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Amended Tax

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Amended Tax

Amended tax Publication 536 - Main Content Table of Contents NOL Steps How To Figure an NOLNonbusiness deductions (line 6). Amended tax Nonbusiness income (line 7). Amended tax Nonbusiness capital losses. Amended tax Business capital losses. Amended tax Illustrated Form 1045, Schedule A When To Use an NOLExceptions to 2-Year Carryback Rule Waiving the Carryback Period How To Carry an NOL Back or Forward How To Claim an NOL DeductionDeducting a Carryback Deducting a Carryforward Change in Marital Status Change in Filing Status Illustrated Form 1045 How To Figure an NOL CarryoverIllustrated Form 1045, Schedule B NOL Carryover From 2013 to 2014Worksheet Instructions How To Get Tax HelpLow Income Taxpayer Clinics NOL Steps Follow Steps 1 through 5 to figure and use your NOL. Amended tax Step 1. Amended tax   Complete your tax return for the year. Amended tax You may have an NOL if a negative figure appears on the line below: Individuals — Form 1040, line 41, or Form 1040NR, line 39. Amended tax Estates and trusts — Form 1041, line 22. Amended tax   If the amount on that line is not negative, stop here — you do not have an NOL. Amended tax Step 2. Amended tax   Determine whether you have an NOL and its amount. Amended tax See How To Figure an NOL , later. Amended tax If you do not have an NOL, stop here. Amended tax Step 3. Amended tax   Decide whether to carry the NOL back to a past year or to waive the carryback period and instead carry the NOL forward to a future year. Amended tax See When To Use an NOL , later. Amended tax Step 4. Amended tax   Deduct the NOL in the carryback or carryforward year. Amended tax See How To Claim an NOL Deduction , later. Amended tax If your NOL deduction is equal to or less than your taxable income without the deduction, stop here — you have used up your NOL. Amended tax Step 5. Amended tax   Determine the amount of your unused NOL. Amended tax See How To Figure an NOL Carryover , later. Amended tax Carry over the unused NOL to the next carryback or carryforward year and begin again at Step 4. Amended tax Note. Amended tax   If your NOL deduction includes more than one NOL amount, apply Step 5 separately to each NOL amount, starting with the amount from the earliest year. Amended tax How To Figure an NOL If your deductions for the year are more than your income for the year, you may have an NOL. Amended tax There are rules that limit what you can deduct when figuring an NOL. Amended tax In general, the following items are not allowed when figuring an NOL. Amended tax Any deduction for personal exemptions. Amended tax Capital losses in excess of capital gains. Amended tax The section 1202 exclusion of the gain from the sale or exchange of qualified small business stock. Amended tax Nonbusiness deductions in excess of nonbusiness income. Amended tax The net operating loss deduction. Amended tax The domestic production activities deduction. Amended tax Form 1045, Schedule A. Amended tax   Use Form 1045, Schedule A, to figure an NOL. Amended tax The following discussion explains Schedule A and includes an illustrated example. Amended tax   First, complete Form 1045, Schedule A, line 1, using amounts from your return. Amended tax If line 1 is a negative amount, you may have an NOL. Amended tax   Next, complete the rest of Form 1045, Schedule A, to figure your NOL. Amended tax Nonbusiness deductions (line 6). Amended tax   Enter on line 6 deductions that are not connected to your trade or business or your employment. Amended tax Examples of deductions not related to your trade or business are: Alimony paid, Deductions for contributions to an IRA or a self-employed retirement plan, Health savings account deduction, Archer medical savings account deduction, Most itemized deductions (except for casualty and theft losses, state income tax on trade and business income, and any employee business expenses), and The standard deduction. Amended tax   Do not include on line 6 the deduction for personal exemptions for you, your spouse, or your dependents. Amended tax   Do not enter business deductions on line 6. Amended tax These are deductions that are connected to your trade or business. Amended tax They include the following. Amended tax State income tax on income attributable to trade or business (including wages, salary, and unemployment compensation). Amended tax Moving expenses. Amended tax Educator expenses. Amended tax The deduction for the deductible part of self-employed health insurance. Amended tax Domestic production activities deduction. Amended tax Rental losses. Amended tax Loss on the sale or exchange of business real estate or depreciable property. Amended tax Your share of a business loss from a partnership or an S corporation. Amended tax Ordinary loss on the sale or exchange of stock in a small business corporation or a small business investment company. Amended tax If you itemize your deductions, casualty and theft losses (even if they involve nonbusiness property) and employee business expenses (such as union dues, uniforms, tools, education expenses, and travel and transportation expenses). Amended tax Loss on the sale of accounts receivable (if you use an accrual method of accounting). Amended tax Interest and litigation expenses on state and federal income taxes related to your business. Amended tax Unrecovered investment in a pension or annuity claimed on a decedent's final return. Amended tax Payment by a federal employee to buy back sick leave used in an earlier year. Amended tax Nonbusiness income (line 7). Amended tax   Enter on line 7 only income that is not related to your trade or business or your employment. Amended tax For example, enter your annuity income, dividends, and interest on investments. Amended tax Also, include your share of nonbusiness income from partnerships and S corporations. Amended tax   Do not include on line 7 the income you receive from your trade or business or your employment. Amended tax This includes salaries and wages, self-employment income, unemployment compensation included in your gross income, and your share of business income from partnerships and S corporations. Amended tax Also, do not include rental income or ordinary gain from the sale or other disposition of business real estate or depreciable business property. Amended tax Adjustment for section 1202 exclusion (line 17). Amended tax   Enter on line 17 any gain you excluded under section 1202 on the sale or exchange of qualified small business stock. Amended tax Adjustments for capital losses (lines 19–22). Amended tax   The amount deductible for capital losses is limited based on whether the losses are business capital losses or nonbusiness capital losses. Amended tax Nonbusiness capital losses. Amended tax   You can deduct your nonbusiness capital losses (line 2) only up to the amount of your nonbusiness capital gains without regard to any section 1202 exclusion (line 3). Amended tax If your nonbusiness capital losses are more than your nonbusiness capital gains without regard to any section 1202 exclusion, you cannot deduct the excess. Amended tax Business capital losses. Amended tax   You can deduct your business capital losses (line 11) only up to the total of: Your nonbusiness capital gains that are more than the total of your nonbusiness capital losses and excess nonbusiness deductions (line 10), and Your total business capital gains without regard to any section 1202 exclusion (line 12). Amended tax Domestic production activities deduction (line 23). Amended tax   You cannot take the domestic production activities deduction when figuring your NOL. Amended tax Enter on line 23 any domestic production activities deduction claimed on your return. Amended tax NOLs from other years (line 24). Amended tax   You cannot deduct any NOL carryovers or carrybacks from other years. Amended tax Enter the total amount of your NOL deduction for losses from other years. Amended tax Illustrated Form 1045, Schedule A The following example illustrates how to figure an NOL. Amended tax It includes filled-in pages 1 and 2 of Form 1040 and Form 1045, Schedule A. Amended tax Example. Amended tax Glenn Johnson is in the retail record business. Amended tax He is single and has the following income and deductions on his Form 1040 for 2013. Amended tax See the illustrated Form 1040 , later. Amended tax INCOME   Wages from part-time job $1,225 Interest on savings 425 Net long-term capital gain on sale of real estate used in business 2,000 Glenn's total income $3,650 DEDUCTIONS   Net loss from business (gross income of $67,000 minus expenses of $72,000) $5,000 Net short-term capital loss on sale of stock 1,000 Standard deduction 6,100 Personal exemption 3,900 Glenn's total deductions $16,000 Glenn's deductions exceed his income by $12,350 ($16,000 − $3,650). Amended tax However, to figure whether he has an NOL, certain deductions are not allowed. Amended tax He uses Form 1045, Schedule A, to figure his NOL. Amended tax See the Illustrated Form 1045, Schedule A , later. Amended tax The following items are not allowed on Form 1045, Schedule A. Amended tax