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2011 Tax 1040 Form

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2011 Tax 1040 Form

2011 tax 1040 form Index A Additional Medicare Tax, What's New for 2013, What's New, Employment Taxes, Additional Medicare Tax. 2011 tax 1040 form Advertising, Advertising expenses. 2011 tax 1040 form Amortization Anti-abuse rule, Anti-abuse rule. 2011 tax 1040 form Anti-churning rules, Anti-Churning Rules Atmospheric pollution control facilities, Pollution Control Facilities Corporate organization costs, Costs of Organizing a Corporation Dispositions of section 197 intangibles, Disposition of Section 197 Intangibles Experimental costs, Research and Experimental Costs Geological and geophysical costs, Geological and Geophysical Costs How to deduct, How To Deduct Amortization Incorrect amount deducted, Incorrect Amount of Amortization Deducted Partnership organization costs, Costs of Organizing a Partnership Pollution control facilities, Pollution Control Facilities Reforestation costs, Reforestation Costs Reforestation expenses, Reforestation Costs Related person, Related person. 2011 tax 1040 form Research costs, Research and Experimental Costs Section 197 intangibles defined, Section 197 Intangibles Defined Start-up costs, Business Start-Up Costs Starting a businesscosts, Starting a Business Anticipated liabilities, Anticipated liabilities. 2011 tax 1040 form Assessments, local, Taxes for local benefits. 2011 tax 1040 form Assistance (see Tax help) At-risk limits, At-risk limits. 2011 tax 1040 form Attorney fees, Legal and professional fees. 2011 tax 1040 form Awards, Achievement awards. 2011 tax 1040 form , Length-of-service award. 2011 tax 1040 form , Safety achievement award. 2011 tax 1040 form B Bad debts Defined, Definition of Business Bad Debt How to treat, How To Claim a Business Bad Debt Recovery, Recovery of a Bad Debt Types of, Types of Business Bad Debts When worthless, When a Debt Becomes Worthless Bonuses Employee, Bonuses Royalties, Bonuses and advanced royalties. 2011 tax 1040 form Bribes, Bribes and kickbacks. 2011 tax 1040 form Business Assets, Business Assets Books and records, Business books and records, etc. 2011 tax 1040 form Meal expenses, Meals and Entertainment Use of car, Business use of your car. 2011 tax 1040 form , Car and truck expenses. 2011 tax 1040 form Use of home, Business use of your home. 2011 tax 1040 form C Campaign contribution, Political contributions. 2011 tax 1040 form Capital expenses, Capital Expenses, Capital versus Deductible Expenses Capitalization of interest, Capitalization of Interest Car allowance, Car allowance. 2011 tax 1040 form Car and truck expenses, Car and truck expenses. 2011 tax 1040 form Carrying charges, Carrying Charges Charitable contributions, Charitable contributions. 2011 tax 1040 form Circulation costs, newspapers and periodicals, Circulation Costs Club dues, Club dues and membership fees. 2011 tax 1040 form Comments on publication, Comments and suggestions. 2011 tax 1040 form Commitment fees, Commitment fees or standby charges. 2011 tax 1040 form Computer software, Computer software. 2011 tax 1040 form Constant-yield method, OID, Constant-yield method. 2011 tax 1040 form Contested liability, Contested liability. 2011 tax 1040 form Contributions Charitable, Charitable contributions. 2011 tax 1040 form Political, Political contributions. 2011 tax 1040 form Copyrights, Patents, copyrights, etc. 2011 tax 1040 form Cost depletion, Cost Depletion Cost of getting lease, Cost of Getting a Lease, Getting a Lease Cost of goods sold, Cost of Goods Sold Cost recovery, Cost recovery. 2011 tax 1040 form Covenant not to compete, Covenant not to compete. 2011 tax 1040 form Credit card convenience fees, Credit card convenience fees. 2011 tax 1040 form D De minimis OID, De minimis OID. 2011 tax 1040 form Debt-financed distributions, Debt-financed distribution. 2011 tax 1040 form Definitions Business bad debt, Definition of Business Bad Debt Necessary expense, What Can I Deduct? Ordinary expense, What Can I Deduct? Section 197 intangibles, Section 197 Intangibles Defined Demolition expenses, Demolition expenses or losses. 2011 tax 1040 form Depletion Mineral property, Mineral Property Oil and gas wells, Oil and Gas Wells Percentage table, Mines and other natural deposits. 2011 tax 1040 form Timber, Timber Who can claim, Who Can Claim Depletion? Depreciation (see Cost recovery) Development costs, miners, Development Costs Disabled, improvements for, Barrier Removal Costs Drilling and development costs, Intangible Drilling Costs Dues, membership, Club dues and membership fees. 2011 tax 1040 form E Economic interest, Who Can Claim Depletion? Economic performance, Economic performance. 2011 tax 1040 form Education expenses, Education Expenses, Education expenses. 2011 tax 1040 form Elderly, improvements for, Barrier Removal Costs Employee benefit programs, Employee benefit programs. 2011 tax 1040 form Employment taxes, Employment Taxes Entertainment, Reimbursement of Travel, Meals, and Entertainment Excise taxes, Excise taxes. 2011 tax 1040 form Experimentation costs, Research and Experimental Costs, Research and Experimental Costs Exploration costs, Exploration Costs F Fees Commitment, Commitment fees or standby charges. 