Form N-109 - Application For Tentative Refund From Carryback Of Net Operating Loss Page 2
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4FORM N-109
(REV. 2011)
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
2a
standard deduction from Form N-11 or N-15 (Form N-15 filers, see Instructions) . . .
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
4
your tax return) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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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
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enter on page 1, line 2. You must file an amended return on Form N-15 to carry back your net operating loss.) . . . . . . . . . .
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 operating loss (NOL) that is
Line 8a and b.—Nonbusiness income and deductions are those not
available for carryback or carryforward.
connected with a trade or business. For example:
Note: If you are a nonresident or part-year resident (Form N-15 filer),
Your standard deduction is a nonbusiness deduction.
you cannot file Form N-109. However, you may use this schedule to figure
Itemized deductions, if elected, are usually nonbusiness, except for state
your NOL that is available for carryback or carryforward. You will need to
income taxes related to a trade or business, casualty loss deductions, and
figure two NOL amounts: (1) Your Total NOL (for Form N-15, Column A),
any employee business expenses such as union dues, uniforms, tools and
and (2) Your Hawaii NOL (for Form N-15, Column B). Therefore, you should
educational expenses.
complete the above schedule twice. First, complete the schedule using
Salaries and wages you received are trade or business income.
amounts from Column A of your Form N-15. Next, complete the schedule
Gain or loss on sale or other disposition of real or depreciable property
using amounts from Column B of your Form N-15.
used in your trade or business is considered business income.
Line 1.—Individuals, enter your adjusted gross income.
Loss on the sale of accounts receivable, if such accounts arose under
Form N-15 filers: When computing your Total NOL, enter your Total adjusted
the accrual method of accounting in your business, is included as a busi-
gross income from Form N-15, Column A. When computing your Hawaii
ness deduction.
NOL, enter your Hawaii adjusted gross income from Form N-15, Column
Casualty losses and theft losses are considered attributable to your
B.
trade or business. This is true even if it involves nonbusiness property.
Line 2a.—Individuals, enter your itemized deductions or standard de-
Your proportionate share of a partnership’s income or loss is considered
duction.
business income or loss.
Form N-15 filers who itemized deductions: When computing your Total NOL,
Losses on stock in small business corporations which qualify as ordi-
enter your total itemized deductions calculated as if you were a full-year
nary losses are business losses.
resident. When computing your Hawaii NOL, enter your Hawaii itemized
Shareholders of an electing small business corporation (S Corporation)
deductions from Form N-15.
see Internal Revenue Code section 1366, for tax treatment of pass-thru
Line 2b.—Enter the amount of your personal exemptions from Form
items to shareholders.
N-11 or N-15.
Loss resulting from the sale or exchange of small business investment
Line 5.—If your business capital gains plus your nonbusiness capital
company stock which qualifies as an ordinary loss, is considered as a loss
gains not used in figuring line 8c exceed your business capital losses, enter
attributable to your trade or business.
zero on line 5b. If you have a net capital loss for the year, do not include in
The deduction allowed for payment made by a self-employed person to
line 5c your net capital loss not allowed this year because of the capital loss
a retirement plan is treated as a nonbusiness deduction.
limitation. For more information, see federal regulations section 1.172-3.
Page 2
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