Nonbusiness net short-term capital loss $1,000 Nonbusiness deductions (standard deduction, $6,100) minus nonbusiness income (interest, $425) 5,675 Deduction for personal exemption 3,900 Total adjustments to net loss $10,575     Therefore, Glenn's NOL for 2013 is figured as follows: Glenn's total 2013 income $3,650 Less:     Glenn's original 2013 total deductions $16,000   Reduced by the disallowed items − 10,575 − 5,425 Glenn's NOL for 2013 $1,775 This image is too large to be displayed in the current screen. Amended tax Please click the link to view the image. Amended tax Form 1040, page 1 This image is too large to be displayed in the current screen. Amended tax Please click the link to view the image. Amended tax Form 1040, page 2 This image is too large to be displayed in the current screen. Amended tax Please click the link to view the image. Amended tax Form 1045, page 2 When To Use an NOL Generally, if you have an NOL for a tax year ending in 2013, you must carry back the entire amount of the NOL to the 2 tax years before the NOL year (the carryback period), and then carry forward any remaining NOL for up to 20 years after the NOL year (the carryforward period). Amended tax You can, however, choose not to carry back an NOL and only carry it forward. Amended tax See Waiving the Carryback Period , later. Amended tax You cannot deduct any part of the NOL remaining after the 20-year carryforward period. Amended tax NOL year. Amended tax   This is the year in which the NOL occurred. Amended tax Exceptions to 2-Year Carryback Rule Eligible losses, farming losses, qualified disaster losses, and specified liability losses, all defined next, qualify for longer carryback periods. Amended tax Eligible loss. Amended tax   The carryback period for eligible losses is 3 years. Amended tax Only the eligible loss portion of the NOL can be carried back 3 years. Amended tax An eligible loss is any part of an NOL that: Is from a casualty or theft, or Is attributable to a federally declared disaster for a qualified small business or certain qualified farming businesses. Amended tax Qualified small business. Amended tax   A qualified small business is a sole proprietorship or a partnership that has average annual gross receipts (reduced by returns and allowances) of $5 million or less during the 3-year period ending with the tax year of the NOL. Amended tax If the business did not exist for this entire 3-year period, use the period the business was in existence. Amended tax   An eligible loss does not include a farming loss or a qualified disaster loss. Amended tax Farming loss. Amended tax   The carryback period for a farming loss is 5 years. Amended tax Only the farming loss portion of the NOL can be carried back 5 years. Amended tax A farming loss is the smaller of: The amount that would be the NOL for the tax year if only income and deductions attributable to farming businesses were taken into account, or The NOL for the tax year. Amended tax Farming business. Amended tax   A farming business is a trade or business involving cultivation of land or the raising or harvesting of any agricultural or horticultural commodity. Amended tax A farming business can include operating a nursery or sod farm or raising or harvesting most ornamental trees or trees bearing fruit, nuts, or other crops. Amended tax The raising, shearing, feeding, caring for, training, and management of animals is also considered a farming business. Amended tax   A farming business does not include contract harvesting of an agricultural or horticultural commodity grown or raised by someone else. Amended tax It also does not include a business in which you merely buy or sell plants or animals grown or raised entirely by someone else. Amended tax Waiving the 5-year carryback. Amended tax   You can choose to figure the carryback period for a farming loss without regard to the special 5-year carryback rule. Amended tax To make this choice for 2013, attach to your 2013 income tax return filed by the due date (including extensions) a statement that you are choosing to treat any 2013 farming losses without regard to the special 5-year carryback rule. Amended tax If you filed your original return on time but did not file the statement with it, you can make this choice on an amended return filed within 6 months after the due date of the return (excluding extensions). Amended tax Attach an election statement to your amended return, and write “Filed pursuant to section 301. Amended tax 9100-2” at the top of the statement. Amended tax Once made, this choice is irrevocable. Amended tax Qualified disaster loss. Amended tax   The carryback period for a qualified disaster loss is 5 years. Amended tax Only the qualified disaster loss portion of the NOL can be carried back 5 years. Amended tax A qualified disaster loss is the smaller of: The sum of: Any losses attributable to a federally declared disaster and occurring before January 1, 2010, in the disaster area, plus Any allowable qualified disaster expenses (even if you did not choose to treat those expenses as deductions in the current year), or The NOL for the tax year. Amended tax Qualified disaster expenses. Amended tax   A qualified disaster expense is any capital expense paid or incurred in connection with a trade or business or with business-related property which is: For the abatement or control of hazardous substances that were released as a result of a federally declared disaster occurring before January 1, 2010, For the removal of debris from, or the demolition of structures on, real property which is business-related property damaged or destroyed as a result of a federally declared disaster occurring before January 1, 2010, or For the repair of business-related property damaged as a result of a federally declared disaster occurring before January 1, 2010. Amended tax Business-related property is property held for use in a trade or business, property held for the production of income, or inventory property. Amended tax Note. Amended tax Section 198A allows taxpayers to treat certain capital expenses (qualified disaster expenses) as deductions in the year the expenses were paid or incurred. Amended tax Excluded losses. Amended tax   A qualified disaster loss does not include any losses from property used in connection with any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, or any store for which the principal business is the sale of alcoholic beverages for consumption off premises. Amended tax   A qualified disaster loss also does not include any losses from any gambling or animal racing property. Amended tax Gambling or animal racing property is any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing, and the portion of any real property (determined by square footage) that is dedicated to gambling, the racing of animals, or the on-site viewing of such racing, unless this portion is less than 100 square feet. Amended tax Specified liability loss. Amended tax   The carryback period for a specified liability loss is 10 years. Amended tax Only the specified liability loss portion of the NOL can be carried back 10 years. Amended tax Generally, a specified liability loss is a loss arising from: Product liability and expenses incurred in the investigation or settlement of, or opposition to, product liability claims, or An act (or failure to act) that occurred at least 3 years before the beginning of the loss year and resulted in a liability under a federal or state law requiring: Reclamation of land, Dismantling of a drilling platform, Remediation of environmental contamination, or Payment under any workers compensation act. Amended tax   Any loss from a liability arising from (1) through (4) above can be taken into account as a specified liability loss only if you used an accrual method of accounting throughout the period in which the act (or failure to act) occurred. Amended tax For details, see section 172(f). Amended tax Waiving the 10-year carryback. Amended tax   You can choose to figure the carryback period for a specified liability loss without regard to the special 10-year carryback rule. Amended tax To make this choice for 2013 attach to your 2013 income tax return filed by the due date (including extensions) a statement that you are choosing to treat any 2013 specified liability losses without regard to the special 10-year carryback rule. Amended tax If you filed your original return on time but did not file the statement with it, you can make this choice on an amended return filed within 6 months after the due date of the return (excluding extensions). Amended tax Attach a statement to your amended return and write “Filed pursuant to section 301. Amended tax 9100-2” at the top of the statement. Amended tax Once made, this choice is irrevocable. Amended tax Waiving the Carryback Period You can choose not to carry back your NOL. Amended tax If you make this choice, then you can use your NOL only in the 20-year carryforward period. Amended tax (This choice means you also choose not to carry back any alternative tax NOL. Amended tax ) To make this choice, attach a statement to your original return filed by the due date (including extensions) for the NOL year. Amended tax This statement must show