2011 tax 1040 form Legal and professional, Legal and professional fees. 2011 tax 1040 form Regulatory, Licenses and regulatory fees. 2011 tax 1040 form Tax return preparation, Tax preparation fees. 2011 tax 1040 form Fines, Penalties and fines. 2011 tax 1040 form Forgone, Forgone interest. 2011 tax 1040 form Forgone interest, Forgone interest. 2011 tax 1040 form Form 3115, Form 3115. 2011 tax 1040 form , Changing Your Accounting Method 4562, How To Deduct Amortization 5213, Using the presumption later. 2011 tax 1040 form 8826, Disabled access credit. 2011 tax 1040 form 8885, Health coverage tax credit. 2011 tax 1040 form T, Form T. 2011 tax 1040 form Franchise, Franchise, trademark, or trade name. 2011 tax 1040 form , Franchise, trademark, trade name. 2011 tax 1040 form Franchise taxes, Franchise taxes. 2011 tax 1040 form Free tax services, Free help with your tax return. 2011 tax 1040 form Fringe benefits, Fringe Benefits Fuel taxes, Fuel taxes. 2011 tax 1040 form G Gas wells, Natural Gas Wells Geological and geophysical costs Development, oil and gas, Geological and Geophysical Costs Exploration, oil and gas, Geological and Geophysical Costs Geothermal wells, Intangible Drilling Costs, Mines and Geothermal Deposits Gifts, nominal value, Gifts of nominal value. 2011 tax 1040 form Going into business, Going Into Business, Starting a Business Goodwill, Goodwill. 2011 tax 1040 form Gross income, not-for-profit activity, Gross Income H Health insurance, deduction for self-employed, Self-Employed Health Insurance Deduction Heating equipment, Heating equipment. 2011 tax 1040 form Help (see Tax help) Home, business use of, Business use of your home. 2011 tax 1040 form I Impairment-related expenses, Impairment-related expenses. 2011 tax 1040 form Improvements, Improvements By lessee, Improvements by Lessee For disabled and elderly, Barrier Removal Costs Income taxes, Income Taxes Incorrect amount of amortization deducted, Incorrect Amount of Amortization Deducted Insurance Capitalized premiums, Capitalized Premiums Deductible premiums, Deductible Premiums Nondeductible premiums, Nondeductible Premiums Self-employed individuals, Self-Employed Health Insurance Deduction Intangible drilling costs, Intangible Drilling Costs Intangibles, amortization, Section 197 Intangibles Interest, Forgone interest. 2011 tax 1040 form Allocation of, Allocation of Interest Below-market, Below-Market Loans Business expense for, Interest Capitalized, Capitalized interest. 2011 tax 1040 form , Capitalization of Interest Carrying charge, Carrying Charges Deductible, Interest You Can Deduct Life insurance policies, Interest on loans with respect to life insurance policies. 2011 tax 1040 form Not deductible, Interest You Cannot Deduct Refunds of, Refunds of interest. 2011 tax 1040 form When to deduct, When To Deduct Interest Internet-related expenses, Internet-related expenses. 2011 tax 1040 form Interview expenses, Interview expense allowances. 2011 tax 1040 form K Key person, Who is a key person? Kickbacks, Bribes and kickbacks. 2011 tax 1040 form L Leases Canceling, Canceling a lease. 2011 tax 1040 form Cost of getting, Cost of Getting a Lease, Getting a Lease Improvements by lessee, Improvements by Lessee Leveraged, Leveraged leases. 2011 tax 1040 form Mineral, Bonuses and advanced royalties. 2011 tax 1040 form Oil and gas, Bonuses and advanced royalties. 2011 tax 1040 form Sales distinguished, Lease or purchase. 2011 tax 1040 form Taxes on, Taxes on Leased Property Legal and professional fees, Legal and professional fees. 2011 tax 1040 form Licenses, Government-granted license, permit, etc. 2011 tax 1040 form , Licenses and regulatory fees. 2011 tax 1040 form Life insurance coverage, Life insurance coverage. 2011 tax 1040 form Limit on deductions, Not-for-Profit Activities Line of credit, Line of credit (continuous borrowings). 2011 tax 1040 form Loans Below-market interestrate, Below-Market Loans Discounted, Discounted loan. 2011 tax 1040 form Loans or Advances, Loans or Advances Lobbying expenses, Lobbying expenses. 2011 tax 1040 form Long-term care insurance, Qualified long-term care insurance. 2011 tax 1040 form Losses, Limits on losses. 2011 tax 1040 form , Not-for-Profit Activities At-risk limits, At-risk limits. 2011 tax 1040 form Net operating, Net operating loss. 2011 tax 1040 form Passive activities, Passive activities. 2011 tax 1040 form M Machinery parts, Machinery parts. 2011 tax 1040 form Meals, Reimbursement of Travel, Meals, and Entertainment Meals and entertainment, Meals and Entertainment Meals and lodging, Meals and lodging. 2011 tax 1040 form Methods of accounting, When Can I Deduct an Expense? Mining Depletion, Mines and Geothermal Deposits Development costs, Development Costs Exploration costs, Exploration Costs Mortgage, Mortgage. 2011 tax 1040 form , Expenses paid to obtain a mortgage. 2011 tax 1040 form Moving expenses, machinery, Moving machinery. 