Form N-109 - Application For Tentative Refund From Carryback Of Net Operating Loss Page 4
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4FORM N-109
(REV. 2011)
J. COMPUTATION WHEN THE NOL IS FULLY ABSORBED IN THE
Line 11. Exemptions. — Individuals — Enter $1,040 times the number
EARLIEST PRECEDING TAX YEAR.—In refiguring your tax liability for
of exemptions claimed.
the year to which the NOL is carried and fully absorbed, the deduction for
Those qualifying for the disability exemption use the appropriate amounts
charitable contributions is determined without regard to any NOL carryback.
instead of the above.
Any other deductions claimed, based on or limited to a percentage of your
If your Hawaii adjusted gross income was more than $89,981 and you
adjusted gross income (such as medical expenses) must be refigured on
were not able to deduct all of your personal exemptions, enter the amount
the basis of your adjusted gross income, determined after application of
you were able to deduct as calculated on the Personal Exemptions Work-
the NOL carryback. Also, any credits based on or limited by the tax may
sheet in your Form N-11 instruction booklet.
be figured on the tax liability as determined after application of the NOL
Line 13. Income Tax. — Refigure your tax after the carryback to de-
carryback.
termine the tax decrease. Include in the tax before carryback, amounts
K. COMPUTATION WHEN THE NOL IS NOT FULLY ABSORBED IN
shown on your original or amended return, and later adjusted, based on an
PRECEDING TAX YEAR(S).—The amount of a NOL which you may carry
examination of your return.
to the next year, after applying it to a prior year or years, is the excess, if any,
Attach a detailed computation of the new tax liability shown on line 13,
of the NOL carryback over the taxable income of such prior year(s) figured
columns (b), (d), and (f). The tax form and instructions for the applicable
with the following modifications:
year will be helpful in making this computation. Include in the amount on
(1) Your deduction for capital losses must not be more than the capital
line 13 any tax from Form N-2, Form N-103, Form N-152, Form N-312,
gains included in gross income.
Form N-318, Form N-338, Form N-344, Form N-405, Form N-586, or Form
(2) You are not permitted any deduction for the excess of a net long-term
N-814.
capital gain over a net short-term capital loss.
Line 14. Refundable tax credits for tax year 2010 (Nonrefundable
(3) Your taxable income for the prior tax year(s) is determined without
tax credits for tax years prior to 2010). — Note: For taxable years begin-
taking into account the NOL carryback from the loss year or any later tax
ning on or after January 1, 2010, when offsetting income tax liability, refund-
year. NOLs, otherwise allowable as carrybacks or carryovers, occurring in
able tax credits must be used first, followed by nonrefundable tax credits.
tax years before such loss year, are taken into account in figuring the tax-
If you are carrying back your NOL to tax year 2010, enter the total of
able income for the prior tax year.
your refundable tax credits.
(4) You may not claim any personal exemptions.
If you are carrying back your NOL to tax years prior to 2010, enter the
(5) Any deductions claimed, except charitable contributions, which are
total of your nonrefundable tax credits. Do not enter an amount that is more
based on or limited to a percentage of adjusted gross income (such as med-
than the amount of your income tax liability on line 13.
ical expenses) must be refigured on the basis of the adjusted gross income
Line 15. — If you are carrying back your NOL to tax years prior to 2010,
after application of adjustments (1), (2), and (3) above. The deduction for
line 15 cannot be less than zero.
charitable contributions is determined using the same adjustments except
Line 16. Nonrefundable tax credits for tax year 2010 (Refundable
that you do not take into account any NOLs being carried back.
tax credits for tax years prior to 2010). — Note: For taxable years begin-
The taxable income as modified is to be considered not less than zero.
ning on or after January 1, 2010, when offsetting income tax liability, refund-
L. ATTACHMENTS.—Attach a copy of your original federal income tax
able tax credits must be used first, followed by nonrefundable tax credits.
return for the loss year to Form N-109. If a copy of your federal return is not
If you are carrying back your NOL to tax year 2010, enter the total of your
attached, the processing of your return and refund may be delayed.
nonrefundable tax credits. If line 15 is zero or less, enter zero on line 16.
Line-By-Line Instructions For Form N-109
If you are carrying back your NOL to tax years prior to 2010, enter the
total of your refundable tax credits.
Enter in columns (a), (c), and (e) your tax for the applicable carryback
year as shown on your original or amended return. If the return was exam-
ined, enter the amounts that were determined as a result of the examina-
tion.
Note: Only the portion of a NOL for a tax year that’s an “eligible loss” with
respect to the taxpayer may be carried back to the 3 preceding tax years.
Farming losses may be carried back to the 5 preceding tax years.
Line 9. Deductions. — Individuals — Enter the amount of your itemized
deductions or the standard deduction amount if you did not itemize your
deductions.
Page 4
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