that you are choosing to waive the carryback period under section 172(b)(3). Amended tax If you filed your original return on time but did not file the statement with it, you can make this choice on an amended return filed within 6 months of the due date of the return (excluding extensions). Amended tax Attach a statement to your amended return, and write “Filed pursuant to section 301. Amended tax 9100-2” at the top of the statement. Amended tax Once you choose to waive the carryback period, it generally is irrevocable. Amended tax If you choose to waive the carryback period for more than one NOL, you must make a separate choice and attach a separate statement for each NOL year. Amended tax If you do not file this statement on time, you cannot waive the carryback period. Amended tax How To Carry an NOL Back or Forward If you choose to carry back the NOL, you must first carry the entire NOL to the earliest carryback year. Amended tax If your NOL is not used up, you can carry the rest to the next earliest carryback year, and so on. Amended tax If you waive the carryback period or do not use up the NOL in the carryback period, carry forward what remains of the NOL to the 20 tax years following the NOL year. Amended tax Start by carrying it to the first tax year after the NOL year. Amended tax If you do not use it up, carry the unused part to the next year. Amended tax Continue to carry any unused part of the NOL forward until the NOL is used up or you complete the 20-year carryforward period. Amended tax Example 1. Amended tax You started your business as a sole proprietor in 2013 and had a $42,000 NOL for the year. Amended tax No part of the NOL qualifies for the 3-year, 5-year, or 10-year carryback. Amended tax You begin using your NOL in 2011, the second year before the NOL year, as shown in the following chart. Amended tax Year   Carryback/  Carryover Unused  Loss 2011 $42,000 $40,000 2012 40,000 37,000 2013 (NOL year)     2014 37,000 31,500 2015 31,500 22,500 2016 22,500 12,700 2017 12,700 4,000 2018 4,000 -0- If your loss were larger, you could carry it forward until the year 2033. Amended tax If you still had an unused 2013 carryforward after the year 2033, you would not be allowed to deduct it. Amended tax Example 2. Amended tax Assume the same facts as in Example 1 , except that $4,000 of the NOL is attributable to a casualty loss and this loss qualifies for a 3-year carryback period. Amended tax You begin using the $4,000 in 2010. Amended tax As shown in the following chart, $3,000 of this NOL is used in 2010. Amended tax The remaining $1,000 is carried to 2011 with the $38,000 NOL that you must begin using in 2011. Amended tax Year   Carryback/  Carryover Unused  Loss 2010 $4,000 $1,000 2011 39,000 37,000 2012 37,000 34,000 2013 (NOL year)     2014 34,000 28,500 2015 28,500 19,500 2016 19,500 9,700 2017 9,700 1,000 2018 1,000 -0- How To Claim an NOL Deduction If you have not already carried the NOL to an earlier year, your NOL deduction is the total NOL. Amended tax If you carried the NOL to an earlier year, your NOL deduction is the carried over NOL minus the NOL amount you used in the earlier year or years. Amended tax If you carry more than one NOL to the same year, your NOL deduction is the total of these carrybacks and carryovers. Amended tax NOL resulting in no taxable income. Amended tax   If your NOL is more than the taxable income of the year you carry it to (figured before deducting the NOL), you generally will have an NOL carryover to the next year. Amended tax See How To Figure an NOL Carryover , later, to determine how much NOL you have used and how much you carry to the next year. Amended tax Deducting a Carryback If you carry back your NOL, you can use either Form 1045 or Form 1040X. Amended tax You can get your refund faster by using Form 1045, but you have a shorter time to file it. Amended tax You can use Form 1045 to apply an NOL to all carryback years. Amended tax If you use Form 1040X, you must use a separate Form 1040X for each carryback year to which you apply the NOL. Amended tax Estates and trusts that do not file Form 1045 must file an amended Form 1041 (instead of Form 1040X) for each carryback year to which NOLs are applied. Amended tax Use a copy of the appropriate year's Form 1041, check the “Amended return” box, and follow the Form 1041 instructions for amended returns. Amended tax Include the NOL deduction with other deductions not subject to the 2% limit (line 15a). Amended tax Also, see the special procedures for filing an amended return due to an NOL carryback, explained under Form 1040X , later. Amended tax Form 1045. Amended tax   You can apply for a quick refund by filing Form 1045. Amended tax This form results in a tentative adjustment of tax in the carryback year. Amended tax See the Illustrated Form 1045 . Amended tax at the end of this discussion. Amended tax   If the IRS refunds or credits an amount to you from Form 1045 and later determines that the refund or credit is too much, the IRS may assess and collect the excess immediately. Amended tax   Generally, you must file Form 1045 on or after the date you file your tax return for the NOL year, but not later than one year after the end of the NOL year. Amended tax If the last day of the NOL year falls on a Saturday, Sunday, or holiday, the form will be considered timely if postmarked on the next business day. Amended tax For example, if you are a calendar year taxpayer with a carryback from 2013 to 2011, you must file Form 1045 on or after the date you file your tax return for 2013, but no later than December 31, 2014. Amended tax Form 1040X. Amended tax   If you do not file Form 1045, you can file Form 1040X to get a refund of tax because of an NOL carryback. Amended tax File Form 1040X within 3 years after the due date, including extensions, for filing the return for the NOL year. Amended tax For example, if you are a calendar year taxpayer and filed your 2011 return by the April 15, 2012, due date, you must file a claim for refund of 2008 tax because of an NOL carryback from 2011 by April 15, 2015. Amended tax   Attach a computation of your NOL using Form 1045, Schedule A, and, if it applies, your NOL carryover using Form 1045, Schedule B, discussed later . Amended tax Refiguring your tax. Amended tax   To refigure your total tax liability for a carryback year, first refigure your adjusted gross income for that year. Amended tax (On Form 1045, use lines 10 and 11 and the “After carryback” column for the applicable carryback year. Amended tax ) Use your adjusted gross income after applying the NOL deduction to refigure income or deduction items that are based on, or limited to, a percentage of your adjusted gross income. Amended tax Refigure the following items. Amended tax The special allowance for passive activity losses from rental real estate activities. Amended tax Taxable social security and tier 1 railroad retirement benefits. Amended tax IRA deductions. Amended tax Excludable savings bond interest. Amended tax Excludable employer-provided adoption benefits. Amended tax The student loan interest deduction. Amended tax The tuition and fees deduction. Amended tax   If more than one of these items apply, refigure them in the order listed above, using your adjusted gross income after applying the NOL deduction and any previous item. Amended tax (Enter your NOL deduction on Form 1045, line 10. Amended tax On line 11, using the “After carryback” column, enter your adjusted gross income refigured after applying the NOL deduction and after refiguring any above items. Amended tax )   Next, refigure your taxable income. Amended tax (On Form 1045, use lines 12 through 15 and the “After carryback” column. Amended tax ) Use your refigured adjusted gross income (Form 1045, line 11, using the “After carryback” column) to refigure certain deductions and other items that are based on or limited to a percentage of your adjusted gross income. Amended tax Refigure the following items. Amended tax The itemized deduction for medical expenses. Amended tax The itemized deduction for qualified mortgage insurance premiums. Amended tax The itemized deduction for casualty losses. Amended tax Miscellaneous itemized deductions subject to the 2% limit. Amended tax The overall limit on itemized deductions (do not apply to carryback years beginning after December 31, 2009). Amended tax The phaseout of the deduction for exemptions (do not apply to carryback years beginning after December 31, 2009). Amended tax Qualified motor vehicle tax (do not apply to carryback years beginning after December 31, 2009). Amended tax    Do not refigure the itemized deduction for charitable contributions. Amended tax   Finally, use your refigured taxable income (Form 1045, line 15, using the “After carryback” column) to refigure your total tax liability. Amended tax Refigure your income tax, your alternative minimum tax, and any credits that are based on or limited by your adjusted gross income (AGI), modified adjusted gross income (MAGI), or tax liability. Amended tax (On Form 1045, use lines 16 through 25, and the “After carryback” column. Amended tax ) The earned income credit, for example, may be affected by changes to adjusted gross income