2011 tax 1040 form N Natural gas, Natural Gas Wells Nonqualifying intangibles, Assets That Are Not Section 197 Intangibles Not-for-profit activities, Not-for-Profit Activities Not-for-profit activity, gross income, Gross Income O Office in home, Business use of your home. 2011 tax 1040 form Oil and gas wells Depletion, Oil and Gas Wells Drilling costs, Intangible Drilling Costs Partnerships, Partnerships and S Corporations S corporations, Partnerships and S Corporations Optional safe harbor method, Optional safe harbor method. 2011 tax 1040 form Optional write-off method Circulation costs, Optional Write-off of Certain Tax Preferences Experimental costs, Optional Write-off of Certain Tax Preferences Intangible drilling and development costs, Optional Write-off of Certain Tax Preferences Mining exploration and development costs, Optional Write-off of Certain Tax Preferences Research costs, Optional Write-off of Certain Tax Preferences Organization costs Corporate, Costs of Organizing a Corporation Partnership, Costs of Organizing a Partnership Organizational costs, Business Start-Up and Organizational Costs Original issue discount, Original issue discount (OID). 2011 tax 1040 form Outplacement services, Outplacement services. 2011 tax 1040 form P Passive activities, Passive activities. 2011 tax 1040 form Payments in kind, Payments in kind. 2011 tax 1040 form Penalties, Prepayment penalty. 2011 tax 1040 form Deductible, Penalties and fines. 2011 tax 1040 form Nondeductible, Penalties and fines. 2011 tax 1040 form Prepayment, Prepayment penalty. 2011 tax 1040 form Per diem and car allowances, Per Diem and Car Allowances Percentage depletion, Percentage Depletion Personal property tax, Personal property tax. 2011 tax 1040 form Political contributions, Political contributions. 2011 tax 1040 form Pollution control facilities, Pollution Control Facilities Prepaid expense, Prepayment. 2011 tax 1040 form Extends useful life, Prepayment. 2011 tax 1040 form Interest, Prepaid interest. 2011 tax 1040 form , Prepaid interest. 2011 tax 1040 form Rent, Rent paid in advance. 2011 tax 1040 form Prepayment penalty, Prepayment penalty. 2011 tax 1040 form Presumption of profit, Not-for-Profit Activities Publications (see Tax help) R Real estate taxes, Real Estate Taxes Recapture Exploration expenses, Recapture of exploration expenses. 2011 tax 1040 form Timber property, Recapture. 2011 tax 1040 form Recordkeeping, Partnerships and S Corporations Recovery of amount deducted, Recovery of amount deducted (tax benefit rule). 2011 tax 1040 form Refiners who cannot claim percentage depletion, Refiners who cannot claim percentage depletion. 2011 tax 1040 form Reforestation costs, Reforestation Costs, Reforestation Costs Regulatory fees, Licenses and regulatory fees. 2011 tax 1040 form Reimbursements, Reimbursements Business expenses, Reimbursements for Business Expenses Mileage, Per Diem and Car Allowances Nonaccountable plan, Nonaccountable Plans Per diem , Per Diem and Car Allowances Related persons Anti-churning rules, Related person. 2011 tax 1040 form Coal or iron ore, Disposal to related person. 2011 tax 1040 form Payments to, Related person. 2011 tax 1040 form , Related person. 2011 tax 1040 form Refiners, Related person. 2011 tax 1040 form Unreasonable rent, Unreasonable rent. 2011 tax 1040 form Removal, Retired Asset Removal Costs, Barrier Removal Costs Rent expense, capitalizing, Capitalizing Rent Expenses Repairs, Repairs. 2011 tax 1040 form Repayments (claim of right), Repayments. 2011 tax 1040 form Research costs, Research and Experimental Costs, Research and Experimental Costs Retiree drug subsidy, What's New for 2013, What's New S Sales taxes, Sales tax. 2011 tax 1040 form Section 179 expense deduction (see Cost recovery) Self-employed health insurance deduction, Self-Employed Health Insurance Deduction Self-employment tax, Self-employment tax. 2011 tax 1040 form Self-insurance, reserve for, Nondeductible Premiums Sick pay, Sick and Vacation Pay Standard meal allowance, Standard meal allowance. 2011 tax 1040 form Standard mileage rate, Car allowance. 2011 tax 1040 form (see Business use of your car) Standby charges, Commitment fees or standby charges. 2011 tax 1040 form Start-up costs, Business Start-Up and Organizational Costs, Business Start-Up Costs Subscriptions, Subscriptions. 2011 tax 1040 form Suggestions for publication, Comments and suggestions. 2011 tax 1040 form Supplies and materials, Supplies and materials. 2011 tax 1040 form T Tax help, How To Get Tax Help Tax preparation fees, Tax preparation fees. 2011 tax 1040 form Taxes, Taxes on Leased Property Carrying charge, Carrying Charges Employment, Employment Taxes Excise, Excise taxes. 2011 tax 1040 form Franchise, Franchise taxes. 2011 tax 1040 form Fuel, Fuel taxes. 2011 tax 1040 form Income, Income Taxes Leased property, Taxes on Leased Property Personal property, Personal property tax. 2011 tax 1040 form Real estate, Real Estate Taxes Sales, Sales tax. 2011 tax 1040 form Unemployment fund, Unemployment fund taxes. 2011 tax 1040 form Telephone, Telephone. 2011 tax 1040 form Timber, Reforestation Costs, Timber Tools, Tools. 2011 tax 1040 form Trademark, trade name, Franchise, trademark, or trade name. 2011 tax 1040 form , Franchise, trademark, trade name. 2011 tax 1040 form Travel, Reimbursement of Travel, Meals, and Entertainment TTY/TDD information, How To Get Tax Help U Unemployment fund taxes, Unemployment fund taxes. 2011 tax 1040 form Unpaid expenses, related person, Related person. 2011 tax 1040 form Utilities, Utilities. 2011 tax 1040 form V Vacation pay, Sick and Vacation Pay W Wages Property, Property Tests for deducting pay, Tests for Deducting Pay Welfare benefit funds, Welfare benefit funds. 2011 tax 1040 form Prev  Up     Home   More Online Publications
