Instructions For Form 1045 - Application For Tentative Refund

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part of the loss is carried back to the

that your are electing to treat any

Line 40 for 2005 –2006,

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5th tax year before the loss. Any such

2007 specified liability losses without

Line 39 for 2004,

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loss not used in that year is carried to

regard to the special 10-year

Line 37 for 2003,

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the 4th preceding year and then

carryback rule. If you filed your

Line 38 for 2002,

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applied consecutively forward through

original return on time, you can make

Line 36 for 1998 –2001, or

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the 1st preceding year. Any such loss

the election on an amended return

Line 35 for 1997.

not applied in the 5 preceding years

filed within 6 months after the due

If you filed Form 1040NR, enter

can be carried forward up to 20

date of the return (excluding

the amount shown (or as previously

years.

extensions). Attach the election to the

adjusted) on:

amended return, and write “Filed

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Only the qualified GO Zone loss

Line 37 for 2005 –2006,

pursuant to section 301.9100-2” on

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portion of the NOL can be carried

Line 36 for 2004,

the election statement. File the

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back 5 years.

Line 35 for 2003,

amended return at the same address

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Line 36 for 2002,

Example. You have a $40,000

you used for your original return.

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Line 35 for 1998 –2001, or

NOL of which only $15,000 is a

Once made, the election is

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Line 34 for 1997.

qualified GO Zone loss. The $15,000

irrevocable.

If you filed Form 1040A, enter the

qualified Go Zone loss is carried back

Special rules. Special rules apply if

5 years, but the remaining $25,000

amount shown (or as previously

you filed a joint return (or a separate

loss is carried back only 2 years. Any

adjusted) on:

return) for some but not all of the tax

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unused portion of this NOL can be

Line 24 for 2002 –2006,

years involved in figuring an NOL

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carried forward up to 20 years.

Line 22 for 2000 –2001,

carryback. For details, see Pub. 536.

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Line 21 for 1998 –1999, or

You can make an irrevocable

Attach a computation showing how

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Line 19 for 1997.

election to figure the carryback period

you figured the carryback.

for a qualified GO Zone loss without

If you filed Form 1040EZ and

regard to the special 5-year carryback

checked the “Yes” box on Form

Line 11—Adjusted

rule. To make this election for 2007,

1040EZ, line 5, (for 2005 and 2006,

Gross Income

attach to your 2007 income tax return

any box on line 5), enter the amount

filed by the due date (including

shown (or as previously adjusted) on

Enter in the column labeled “Before

extensions) a statement that you are

line E (line D for 2005) of the

carryback” your adjusted gross

electing to treat any 2007 qualified

worksheet on the back of Form

income (AGI) for the carryback year

GO Zone losses without regard to the

1040EZ. If you checked the “No” box

as shown on your original or

special 5-year carryback rule. If you

(for 2005 and 2006, you did not

amended return.

filed your original return on time, you

check any box), enter:

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Enter in the column labeled “After

can make the election on an

$5,150 for 2006 ($10,300 if

carryback” your adjusted gross

amended return filed within 6 months

married),

income refigured after you apply the

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after the due date of the return

$5,000 for 2005 ($10,000 if

NOL or net 1256 contracts loss

(including extensions). Attach the

married),

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carryback.

election to the amended return, and

$4,850 for 2004 ($9,700 if married),

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write “Filed pursuant to section

$4,750 for 2003 ($9,500 if married),

To refigure your adjusted gross

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301.9100-2” on the election

$4,700 for 2002 ($7,850 if married),

income for the year in which an NOL

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statement. File the amended return at

$4,550 for 2001 ($7,600 if married),

is fully absorbed or a net section

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the same address you used for your

$4,400 for 2000 ($7,350 if married),

1256 contracts loss is carried back,

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original return. Once made, the

$4,300 for 1999 ($7,200 if married),

refigure any items of income and any

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election is irrevocable.

$4,250 for 1998 ($7,100 if married),

deductions that are based on or

limited to a percentage of your

Specified liability losses. To the

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$4,150 for 1997 ($6,900 if married).

adjusted gross income. Amounts to

extent an NOL is a specified liability

refigure include:

loss (defined on page 1), that part of

If you used TeleFile for your

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The special allowance for passive

the loss is carried back to the 10th

original return and someone else

activity losses from rental real estate

tax year before the loss. Any such

could claim you as a dependent on

activities,

loss not used in that year is carried to

their return, see Form 1040EZ for the

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Taxable social security benefits,

the 9th preceding year and then

year in question and complete the

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IRA deductions,

applied consecutively forward through

worksheet on the back of that form.

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The student loan interest

the 1st preceding year. Any such loss

Next, enter the amount from line E of

deduction,

that is not applied in the 10 preceding

that worksheet on Form 1045, line 13,

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The tuition and fees deduction,

years can be carried forward up to 20

in the column labeled “Before

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Excludable savings bond interest,

years.

carryback” for the applicable year. If

and

no one could claim you as a

Only the specified liability loss

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The exclusion of amounts received

dependent, enter the amount listed

portion of the NOL can be carried

under an employer’s adoption

above for that year.

back 10 years.

assistance program.

You can make an irrevocable

After carryback. If you itemized

election to figure the carryback period

deductions in the carryback year,

Line 12—Deductions

for a specified liability loss without

enter in the column labeled “After

regard to the special 10-year

Individuals. Enter in the column

carryback” the total of your

carryback rule. To make this election

labeled “Before carryback” for each

deductions after refiguring any that

for 2007, attach to your 2007 income

applicable carryback year the amount

are based on, or limited to a

tax return filed by the due date

shown (or as previously adjusted) on

percentage of, your adjusted gross

(including extensions) a statement

Form 1040:

income. Use your adjusted gross

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Instructions For Form 1045 - Application For Tentative Refund - 2007 Page 4

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