or the amount of tax (or both) and, therefore, must be recomputed. Amended tax If you become eligible for a credit because of the carryback, complete the form for that specific credit (such as the EIC Worksheet) for that year. Amended tax   While it is necessary to refigure your income tax, alternative minimum tax, and credits, do not refigure your self-employment tax. Amended tax Deducting a Carryforward If you carry forward your NOL to a tax year after the NOL year, list your NOL deduction as a negative figure on the “Other income” line of Form 1040 or Form 1040NR (line 21 for 2013). Amended tax Estates and trusts include an NOL deduction on Form 1041 with other deductions not subject to the 2% limit (line 15a for 2013). Amended tax You must attach a statement that shows all the important facts about the NOL. Amended tax Your statement should include a computation showing how you figured the NOL deduction. Amended tax If you deduct more than one NOL in the same year, your statement must cover each of them. Amended tax Change in Marital Status If you and your spouse were not married to each other in all years involved in figuring NOL carrybacks and carryovers, only the spouse who had the loss can take the NOL deduction. Amended tax If you file a joint return, the NOL deduction is limited to the income of that spouse. Amended tax For example, if your marital status changes because of death or divorce, and in a later year you have an NOL, you can carry back that loss only to the part of the income reported on the joint return (filed with your former spouse) that was related to your taxable income. Amended tax After you deduct the NOL in the carryback year, the joint rates apply to the resulting taxable income. Amended tax Refund limit. Amended tax   If you are not married in the NOL year (or are married to a different spouse), and in the carryback year you were married and filed a joint return, your refund for the overpaid joint tax may be limited. Amended tax You can claim a refund for the difference between your share of the refigured tax and your contribution toward the tax paid on the joint return. Amended tax The refund cannot be more than the joint overpayment. Amended tax Attach a statement showing how you figured your refund. Amended tax Figuring your share of a joint tax liability. Amended tax   There are five steps for figuring your share of the refigured joint tax liability. Amended tax Figure your total tax as though you had filed as married filing separately. Amended tax Figure your spouse's total tax as though your spouse had also filed as married filing separately. Amended tax Add the amounts in (1) and (2). Amended tax Divide the amount in (1) by the amount in (3). Amended tax Multiply the refigured tax on your joint return by the amount figured in (4). Amended tax This is your share of the joint tax liability. Amended tax Figuring your contribution toward tax paid. Amended tax   Unless you have an agreement or clear evidence of each spouse's contributions toward the payment of the joint tax liability, figure your contribution by adding the tax withheld on your wages and your share of joint estimated tax payments or tax paid with the return. Amended tax If the original return for the carryback year resulted in an overpayment, reduce your contribution by your share of the tax refund. Amended tax Figure your share of a joint payment or refund by the same method used in figuring your share of the joint tax liability. Amended tax Use your taxable income as originally reported on the joint return in steps (1) and (2) above, and substitute the joint payment or refund for the refigured joint tax in step (5). Amended tax Change in Filing Status If you and your spouse were married and filed a joint return for each year involved in figuring NOL carrybacks and carryovers, figure the NOL deduction on a joint return as you would for an individual. Amended tax However, treat the NOL deduction as a joint NOL. Amended tax If you and your spouse were married and filed separate returns for each year involved in figuring NOL carrybacks and carryovers, the spouse who sustained the loss may take the NOL deduction on a separate return. Amended tax Special rules apply for figuring the NOL carrybacks and carryovers of married people whose filing status changes for any tax year involved in figuring an NOL carryback or carryover. Amended tax Separate to joint return. Amended tax   If you and your spouse file a joint return for a carryback or carryforward year, and were married but filed separate returns for any of the tax years involved in figuring the NOL carryback or carryover, treat the separate carryback or carryover as a joint carryback or carryover. Amended tax Joint to separate returns. Amended tax   If you and your spouse file separate returns for a carryback or carryforward year, but filed a joint return for any or all of the tax years involved in figuring the NOL carryover, figure each of your carryovers separately. Amended tax Joint return in NOL year. Amended tax   Figure each spouse's share of the joint NOL through the following steps. Amended tax Figure each spouse's NOL as if he or she filed a separate return. Amended tax See How To Figure an NOL , earlier. Amended tax If only one spouse has an NOL, stop here. Amended tax All of the joint NOL is that spouse's NOL. Amended tax If both spouses have an NOL, multiply the joint NOL by a fraction, the numerator of which is spouse A's NOL figured in (1) and the denominator of which is the total of the spouses' NOLs figured in (1). Amended tax The result is spouse A's share of the joint NOL. Amended tax The rest of the joint NOL is spouse B's share. Amended tax Example 1. Amended tax Mark and Nancy are married and file a joint return for 2013. Amended tax They have an NOL of $5,000. Amended tax They carry the NOL back to 2011, a year in which Mark and Nancy filed separate returns. Amended tax Figured separately, Nancy's 2013 deductions were more than her income, and Mark's income was more than his deductions. Amended tax Mark does not have any NOL to carry back. Amended tax Nancy can carry back the entire $5,000 NOL to her 2011 separate return. Amended tax Example 2. Amended tax Assume the same facts as in Example 1 , except that both Mark and Nancy had deductions in 2013 that were more than their income. Amended tax Figured separately, his NOL is $1,800 and her NOL is $3,000. Amended tax The sum of their separate NOLs ($4,800) is less than their $5,000 joint NOL because his deductions included a $200 net capital loss that is not allowed in figuring his separate NOL. Amended tax The loss is allowed in figuring their joint NOL because it was offset by Nancy's capital gains. Amended tax Mark's share of their $5,000 joint NOL is $1,875 ($5,000 × $1,800/$4,800) and Nancy's is $3,125 ($5,000 − $1,875). Amended tax Joint return in previous carryback or carryforward year. Amended tax   If only one spouse had an NOL deduction on the previous year's joint return, all of the joint carryover is that spouse's carryover. Amended tax If both spouses had an NOL deduction (including separate carryovers of a joint NOL, figured as explained in the previous discussion ), figure each spouse's share of the joint carryover through the following steps. Amended tax Figure each spouse's modified taxable income as if he or she filed a separate return. Amended tax See Modified taxable income under How To Figure an NOL Carryover , later. Amended tax Multiply the joint modified taxable income you used to figure the joint carryover by a fraction, the numerator of which is spouse A's modified taxable income figured in (1) and the denominator of which is the total of the spouses' modified taxable incomes figured in (1). Amended tax This is spouse A's share of the joint modified taxable income. Amended tax Subtract the amount figured in (2) from the joint modified taxable income. Amended tax This is spouse B's share of the joint modified taxable income. Amended tax Reduce the amount figured in (3), but not below zero, by spouse B's NOL deduction. Amended tax Add the amounts figured in (2) and (4). Amended tax Subtract the amount figured in (5) from spouse A's NOL deduction. Amended tax This is spouse A's share of the joint carryover. Amended tax The rest of the joint carryover is spouse B's share. Amended tax Example. Amended tax Sam and Wanda filed a joint return for 2011 and separate returns for 2012 and 2013. Amended tax In 2013, Sam had an NOL of $18,000 and Wanda had an NOL of $2,000. Amended tax They choose to carry back both NOLs 2 years to their 2011 joint return and claim a $20,000 NOL deduction. Amended tax Their joint modified taxable income (MTI) for 2011 is $15,000, and their joint NOL carryover to 2012 is $5,000 ($20,000 – $15,000). Amended tax Sam and Wanda each figure their separate MTI for 2011 as if they had filed separate returns. Amended tax Then they figure their shares of the $5,000 carryover as follows. Amended tax Step 1. Amended tax   Sam's separate MTI $9,000 Wanda's separate MTI + 3,000 Total MTI $12,000 Step 2. Amended tax   Joint MTI $15,000 Sam's MTI ÷ total MTI ($9,000 ÷ $12,000) × . Amended tax 75 Sam's share of joint MTI $11,250 Step 3. Amended tax   Joint