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The 2011 Tax 1040 Form

2011 tax 1040 form Publication 536 - Main Content Table of Contents NOL Steps How To Figure an NOLNonbusiness deductions (line 6). 2011 tax 1040 form Nonbusiness income (line 7). 2011 tax 1040 form Nonbusiness capital losses. 2011 tax 1040 form Business capital losses. 2011 tax 1040 form 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. 2011 tax 1040 form Step 1. 2011 tax 1040 form   Complete your tax return for the year. 2011 tax 1040 form You may have an NOL if a negative figure appears on the line below: Individuals — Form 1040, line 41, or Form 1040NR, line 39. 2011 tax 1040 form Estates and trusts — Form 1041, line 22. 2011 tax 1040 form   If the amount on that line is not negative, stop here — you do not have an NOL. 2011 tax 1040 form Step 2. 2011 tax 1040 form   Determine whether you have an NOL and its amount. 2011 tax 1040 form See How To Figure an NOL , later. 2011 tax 1040 form If you do not have an NOL, stop here. 2011 tax 1040 form Step 3. 2011 tax 1040 form   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. 2011 tax 1040 form See When To Use an NOL , later. 2011 tax 1040 form Step 4. 2011 tax 1040 form   Deduct the NOL in the carryback or carryforward year. 2011 tax 1040 form See How To Claim an NOL Deduction , later. 2011 tax 1040 form If your NOL deduction is equal to or less than your taxable income without the deduction, stop here — you have used up your NOL. 2011 tax 1040 form Step 5. 2011 tax 1040 form   Determine the amount of your unused NOL. 2011 tax 1040 form See How To Figure an NOL Carryover , later. 2011 tax 1040 form Carry over the unused NOL to the next carryback or carryforward year and begin again at Step 4. 2011 tax 1040 form Note. 2011 tax 1040 form   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. 2011 tax 1040 form How To Figure an NOL If your deductions for the year are more than your income for the year, you may have an NOL. 2011 tax 1040 form There are rules that limit what you can deduct when figuring an NOL. 2011 tax 1040 form In general, the following items are not allowed when figuring an NOL. 2011 tax 1040 form Any deduction for personal exemptions. 2011 tax 1040 form Capital losses in excess of capital gains. 2011 tax 1040 form The section 1202 exclusion of the gain from the sale or exchange of qualified small business stock. 2011 tax 1040 form Nonbusiness deductions in excess of nonbusiness income. 2011 tax 1040 form The net operating loss deduction. 2011 tax 1040 form The domestic production activities deduction. 2011 tax 1040 form Form 1045, Schedule A. 2011 tax 1040 form   Use Form 1045, Schedule A, to figure an NOL. 2011 tax 1040 form The following discussion explains Schedule A and includes an illustrated example. 2011 tax 1040 form   First, complete Form 1045, Schedule A, line 1, using amounts from your return. 2011 tax 1040 form If line 1 is a negative amount, you may have an NOL. 2011 tax 1040 form   Next, complete the rest of Form 1045, Schedule A, to figure your NOL. 2011 tax 1040 form Nonbusiness deductions (line 6). 2011 tax 1040 form   Enter on line 6 deductions that are not connected to your trade or business or your employment. 2011 tax 1040 form 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. 2011 tax 1040 form   Do not include on line 6 the deduction for personal exemptions for you, your spouse, or your dependents. 2011 tax 1040 form   Do not enter business deductions on line 6. 2011 tax 1040 form These are deductions that are connected to your trade or business. 2011 tax 1040 form They include the following. 2011 tax 1040 form State income tax on income attributable to trade or business (including wages, salary, and unemployment compensation). 2011 tax 1040 form Moving expenses. 2011 tax 1040 form Educator expenses. 2011 tax 1040 form The deduction for the deductible part of self-employed health insurance. 2011 tax 1040 form Domestic production activities deduction. 2011 tax 1040 form Rental losses. 2011 tax 1040 form Loss on the sale or exchange of business real estate or depreciable property. 2011 tax 1040 form Your share of a business loss from a partnership or an S corporation. 2011 tax 1040 form Ordinary loss on the sale or exchange of stock in a small business corporation or a small business investment company. 2011 tax 1040 form 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). 2011 tax 1040 form Loss on the sale of accounts receivable (if you use an accrual method of accounting). 2011 tax 1040 form Interest and litigation expenses on state and federal income taxes related to your business. 2011 tax 1040 form Unrecovered investment in a pension or annuity claimed on a decedent's final return. 2011 tax 1040 form Payment by a federal employee to buy back sick leave used in an earlier year. 2011 tax 1040 form Nonbusiness income (line 7). 