loss on your

If your 2009 taxable income was -0- or less, use the worksheet

2010 federal Schedule D,

below to figure the amount to enter on Form FIA-40, line 9.

line 16. Enter the result here ................ 10 __________

2009 Taxable Income Worksheet

11. If you had an NOL for 2010,

5. Figure the taxable income from

enter it as a positive amount

your 2009 tax return without

here. Otherwise, enter the portion

limiting it to -0-. Include any

(if any) of the NOLD carryovers

NOLD carryovers or carrybacks

and carrybacks to 2010 that were

if you did not have a NOL in 2009.

not used in 2010 and were carried

Do not include any NOLD carry-

to tax years after 2010 as a positive

amount here ........................................... 11 __________

150-101-160 (Rev. 12-11)

Form Fia-40 - Oregon Farm Income Averaging - 2011 Page 3

Related Articles

Related forms

Related Categories