MTI $15,000 Sam's share of joint MTI − 11,250 Wanda's share of joint MTI $3,750 Step 4. Amended tax   Wanda's share of joint MTI $3,750 Wanda's NOL deduction − 2,000 Wanda's remaining share $1,750 Step 5. Amended tax   Sam's share of joint MTI $11,250 Wanda's remaining share + 1,750 Joint MTI to be offset $13,000 Step 6. Amended tax   Sam's NOL deduction $18,000 Joint MTI to be offset − 13,000 Sam's carryover to 2012 $5,000 Joint carryover to 2012 $5,000 Sam's carryover − 5,000 Wanda's carryover to 2012 $-0- Wanda's $2,000 NOL deduction offsets $2,000 of her $3,750 share of the joint modified taxable income and is completely used up. Amended tax She has no carryover to 2012. Amended tax Sam's $18,000 NOL deduction offsets all of his $11,250 share of joint modified taxable income and the remaining $1,750 of Wanda's share. Amended tax His carryover to 2012 is $5,000. Amended tax Illustrated Form 1045 The following example illustrates how to use Form 1045 to claim an NOL deduction in a carryback year. Amended tax It includes a filled-in page 1 of Form 1045. Amended tax Example. Amended tax Martha Sanders is a self-employed contractor. Amended tax Martha's 2013 deductions are more than her 2013 income because of a business loss. Amended tax She uses Form 1045 to carry back her NOL 2 years and claim an NOL deduction in 2011. Amended tax Her filing status in both years was single. Amended tax See the filled-in Form 1045 later. Amended tax Martha figures her 2013 NOL on Form 1045, Schedule A (not shown). Amended tax (For an example using Form 1045, Schedule A, see Illustrated Form 1045, Schedule A under How To Figure an NOL , earlier. Amended tax ) She enters the $10,000 NOL from Form 1045, Schedule A, line 25, on Form 1045, line 1a. Amended tax Martha completes lines 10 through 25, using the “Before carryback” column under the column for the second preceding tax year ended 12/31/11 on page 1 of Form 1045 using the following amounts from her 2011 return. Amended tax 2011 Adjusted gross income $50,000 Itemized deductions:     Medical expenses [$6,000 − ($50,000 × 7. Amended tax 5%)] $2,250   State income tax + 2,000   Real estate tax + 4,000   Home mortgage interest + 5,000   Total itemized deductions $13,250 Exemption $3,700 Income tax $4,550 Self-employment tax $6,120   Martha refigures her taxable income for 2011 after carrying back her 2013 NOL as follows: 2011 Adjusted gross income $50,000 Less:     NOL from 2013 −10,000 2011 Adjusted gross income after carryback $40,000 Less:     Itemized deductions:     Medical expenses [$6,000 − ($40,000 × 7. Amended tax 5%)] $3,000   State income tax + 2,000   Real estate tax + 4,000   Home mortgage interest + 5,000   Total itemized deductions −14,000 Less:     Exemption − 3,700 2011 Taxable income after carryback $22,300 Martha then completes lines 10 through 25, using the “After carryback” column under the column for the second preceding tax year ended 12/31/11. Amended tax On line 10, Martha enters her $10,000 NOL deduction. Amended tax Her new adjusted gross income on line 11 is $40,000 ($50,000 − $10,000). Amended tax To complete line 12, she must refigure her medical expense deduction using her new adjusted gross income. Amended tax Her refigured medical expense deduction is $3,000 [$6,000 − ($40,000 × 7. Amended tax 5%)]. Amended tax This increases her total itemized deductions to $14,000 [$13,250 + ($3,000 − $2,250)]. Amended tax Martha uses her refigured taxable income ($22,300) from line 15, and the tax tables in her 2011 Form 1040 instructions to find her income tax. Amended tax She enters the new amount, $2,924, on line 16, and her new total tax liability, $9,044, on line 25. Amended tax Martha used up her $10,000 NOL in 2011 so she does not complete a column for the first preceding tax year ended 12/31/2012. Amended tax The decrease in tax because of her NOL deduction (line 27) is $1,612. Amended tax Martha files Form 1045 after filing her 2013 return, but no later than December 31, 2014. Amended tax She mails it to the Internal Revenue Service Center for the place where she lives as shown in the 2013 instructions for Form 1040 and attaches a copy of her 2013 return (including the applicable forms and schedules). Amended tax This image is too large to be displayed in the current screen. Amended tax Please click the link to view the image. Amended tax Form 1045, page 1 How To Figure an NOL Carryover If your NOL is more than your taxable income for the year to which you carry it (figured before deducting the NOL), you may have an NOL carryover. Amended tax You must make certain modifications to your taxable income to determine how much NOL you will use up in that year and how much you can carry over to the next tax year. Amended tax Your carryover is the excess of your NOL deduction over your modified taxable income for the carryback or carryforward year. Amended tax If your NOL deduction includes more than one NOL, apply the NOLs against your modified taxable income in the same order in which you incurred them, starting with the earliest. Amended tax Modified taxable income. Amended tax   Your modified taxable income is your taxable income figured with the following changes. Amended tax You cannot claim an NOL deduction for the NOL carryover you are figuring or for any later NOL. Amended tax You cannot claim a deduction for capital losses in excess of your capital gains. Amended tax Also, you must increase your taxable income by the amount of any section 1202 exclusion. Amended tax You cannot claim the domestic production activities deduction. Amended tax You cannot claim a deduction for your exemptions for yourself, your spouse, or dependents. Amended tax You must figure any item affected by the amount of your adjusted gross income after making the changes in (1), (2), and (3), above, and certain other changes to your adjusted gross income that result from (1), (2), and (3). Amended tax This includes income and deduction items used to figure adjusted gross income (for example, IRA deductions), as well as certain itemized deductions. Amended tax To figure a charitable contribution deduction, do not include deductions for NOL carrybacks in the change in (1) but do include deductions for NOL carryforwards from tax years before the NOL year. Amended tax   Your taxable income as modified cannot be less than zero. Amended tax Form 1045, Schedule B. Amended tax   You can use Form 1045, Schedule B, to figure your modified taxable income for carryback years and your carryover from each of those years. Amended tax Do not use Form 1045, Schedule B, for a carryforward year. Amended tax If your 2013 return includes an NOL deduction from an NOL year before 2013 that reduced your taxable income to zero (to less than zero, if an estate or trust), see NOL Carryover From 2013 to 2014 , later. Amended tax Illustrated Form 1045, Schedule B The following example illustrates how to figure an NOL carryover from a carryback year. Amended tax It includes a filled-in Form 1045, Schedule B. Amended tax Example. Amended tax Ida Brown runs a small clothing shop. Amended tax In 2013, she has an NOL of $36,000 that she carries back to 2011. Amended tax She has no other carrybacks or carryforwards to 2011. Amended tax Ida's adjusted gross income in 2011 was $35,000, consisting of her salary of $36,000 minus a $1,000 capital loss deduction. Amended tax She is single and claimed only one personal exemption of $3,700. Amended tax During that year, she gave $1,450 in charitable contributions. Amended tax Her medical expenses were $3,000. Amended tax She also deducted $1,650 in taxes and $3,125 in home mortgage interest. Amended tax Her deduction for charitable contributions was not limited because her contributions, $1,450, were less than 50% of her adjusted gross income. Amended tax The deduction for medical expenses was limited to expenses over 7. Amended tax 5% of adjusted gross income (. Amended tax 075 × $35,000 = $2,625; $3,000 − $2,625 = $375). Amended tax The deductions for taxes and home mortgage interest were not subject to any limits. Amended tax She was able to claim $6,600 ($1,450 + $375 + $1,650 + $3,125) in itemized deductions and a personal exemption deduction of $3,700 for 2011. Amended tax She had no other deductions in 2011 (except the NOL deduction). Amended tax Her taxable income (figured without the NOL deduction) for the year was $24,700. Amended tax Ida's adjusted gross income in 2012 was $9,325, consisting of net business income from the clothing shop of $12,325 and a net capital loss of $3,000. Amended tax She did not itemize her deductions in 2012. Amended tax She deducted the standard deduction of $5,950 and the personal exemption deduction of $3,800. Amended tax She had no other deductions in 2012 (other than the NOL deduction). Amended tax Her taxable income, therefore, was ($425). Amended tax Ida's $36,000 carryback will result in her having 2011 taxable income of zero. Amended tax She then completes the column for the second preceding tax year ended 12/31/11 on Form 1045, Schedule B, to figure how much of her NOL she uses up in 2011 and how much she can carry over to 2012. Amended tax She completes the column for the first preceding tax year ended 12/31/12. Amended