Publication 536 - Net Operating Losses (Nols) For Individuals, Estates, And Trusts - 2005 Page 16
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19Table 1. (Continued)
ADJUSTMENT TO OVERALL ITEMIZED LIMIT:
32.
Enter the amount on Schedule A (Form 1040), line 28
33.
Add lines 16, 19, 24, and 29, and the amounts on Schedule A (Form 1040), lines 9, 14, and 27
34.
Add lines 16 and 24, the amount on Schedule A (Form 1040), line 13, and any gambling losses
included on Schedule A (Form 1040), line 27
35. Subtract line 34 from line 33. If the result is zero, enter the amount from line 31 on line 6 above and
stop here. Otherwise, go to line 36
36.
Multiply line 35 by 80% (.80)
37.
Subtract $145,950 ($72,975 if married filing separately) from the amount on line 12
38.
Multiply line 37 by 3% (.03)
39.
Enter the smaller of line 36 or line 38
40.
Subtract line 39 from line 33. Enter the result (but not less than your standard deduction amount)
41.
Subtract line 40 from line 32. Enter the result here and on line 6
Page 16
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