Publication 536 - Net Operating Losses (Nols) For Individuals, Estates, And Trusts - 2005 Page 12
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193
Form 1045 (2005)
Page
Schedule B—NOL Carryover (see page 5 of the instructions)
Complete one column before going to the
next column. Start with the earliest
2nd
preceding
preceding
preceding
carryback year.
12-31-03
tax year ended
tax year ended
tax year ended
1
NOL deduction (see page 5 of the
36,000
instructions). Enter as a positive number
2
Taxable income before 2005 NOL
carryback (see page 5 of the
instructions). Estates and trusts,
increase this amount by the sum of
the charitable deduction and income
21,175
distribution deduction
3
Net capital loss deduction (see page
1,000
6 of the instructions)
4
Section 1202 exclusion. Enter as a
-0-
positive number
5
Adjustment to adjusted gross income
-0-
(see page 6 of the instructions)
6
Adjustment to itemized deductions
75
(see page 6 of the instructions)
7
Individuals,
enter
deduction
for
exemptions.
Estates and trusts, enter exemption
3,050
amount
8
Modified taxable income. Combine
lines 2 through 7. If zero or less,
25,300
enter -0-
9
NOL carryover (see page 6 of the
instructions). Subtract line 8 from line
10,700
1. If zero or less, enter -0-
Adjustment to Itemized
Deductions (Individuals Only)
Complete lines 10 through 34 for the
carryback year(s) for which you
itemized deductions only if line 3 or
line 4 above is more than zero.
10
Adjusted gross income before 2005
29,000
NOL carryback
1,000
11
Add lines 3 through 5 above
12
Modified adjusted gross income. Add
30,000
lines 10 and 11
13
Medical expenses from Sch. A (Form
550
1040), line 4 (or as previously adjusted)
14
Medical expenses from Sch. A (Form
2,725
1040), line 1 (or as previously adjusted)
2,250
15
Multiply line 12 by 7.5% (.075)
16
Subtract line 15 from line 14. If zero
475
or less, enter -0-
75
17
Subtract line 16 from line 13
1045
Form
(2005)
Page 12
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