tax See the illustrated Form 1045, Schedule B , shown later. Amended tax Column 1, line 1. Amended tax Ida enters $36,000, her 2013 net operating loss, on line 1. Amended tax Column 1, line 2. Amended tax She enters $24,700, her 2011 taxable income (figured without the NOL deduction), on line 2. Amended tax Column 1, line 3. Amended tax Ida enters her net capital loss deduction of $1,000 on line 3. Amended tax Column 1, lines 4 and 5. Amended tax Ida had no section 1202 exclusion or domestic production activities deduction in 2011. Amended tax She enters zero on lines 4 and 5. Amended tax Column 1, line 6. Amended tax Although Ida's entry on line 3 modifies her adjusted gross income, that does not affect any other items included in her adjusted gross income. Amended tax Ida enters zero on line 6. Amended tax Column 1, line 7. Amended tax Ida had itemized deductions and entered $1,000 on line 3, so she completes lines 11 through 38 to figure her adjustment to itemized deductions. Amended tax On line 7, she enters the total adjustment from line 38. Amended tax Column 1, line 8. Amended tax Ida enters the deduction for her personal exemption of $3,700 for 2011. Amended tax Column 1, line 9. Amended tax After combining lines 2 through 8, Ida's modified taxable income is $29,475. Amended tax Column 1, line 10. Amended tax Ida figures her carryover to 2012 by subtracting her modified taxable income (line 9) from her NOL deduction (line 1). Amended tax She enters the $6,525 carryover on line 10. Amended tax She also enters the $6,525 as her NOL deduction for 2012 on Form 1045, page 1, line 10, in the “After carryback” column under the column for the first preceding tax year ended 12/31/12. Amended tax (For an illustrated example of page 1 of Form 1045, see Illustrated Form 1045 under How To Claim an NOL Deduction , earlier. Amended tax ) Next, Ida completes column 2 for the first preceding tax year ended 12/31/12. Amended tax Column 1, line 11. Amended tax Ida's adjusted gross income for 2011 was $35,000. Amended tax Column 1, line 12. Amended tax She adds lines 3 through 6 and enters $1,000 on line 12. Amended tax (This is her net capital loss deduction added back, which modifies her adjusted gross income. Amended tax ) Column 1, line 13. Amended tax Her modified adjusted gross income for 2011 is now $36,000. Amended tax Column 1, line 14. Amended tax On her 2011 tax return, she deducted $375 as medical expenses. Amended tax Column 1, line 15. Amended tax Her actual medical expenses were $3,000. Amended tax Column 1, line 16. Amended tax She multiplies her modified adjusted gross income, $36,000, by . Amended tax 075. Amended tax She enters $2,700 on line 16. Amended tax Column 1, line 17. Amended tax She substracts $2,700 from her actual medical expenses, $3,000. Amended tax She enters $300 on line 17. Amended tax This is her modified medical deduction. Amended tax Column 1, line 18. Amended tax The difference between her medical deduction and her modified medical deduction is $75. Amended tax She enters this on line 18. Amended tax Column 1, lines 19 through 21. Amended tax Ida had no deduction for qualified mortgage insurance premiums in 2011. Amended tax She skips lines 19 and 20 and enters zero on line 21. Amended tax Column 1, line 22. Amended tax She enters her modified adjusted gross income of $36,000 on line 22. Amended tax Column 1, line 23. Amended tax She had no other carrybacks to 2011 and enters zero on line 23. Amended tax Column 1, line 24. Amended tax Her modified adjusted gross income remains $36,000. Amended tax Column 1, line 25. Amended tax Her actual contributions for 2011 were $1,450, which she enters on line 25. Amended tax Column 1, line 26. Amended tax She now refigures her charitable contributions based on her modified adjusted gross income. Amended tax Her contributions are well below the 50% limit, so she enters $1,450 on line 26. Amended tax Column 1, line 27. Amended tax The difference is zero. Amended tax Column 1, lines 28 through 37. Amended tax Ida had no casualty losses or deductions for miscellaneous items in 2011. Amended tax She skips lines 28 through 31 and lines 33 through 36. Amended tax Ida enters zero on lines 32 and 37. Amended tax Column 1, line 38. Amended tax She combines lines 18, 21, 27, 32, and 37 and enters $75 on line 38. Amended tax She carries this figure to line 7. Amended tax Column 2, line 1. Amended tax Ida enters $6,525, the carryback of her 2013 NOL to 2012, from column 1, line 10, on line 1. Amended tax Column 2, line 2. Amended tax She enters ($425), her 2012 taxable income, on line 2. Amended tax Column 2, line 3. Amended tax Ida enters her net capital loss deduction of $3,000 on line 3. Amended tax Column 2, lines 4 and 5. Amended tax Ida had no section 1202 exclusion or domestic production activities deduction in 2012. Amended tax She enters zero on lines 4 and 5. Amended tax Column 2, line 6. Amended tax Although Ida's entry on line 3 modifies her adjusted gross income, that does not affect any other items included in her adjusted gross income. Amended tax Ida enters zero on line 6. Amended tax Column 2, line 7. Amended tax Because Ida did not itemize deductions on her 2012 tax return, she enters zero on line 7. Amended tax Column 2, line 8. Amended tax Ida enters the deduction for her personal exemption of $3,800 for 2012. Amended tax Column 2, line 9. Amended tax After combining lines 2 through 8, Ida's modified taxable income is $6,375. Amended tax Column 2, line 10. Amended tax Ida figures her carryforward to 2014 by subtracting her modified taxable income (line 9) from her NOL deduction (line 1). Amended tax She enters the $150 carryover on line 10. Amended tax This image is too large to be displayed in the current screen. Amended tax Please click the link to view the image. Amended tax Form 1045, page 3 This image is too large to be displayed in the current screen. Amended tax Please click the link to view the image. Amended tax Form 1045, page 4 NOL Carryover From 2013 to 2014 If you had an NOL deduction carried forward from a year prior to 2013 that resulted in your having taxable income on your 2013 return of zero (of less than zero, if an estate or trust), complete Table 1 , Worksheet for NOL Carryover From 2013 to 2014, on the following pages. Amended tax It will help you figure your NOL to carry to 2014. Amended tax Keep the worksheet for your records. Amended tax Worksheet Instructions At the top of the worksheet, enter the NOL year for which you are figuring the carryover. Amended tax More than one NOL. Amended tax   If your 2013 NOL deduction includes amounts for more than one loss year, complete this worksheet only for one loss year. Amended tax To determine which year, start with your earliest NOL and subtract each NOL separately from your taxable income figured without the NOL deduction. Amended tax Complete this worksheet for the earliest NOL that results in your having taxable income below zero. Amended tax Your NOL carryover to 2014 is the total of the amount on line 10 of the worksheet and all later NOL amounts. Amended tax Example. Amended tax Your taxable income for 2013 is $5,000 without your $9,000 NOL deduction. Amended tax Your NOL deduction includes a $2,000 carryover from 2011 and a $7,000 carryover from 2012. Amended tax Subtract your 2011 NOL of $2,000 from $5,000. Amended tax This gives you taxable income of $3,000. Amended tax Your 2011 NOL is now completely used up. Amended tax Subtract your $7,000 2012 NOL from $3,000. Amended tax This gives you taxable income of ($4,000). Amended tax You now complete the worksheet for your 2012 NOL. Amended tax Your NOL carryover to 2014 is the unused part of your 2012 NOL from line 10 of the worksheet. Amended tax Line 2. Amended tax   Treat your NOL deduction for the NOL year entered at the top of the worksheet and later years as a positive amount. Amended tax Add it to your negative taxable income (figured without the NOL deduction). Amended tax Enter the result on line 2. Amended tax Line 6. Amended tax   You must refigure the following income and deductions based on adjusted gross income. Amended tax The special allowance for passive activity losses from rental real estate activities. Amended tax Taxable social security and tier 1 railroad retirement benefits. Amended tax IRA deductions. Amended tax Excludable savings bond interest. Amended tax Excludable employer-provided adoption benefits. Amended tax The student loan interest deduction. Amended tax The tuition and fees deduction. Amended tax   If none of these items apply to you, enter zero on line 6. Amended tax Otherwise, increase your adjusted gross income by the total of lines 3 through 5 and your NOL deduction for the NOL year entered at the top of the worksheet and later years. Amended tax Using this increased adjusted gross income, refigure the items that apply, in the order listed above. Amended tax Your adjustment for each item is the difference between the refigured amount and the amount included on your return. Amended tax Combine the adjustments for previous items with your adjusted gross income before refiguring the next item. Amended tax Keep a record of your computations. Amended tax   Enter your