2011 tax 1040 form   Enter on line 7 only income that is not related to your trade or business or your employment. 2011 tax 1040 form For example, enter your annuity income, dividends, and interest on investments. 2011 tax 1040 form Also, include your share of nonbusiness income from partnerships and S corporations. 2011 tax 1040 form   Do not include on line 7 the income you receive from your trade or business or your employment. 2011 tax 1040 form 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. 2011 tax 1040 form Also, do not include rental income or ordinary gain from the sale or other disposition of business real estate or depreciable business property. 2011 tax 1040 form Adjustment for section 1202 exclusion (line 17). 2011 tax 1040 form   Enter on line 17 any gain you excluded under section 1202 on the sale or exchange of qualified small business stock. 2011 tax 1040 form Adjustments for capital losses (lines 19–22). 2011 tax 1040 form   The amount deductible for capital losses is limited based on whether the losses are business capital losses or nonbusiness capital losses. 2011 tax 1040 form Nonbusiness capital losses. 2011 tax 1040 form   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). 2011 tax 1040 form If your nonbusiness capital losses are more than your nonbusiness capital gains without regard to any section 1202 exclusion, you cannot deduct the excess. 2011 tax 1040 form Business capital losses. 2011 tax 1040 form   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). 2011 tax 1040 form Domestic production activities deduction (line 23). 2011 tax 1040 form   You cannot take the domestic production activities deduction when figuring your NOL. 2011 tax 1040 form Enter on line 23 any domestic production activities deduction claimed on your return. 2011 tax 1040 form NOLs from other years (line 24). 2011 tax 1040 form   You cannot deduct any NOL carryovers or carrybacks from other years. 2011 tax 1040 form Enter the total amount of your NOL deduction for losses from other years. 2011 tax 1040 form Illustrated Form 1045, Schedule A The following example illustrates how to figure an NOL. 2011 tax 1040 form It includes filled-in pages 1 and 2 of Form 1040 and Form 1045, Schedule A. 2011 tax 1040 form Example. 2011 tax 1040 form Glenn Johnson is in the retail record business. 2011 tax 1040 form He is single and has the following income and deductions on his Form 1040 for 2013. 2011 tax 1040 form See the illustrated Form 1040 , later. 2011 tax 1040 form 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). 2011 tax 1040 form However, to figure whether he has an NOL, certain deductions are not allowed. 2011 tax 1040 form He uses Form 1045, Schedule A, to figure his NOL. 2011 tax 1040 form See the Illustrated Form 1045, Schedule A , later. 2011 tax 1040 form The following items are not allowed on Form 1045, Schedule A. 2011 tax 1040 form 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. 2011 tax 1040 form Please click the link to view the image. 2011 tax 1040 form Form 1040, page 1 This image is too large to be displayed in the current screen. 2011 tax 1040 form Please click the link to view the image. 2011 tax 1040 form Form 1040, page 2 This image is too large to be displayed in the current screen. 2011 tax 1040 form Please click the link to view the image. 2011 tax 1040 form 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). 2011 tax 1040 form You can, however, choose not to carry back an NOL and only carry it forward. 2011 tax 1040 form See Waiving the Carryback Period , later. 2011 tax 1040 form You cannot deduct any part of the NOL remaining after the 20-year carryforward period. 2011 tax 1040 form NOL year. 2011 tax 1040 form   This is the year in which the NOL occurred. 2011 tax 1040 form 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. 2011 tax 1040 form Eligible loss. 2011 tax 1040 form   The carryback period for eligible losses is 3 years. 2011 tax 1040 form Only the eligible loss portion of the NOL can be carried back 3 years. 2011 tax 1040 form 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. 2011 tax 1040 form Qualified small business. 2011 tax 1040 form   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. 2011 tax 1040 form If the business did not exist for this entire 3-year period, use the period the business was in existence. 2011 tax 1040 form   An eligible loss does not include a farming loss or a qualified disaster loss. 2011 tax 1040 form Farming loss. 2011 tax 1040 form   The carryback period for a farming loss is 5 years. 2011 tax 1040 form Only the farming loss portion of the NOL can be carried back 5 years. 2011 tax 1040 form 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. 2011 tax 1040 form Farming business. 2011 tax 1040 form   A farming business is a trade or business involving cultivation of land or the raising or harvesting of any agricultural or horticultural commodity. 2011 tax 1040 form 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. 2011 tax 1040 form The raising, shearing, feeding, caring for, training, and management of animals is also considered a farming business. 