Form Mi-1045 - Application For Michigan Net Operating Loss Refund - Page 2
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32014 MI-1045, Page 2
Filer’s Full Social Security Number
Application for Refund From Carryback of Net Operating Loss
A
B
C
PART 2: REDETERMINING MICHIGAN INCOME TAX
23. Year to which NOL is being carried back .......................................
24. Reported federal AGI for the year indicated on line 23 .................
00
00
00
25. Additions from MI-1040, Schedule 1 and DPAD. Explain: ______
___________________________________________________
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26. Balance. Add lines 24 and 25 ........................................................
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27. Subtractions from MI-1040, Schedule 1. Explain: ____________
___________________________________________________
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28. Balance. Subtract line 27 from line 26 ...........................................
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29. Enter Net Operating Loss from line 22 ..........................................
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30. Balance. Subtract line 29 from line 28 ...........................................
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31. Michigan exemption allowance......................................................
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32. Taxable balance. Subtract line 31 from line 30 .............................
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33. Tax. Multiply line 32 by tax rate of carryback year.
If less than zero, enter “0”..............................................................
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34. Nonrefundable tax credits..............................................................
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35. Tax due. Subtract line 34 from line 33.
If less than zero, enter “0”..............................................................
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36. a. Refundable tax credits ...............................................................
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b. Tax withheld ...............................................................................
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c. Tax paid with prior returns ..........................................................
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d. Estimated tax payments ............................................................
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37. Total of items 36a through 36d ......................................................
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38. Tax previously refunded or carried to next year.............................
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39. Balance of tax paid. Subtract line 38 from line 37 .........................
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40. Overpayment. Subtract line 35 from line 39 ..................................
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Preparer Certification.
Taxpayer Certification.
I declare under penalty of perjury that this
I declare under penalty of perjury that the information in this
return is based on all information of which I have any knowledge.
return and attachments is true and complete to the best of my knowledge.
Filer’s Signature
Date
Preparer’s PTIN, FEIN or SSN
Spouse’s Signature
Date
Preparer’s Business Name (print or type)
Preparer’s Business Address (print or type)
By checking this box, I authorize Treasury to discuss my return with my preparer.
Line-by-Line Instructions for Parts 1 and 2
Line 20: Enter as a positive number the domestic production activities
Part 1: Computing Net Operating Loss
deduction (DPAD) as calculated on line 12e.
To complete Part 1, use the entries on your U.S. Form 1040 for the year the loss
Part 2: Redetermining Your Michigan Income Tax
occurred. Do not include income and losses sourced to other states, income
and losses from oil and gas production and nonferrous metallic minerals
Line 25: Include any additions from Michigan Schedule 1. Also include
extraction that are subject to Michigan severance tax, a federal net operating
DPAD attributable to Michigan.
loss deduction (NOLD), or net operating loss deductions (NOLD) from other
Line 27: Include any subtractions from Michigan Schedule 1.
years.
Line 30: If line 30 is less than zero, carry amount to line 29 in the next
Line 10: Include all state and local refunds, alimony, taxable Social Security,
column. This amount cannot exceed line 29 of the preceding column.
unemployment compensation, and other income in your federal adjusted gross
Line 34: Enter the total of nonrefundable credits claimed on your original
income sourced to Michigan.
return.
Line 14: Subtract line 13 from line 11. This amount will equal your federal
Line 36a: Enter the total of refundable credits for homestead property tax,
AGI, less any federal NOLD, unless you have income or losses sourced to
farmland preservation and any other refundable credits claimed for the tax
other states, income or losses subject to Michigan severance tax, or NOLDs
year(s) to which you are carrying the loss. Any credit entered here must be
from other years.
adjusted for the NOLD adjustment to household income, if applicable. Be sure
to attach your amended credit form.
Line 19: The excess capital loss deduction must be calculated on a U.S. Form
1045 Schedule A, line 21 or 22, then entered on this line. An excess capital
Line 36c: For the year listed on line 23, enter total tax paid with Form MI-1040
plus any additional tax paid after original return was filed.
loss includes a U.S. Form 1040 Schedule D loss that is limited to $3,000. The
capital loss may be greater than $3,000 if non-business capital losses were
Mail your completed form to: Michigan Department of Treasury
offset by business gains that are also reported on U.S. Form 1040 Schedule D.
Lansing, MI 48956
+
0000 2014 73 02 27 6
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