total adjustments for the above items on line 6. Amended tax Line 7. Amended tax   Enter zero if you claimed the standard deduction or the amounts on lines 3 through 5 are zero. Amended tax Otherwise, use lines 11 through 33 of the worksheet to figure the amount to enter on this line. Amended tax Complete only those sections that apply to you. Amended tax Estates and trusts. Amended tax   Enter zero on line 7 if you did not claim any miscellaneous deductions on Form 1041, line 15c, or a casualty or theft loss. Amended tax Otherwise, refigure these deductions by substituting modified adjusted gross income (see below ) for adjusted gross income. Amended tax Subtract the recomputed deductions from those claimed on the return. Amended tax Enter the result on line 7. Amended tax Modified adjusted gross income. Amended tax   To refigure miscellaneous itemized deductions of an estate or trust (Form 1041, line 15c), modified adjusted gross income is the total of the following amounts. Amended tax The adjusted gross income on the return. Amended tax The amounts from lines 3 through 5 of the worksheet. Amended tax The exemption amount from Form 1041, line 20. Amended tax The NOL deduction for the NOL year entered at the top of the worksheet and for later years. Amended tax   To refigure the casualty and theft loss deduction of an estate or trust, modified adjusted gross income is the total of the following amounts. Amended tax The adjusted gross income amount you used to figure the deduction claimed on the return. Amended tax The amounts from lines 3 through 5 of the worksheet. Amended tax The NOL deduction for the NOL year entered at the top of the worksheet and for later years. Amended tax Line 11. Amended tax   Treat your NOL deduction for the NOL year entered at the top of the worksheet and for later years as a positive amount. Amended tax Add it to your adjusted gross income. Amended tax Enter the result on line 11. Amended tax Line 20. Amended tax   Is your modified adjusted gross income from line 13 of this worksheet more than $100,000 ($50,000 if married filing separately)?   □ Yes. Amended tax Your deduction is limited. Amended tax Refigure your deduction using the Mortgage Insurance Premiums Deduction Worksheet in the 2013 Instructions for Form 1045. Amended tax On line 2 of the Mortgage Insurance Premiums Deduction Worksheet, enter the amount from line 13 of this worksheet. Amended tax   □ No. Amended tax Your deduction is not limited. Amended tax Enter the amount from line 19 on line 20 and enter -0- on line 21. Amended tax Line 23. Amended tax   If you had a contributions carryover from 2012 to 2013 and your NOL deduction includes an amount from an NOL year before 2012, you may have to reduce your contributions carryover. Amended tax Reduce the contributions carryover by the amount of any adjustment you made to your 2012 charitable contributions deduction when figuring your NOL carryover to 2013. Amended tax Use the reduced contributions carryover to figure the amount to enter on line 23. Amended tax Please click here for the text description of the image. Amended tax Worksheet for NOL Carryover Worksheet for NOL Carryover (Continued) How To Get Tax Help Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. Amended tax Free help with your tax return. Amended tax   You can get free help preparing your return nationwide from IRS-certified volunteers. Amended tax The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. Amended tax The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Amended tax Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Amended tax In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. Amended tax To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. Amended tax gov, download the IRS2Go app, or call 1-800-906-9887. Amended tax   As part of the TCE program, AARP offers the Tax-Aide counseling program. Amended tax To find the nearest AARP Tax-Aide site, visit AARP's website at www. Amended tax aarp. Amended tax org/money/taxaide or call 1-888-227-7669. Amended tax For more information on these programs, go to IRS. Amended tax gov and enter “VITA” in the search box. Amended tax Internet. Amended tax    IRS. Amended tax gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. Amended tax Download the free IRS2Go app from the iTunes app store or from Google Play. 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Amended tax The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Amended tax Use the Interactive Tax Assistant (ITA) to research your tax questions. Amended tax No need to wait on the phone or stand in line. Amended tax The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. Amended tax When you reach the response screen, you can print the entire interview and the final response for your records. Amended tax New subject areas are added on a regular basis. Amended tax  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. Amended tax gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. Amended tax You can use the IRS Tax Map to search publications and instructions by topic or keyword. 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Amended tax gov and enter Apply for an EIN in the search box. Amended tax Read the Internal Revenue Code, regulations, or other official guidance. Amended tax Read Internal Revenue Bulletins. Amended tax Sign up to receive local and national tax news and more by email. Amended tax Just click on “subscriptions” above the search box on IRS. Amended tax gov and choose from a variety of options. Amended tax Phone. Amended tax    You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Amended tax Download the free IRS2Go app from the iTunes app store or from Google Play. Amended tax Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. Amended tax gov, or download the IRS2Go app. Amended tax Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Amended tax The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Amended tax Most VITA and TCE sites offer free electronic filing. Amended tax Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Amended tax Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Amended tax Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. Amended tax If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Amended tax The IRS issues more than 9 out of 10 refunds in less than 21 days. Amended tax Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Amended tax Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. Amended tax The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Amended tax Note, the above information is for our automated hotline. Amended tax Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. Amended tax Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Amended tax You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Amended tax It can take up to 3 weeks from the date you mailed it to show up in our system. Amended tax Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). Amended tax You should receive your order within 10 business days. Amended tax Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. Amended tax If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. Amended tax Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Amended tax The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Amended tax These individuals can also contact the IRS through relay services such as the Federal Relay Service. Amended tax Walk-in. Amended tax   You can find a selection of forms, publications and services — in person. Amended tax Products. Amended tax You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Amended tax Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Amended tax Services. Amended tax You can walk in to your local TAC for face-to-face tax help. Amended tax An employee can answer questions about your tax account or help you set up a payment plan. Amended tax Before visiting, use the Office Locator tool on IRS. Amended tax gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. Amended tax Mail. Amended tax   You can send your order for forms, instructions, and publications to the address below. Amended tax You should receive a response within 10 business days after your request is received. Amended tax Internal Revenue Service 1201 N. Amended tax Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. Amended tax The Taxpayer Advocate Service (TAS) is your voice at the IRS. Amended tax Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Amended tax   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. Amended tax We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Amended tax You face (or your business is facing) an immediate threat of adverse action. Amended tax You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Amended tax   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Amended tax Here's why we can help: TAS is an independent organization within the IRS. Amended tax Our advocates know how to work with the IRS. Amended tax Our services are free and tailored to meet your needs. Amended tax We have offices in every state, the District of Columbia, and Puerto Rico. Amended tax   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. Amended tax   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Amended tax If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. Amended tax Low Income Taxpayer Clinics Low Income