2011 tax 1040 form   A farming business does not include contract harvesting of an agricultural or horticultural commodity grown or raised by someone else. 2011 tax 1040 form It also does not include a business in which you merely buy or sell plants or animals grown or raised entirely by someone else. 2011 tax 1040 form Waiving the 5-year carryback. 2011 tax 1040 form   You can choose to figure the carryback period for a farming loss without regard to the special 5-year carryback rule. 2011 tax 1040 form 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. 2011 tax 1040 form 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). 2011 tax 1040 form Attach an election statement to your amended return, and write “Filed pursuant to section 301. 2011 tax 1040 form 9100-2” at the top of the statement. 2011 tax 1040 form Once made, this choice is irrevocable. 2011 tax 1040 form Qualified disaster loss. 2011 tax 1040 form   The carryback period for a qualified disaster loss is 5 years. 2011 tax 1040 form Only the qualified disaster loss portion of the NOL can be carried back 5 years. 2011 tax 1040 form 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. 2011 tax 1040 form Qualified disaster expenses. 2011 tax 1040 form   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. 2011 tax 1040 form Business-related property is property held for use in a trade or business, property held for the production of income, or inventory property. 2011 tax 1040 form Note. 2011 tax 1040 form Section 198A allows taxpayers to treat certain capital expenses (qualified disaster expenses) as deductions in the year the expenses were paid or incurred. 2011 tax 1040 form Excluded losses. 2011 tax 1040 form   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. 2011 tax 1040 form   A qualified disaster loss also does not include any losses from any gambling or animal racing property. 2011 tax 1040 form 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. 2011 tax 1040 form Specified liability loss. 2011 tax 1040 form   The carryback period for a specified liability loss is 10 years. 2011 tax 1040 form Only the specified liability loss portion of the NOL can be carried back 10 years. 2011 tax 1040 form 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. 2011 tax 1040 form   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. 2011 tax 1040 form For details, see section 172(f). 2011 tax 1040 form Waiving the 10-year carryback. 2011 tax 1040 form   You can choose to figure the carryback period for a specified liability loss without regard to the special 10-year carryback rule. 2011 tax 1040 form 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. 2011 tax 1040 form 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). 2011 tax 1040 form Attach a statement to your amended return and write “Filed pursuant to section 301. 2011 tax 1040 form 9100-2” at the top of the statement. 2011 tax 1040 form Once made, this choice is irrevocable. 2011 tax 1040 form Waiving the Carryback Period You can choose not to carry back your NOL. 2011 tax 1040 form If you make this choice, then you can use your NOL only in the 20-year carryforward period. 2011 tax 1040 form (This choice means you also choose not to carry back any alternative tax NOL. 2011 tax 1040 form ) To make this choice, attach a statement to your original return filed by the due date (including extensions) for the NOL year. 2011 tax 1040 form This statement must show that you are choosing to waive the carryback period under section 172(b)(3). 2011 tax 1040 form 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). 2011 tax 1040 form Attach a statement to your amended return, and write “Filed pursuant to section 301. 2011 tax 1040 form 9100-2” at the top of the statement. 2011 tax 1040 form Once you choose to waive the carryback period, it generally is irrevocable. 2011 tax 1040 form 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. 2011 tax 1040 form If you do not file this statement on time, you cannot waive the carryback period. 2011 tax 1040 form 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. 2011 tax 1040 form If your NOL is not used up, you can carry the rest to the next earliest carryback year, and so on. 2011 tax 1040 form 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. 2011 tax 1040 form Start by carrying it to the first tax year after the NOL year. 2011 tax 1040 form If you do not use it up, carry the unused part to the next year. 2011 tax 1040 form Continue to carry any unused part of the NOL forward until the NOL is used up or you complete the 20-year carryforward period. 2011 tax 1040 form Example 1. 2011 tax 1040 form You started your business as a sole proprietor in 2013 and had a $42,000 NOL for the year. 2011 tax 1040 form No part of the NOL qualifies for the 3-year, 5-year, or 10-year carryback. 2011 tax 1040 form You begin using your NOL in 2011, the second year before the NOL year, as shown in the following chart. 2011 tax 1040 form 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. 2011 tax 1040 form If you still had an unused 2013 carryforward after the year 2033, you would not be allowed to deduct it. 2011 tax 1040 form Example 2. 2011 tax 1040 form 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. 2011 tax 1040 form You begin using the $4,000 in 2010. 2011 tax 1040 form As shown in the following chart, $3,000 of this NOL is used in 2010. 2011 tax 1040 form The remaining $1,000 is carried to 2011 with the $38,000 NOL that you must begin using in 2011. 2011 tax 1040 form 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. 2011 tax 1040 form 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. 2011 tax 1040 form If you carry more than one NOL to the same year, your NOL deduction is the total of these carrybacks and carryovers. 2011 tax 1040 form NOL resulting in no taxable income. 2011 tax 1040 form   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. 2011 tax 1040 form 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. 2011 tax 1040 form Deducting a Carryback If you carry back your NOL, you can use either Form 1045 or Form 1040X. 2011 tax 1040 form You can get your refund faster by using Form 1045, but you have a shorter time to file it. 2011 tax 1040 form You can use Form 1045 to apply an NOL to all carryback years. 2011 tax 1040 form If you use Form 1040X, you must use a separate Form 1040X for each carryback year to which you apply the NOL. 2011 tax 1040 form 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. 2011 tax 1040 form Use a copy of the appropriate year's Form 1041, check the “Amended return” box, and follow the Form 1041 instructions for amended returns. 2011 tax 1040 form Include the NOL deduction with other deductions not subject to the 2% limit (line 15a). 2011 tax 1040 form Also, see the special procedures for filing an amended return due to an NOL carryback, explained under Form 1040X , later. 2011 tax 1040 form Form 1045. 2011 tax 1040 form   You can apply for a quick refund by filing Form 1045. 2011 tax 1040 form This form results in a tentative adjustment of tax in the carryback year. 2011 tax 1040 form See the Illustrated Form 1045 . 2011 tax 1040 form at the end of this discussion. 2011 tax 1040 form   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. 2011 tax 1040 form   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. 2011 tax 1040 form 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. 2011 tax 1040 form 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. 2011 tax 1040 form Form 1040X. 2011 tax 1040 form   If you do not file Form 1045, you can file Form 1040X to get a refund of tax because of an NOL carryback. 2011 tax 1040 form File Form 1040X within 3 years after the due date, including extensions, for filing the return for the NOL year. 2011 tax 1040 form 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. 2011 tax 1040 form   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 . 2011 tax 1040 form Refiguring your tax. 2011 tax 1040 form   To refigure your total tax liability for a carryback year, first refigure your adjusted gross income for that year. 2011 tax 1040 form (On Form 1045, use lines 10 and 11 and the “After carryback” column for the applicable carryback year. 2011 tax 1040 form ) 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. 2011 tax 1040 form Refigure the following items. 2011 tax 1040 form The special allowance for passive activity losses from rental real estate activities. 2011 tax 1040 form Taxable social security and tier 1 railroad retirement benefits. 2011 tax 1040 form IRA deductions. 2011 tax 1040 form Excludable savings bond interest. 2011 tax 1040 form Excludable employer-provided adoption benefits. 2011 tax 1040 form The student loan interest deduction. 2011 tax 1040 form The tuition and fees deduction. 2011 tax 1040 form   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. 2011 tax 1040 form (Enter your NOL deduction on Form 1045, line 10. 2011 tax 1040 form 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. 2011 tax 1040 form )   Next, refigure your taxable income. 2011 tax 1040 form (On Form 1045, use lines 12 through 15 and the “After carryback” column. 2011 tax 1040 form ) 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. 2011 tax 1040 form Refigure the following items. 2011 tax 1040 form The itemized deduction for medical expenses. 2011 tax 1040 form The itemized deduction for qualified mortgage insurance premiums. 2011 tax 1040 form The itemized deduction for casualty losses. 2011 tax 1040 form Miscellaneous itemized deductions subject to the 2% limit. 2011 tax 1040 form The overall limit on itemized deductions (do not apply to carryback years beginning after December 31, 2009). 2011 tax 1040 form The phaseout of the deduction for exemptions (do not apply to carryback years beginning after December 31, 2009). 2011 tax 1040 form Qualified motor vehicle tax (do not apply to carryback years beginning after December 31, 2009). 2011 tax 1040 form    Do not refigure the itemized deduction for charitable contributions. 2011 tax 1040 form   Finally, use your refigured taxable income (Form 1045, line 15, using the “After carryback” column) to refigure your total tax liability. 2011 tax 1040 form 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. 2011 tax 1040 form (On Form 1045, use lines 16 through 25, and the “After carryback” column. 2011 tax 1040 form ) 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. 