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Phone Number: (202) 685-6300

The Amended Tax

Amended tax Publication 515 - Introductory Material Table of Contents Future Developments What's New Reminders IntroductionOrdering forms and publications. Amended tax Tax questions. Amended tax Useful Items - You may want to see: Future Developments For the latest information about developments related to Publication 515, such as legislation enacted after it was published, go to www. Amended tax irs. Amended tax gov/pub515. Amended tax What's New Deposit interest paid to certain nonresident alien individuals. Amended tax  New rules apply to reporting of deposit interest paid to certain nonresident alien individuals on or after January 1, 2013. Amended tax Deposit interest of $10 or more paid to certain nonresident alien individuals must be reported on Form 1042–S. Amended tax See Deposit interest paid to certain nonresident alien individuals in 2013. Amended tax Portfolio interest. Amended tax . Amended tax  The rules determining whether interest is considered portfolio interest changed for obligations issued after March 18, 2012. Amended tax Generally, interest paid on nonregistered (bearer) bonds will not be treated as portfolio interest. Amended tax See Portfolio interest. Amended tax U. Amended tax S. Amended tax real property interest. Amended tax  Generally, the treatment of a regulated investment company (RIC) as a qualified investment entity (QIE) was scheduled to expire at the end of 2011. Amended tax The provision has been extended through 2013. Amended tax The special rules that apply to distributions from a QIE attributable to the gain from the sale or exchange of a U. Amended tax S. Amended tax real property interest will continue to apply to any distribution from a RIC. Amended tax See Qualified investment entities under U. Amended tax S. Amended tax Real Property Interest. Amended tax Interest-related dividends and short-term capital gain dividends received from mutual funds. Amended tax  The exemption from withholding on certain interest-related dividends and short-term capital gain dividends paid by a mutual fund or other regulated investment company was scheduled to expire at the end of 2011. Amended tax These provisions have been extended through 2013. Amended tax Partnership withholding rate on effectively connected income. Amended tax  For 2013, the rate for withholding on noncorporate partners has increased to 39. Amended tax 6%. Amended tax The rate for corporate partners remains 35%. Amended tax Reminders Exemption from requirement to withhold for certain payments to qualified securities lenders. Amended tax  If you made U. Amended tax S. Amended tax -source substitute dividend payments to qualified securities lenders, and these payments are part of a chain of substitute dividend payments, you may be exempt from withholding tax on the payments. Amended tax See Amounts paid to qualified securities lenders . Amended tax Electronic deposits. Amended tax  You must make all deposits of taxes electronically. Amended tax Substitute forms. Amended tax  Any substitute forms you use must comply with the requirements in Publication 1179, General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, and Certain Other Information Returns. Amended tax If they do not, the forms may be rejected as incorrect and the IRS may impose penalties. Amended tax See Penalties. Amended tax Filing electronically. Amended tax  If you file Form 1042-S electronically, you will use the Filing Information Returns Electronically (FIRE) system. Amended tax You get to the system through the Internet at fire. Amended tax irs. Amended tax gov. Amended tax For files submitted on the FIRE system, it is the responsibility of the filer to verify the results of the transmission within 5 business days. Amended tax The IRS will not mail error reports for files that are bad. Amended tax Qualified intermediaries. Amended tax  A branch of a financial institution may not act as a qualified intermediary in a country that does not have approved know-your-customer rules. Amended tax See Qualified intermediary under Foreign Intermediaries. Amended tax Requests for extensions on Form 8809 must be filed electronically. Amended tax  Requests on Form 8809 for an extension of time to file Form 1042–S must be made electronically if the request is for more than one payer. Amended tax See Extension to file Form 1042-S with the IRS. Amended tax Photographs of missing children. Amended tax  The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Amended tax Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. Amended tax You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child. Amended tax Introduction This publication is for withholding agents who pay income to foreign persons, including nonresident aliens, foreign corporations, foreign partnerships, foreign trusts, foreign estates, foreign governments, and international organizations. Amended tax Specifically, it describes the persons responsible for withholding (withholding agents), the types of income subject to withholding, and the information return and tax return filing obligations of withholding agents. Amended tax In addition to discussing the rules that apply generally to payments of U. Amended tax S. Amended tax source income to foreign persons, it also contains sections on the withholding that applies to the disposition of U. Amended tax S. Amended tax real property interests and the withholding by partnerships on income effectively connected with the active conduct of a U. Amended tax S. Amended tax trade or business. Amended tax Beginning in 2014, additional withholding rules become effective under Chapter 4 of the Internal Revenue Code as added by the Foreign Account Tax Compliance Act (FATCA). Amended tax U. Amended tax S. Amended tax withholding agents will be required to withhold on certain types of payments made to foreign financial institutions that do not enter into an agreement with the IRS. Amended tax For information on these provisions, go to www. Amended tax irs. Amended tax gov/fatca. Amended tax Comments and suggestions. Amended tax   We welcome your comments about this publication and your suggestions for future editions. Amended tax   You can write to us at the following address: Internal Revenue Service Business Forms and Publications Branch SE:W:CAR:MP:T:B 1111 Constitution Ave. Amended tax NW, IR-6526 Washington, DC 20224   We respond to many letters by telephone. Amended tax Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. Amended tax   You can email us at taxforms@irs. Amended tax gov. Amended tax Please put “Publications Comment” on the subject line. Amended tax You can also send us comments from www. Amended tax irs. Amended tax gov/formspubs/. Amended tax Select “Comment on Tax Forms and Publications” under “Information About. Amended tax ”   Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products. Amended tax Ordering forms and publications. Amended tax   Visit www. Amended tax irs. Amended tax gov/formspubs/ to download forms and publications, call 1-800-TAX-FORM (1-800-829-3676), or write to the address below and receive a response within 10 days after your request is received. Amended tax Internal Revenue Service 1201 N. Amended tax Mitsubishi Motorway Bloomington, IL 61705-6613 Tax questions. Amended tax   If you have a tax question, check the information available on IRS. Amended tax gov or call 1-800-829-1040. Amended tax We cannot answer tax questions sent to either of the above addresses. Amended tax Useful Items - You may want to see: Publication 15 (Circular E), Employer's Tax Guide 15-A Employer's Supplemental Tax Guide 15-B Employer's Tax Guide to Fringe Benefits 51 (Circular A), Agricultural Employer's Tax Guide 519 U. Amended tax S. Amended tax Tax Guide for Aliens 901 U. Amended tax S. Amended tax Tax Treaties Form (and Instructions) SS-4 Application for Employer Identification Number W-2 Wage and Tax Statement W-4 Employee's Withholding Allowance Certificate W-4P Withholding Certificate for Pension or Annuity Payments W-7 Application for IRS Individual Taxpayer Identification Number W-8BEN Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding W-8ECI Certificate of Foreign Person's Claim That Income Is Effectively Connected With the Conduct of a Trade or Business in the United States W-8EXP Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding W-8IMY Certificate of Foreign Intermediary, Foreign Flow-Through Entity, or Certain U. Amended tax S. Amended tax Branches for United States Tax Withholding 941 Employer's QUARTERLY Federal Tax Return 1042 Annual Withholding Tax Return for U. Amended tax S. Amended tax Source Income of Foreign Persons 1042-S Foreign Person's U. Amended tax S. Amended tax Source Income Subject to Withholding 1042-T Annual Summary and Transmittal of Forms 1042-S See How To Get Tax Help at the end of this publication, for information about getting publications and forms. Amended tax Prev  Up  Next   Home   More Online Publications