2011 tax 1040 form 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. 2011 tax 1040 form   While it is necessary to refigure your income tax, alternative minimum tax, and credits, do not refigure your self-employment tax. 2011 tax 1040 form 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). 2011 tax 1040 form Estates and trusts include an NOL deduction on Form 1041 with other deductions not subject to the 2% limit (line 15a for 2013). 2011 tax 1040 form You must attach a statement that shows all the important facts about the NOL. 2011 tax 1040 form Your statement should include a computation showing how you figured the NOL deduction. 2011 tax 1040 form If you deduct more than one NOL in the same year, your statement must cover each of them. 2011 tax 1040 form 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. 2011 tax 1040 form If you file a joint return, the NOL deduction is limited to the income of that spouse. 2011 tax 1040 form 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. 2011 tax 1040 form After you deduct the NOL in the carryback year, the joint rates apply to the resulting taxable income. 2011 tax 1040 form Refund limit. 2011 tax 1040 form   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. 2011 tax 1040 form 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. 2011 tax 1040 form The refund cannot be more than the joint overpayment. 2011 tax 1040 form Attach a statement showing how you figured your refund. 2011 tax 1040 form Figuring your share of a joint tax liability. 2011 tax 1040 form   There are five steps for figuring your share of the refigured joint tax liability. 2011 tax 1040 form Figure your total tax as though you had filed as married filing separately. 2011 tax 1040 form Figure your spouse's total tax as though your spouse had also filed as married filing separately. 2011 tax 1040 form Add the amounts in (1) and (2). 2011 tax 1040 form Divide the amount in (1) by the amount in (3). 2011 tax 1040 form Multiply the refigured tax on your joint return by the amount figured in (4). 2011 tax 1040 form This is your share of the joint tax liability. 2011 tax 1040 form Figuring your contribution toward tax paid. 2011 tax 1040 form   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. 2011 tax 1040 form If the original return for the carryback year resulted in an overpayment, reduce your contribution by your share of the tax refund. 2011 tax 1040 form Figure your share of a joint payment or refund by the same method used in figuring your share of the joint tax liability. 2011 tax 1040 form 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). 2011 tax 1040 form 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. 2011 tax 1040 form However, treat the NOL deduction as a joint NOL. 2011 tax 1040 form 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. 2011 tax 1040 form 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. 2011 tax 1040 form Separate to joint return. 2011 tax 1040 form   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. 2011 tax 1040 form Joint to separate returns. 2011 tax 1040 form   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. 2011 tax 1040 form Joint return in NOL year. 2011 tax 1040 form   Figure each spouse's share of the joint NOL through the following steps. 2011 tax 1040 form Figure each spouse's NOL as if he or she filed a separate return. 2011 tax 1040 form See How To Figure an NOL , earlier. 2011 tax 1040 form If only one spouse has an NOL, stop here. 2011 tax 1040 form All of the joint NOL is that spouse's NOL. 2011 tax 1040 form 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). 2011 tax 1040 form The result is spouse A's share of the joint NOL. 2011 tax 1040 form The rest of the joint NOL is spouse B's share. 2011 tax 1040 form Example 1. 2011 tax 1040 form Mark and Nancy are married and file a joint return for 2013. 2011 tax 1040 form They have an NOL of $5,000. 2011 tax 1040 form They carry the NOL back to 2011, a year in which Mark and Nancy filed separate returns. 2011 tax 1040 form Figured separately, Nancy's 2013 deductions were more than her income, and Mark's income was more than his deductions. 2011 tax 1040 form Mark does not have any NOL to carry back. 2011 tax 1040 form Nancy can carry back the entire $5,000 NOL to her 2011 separate return. 2011 tax 1040 form Example 2. 2011 tax 1040 form Assume the same facts as in Example 1 , except that both Mark and Nancy had deductions in 2013 that were more than their income. 2011 tax 1040 form Figured separately, his NOL is $1,800 and her NOL is $3,000. 2011 tax 1040 form 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. 2011 tax 1040 form The loss is allowed in figuring their joint NOL because it was offset by Nancy's capital gains. 2011 tax 1040 form 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). 2011 tax 1040 form Joint return in previous carryback or carryforward year. 2011 tax 1040 form   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. 2011 tax 1040 form 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. 2011 tax 1040 form Figure each spouse's modified taxable income as if he or she filed a separate return. 2011 tax 1040 form See Modified taxable income under How To Figure an NOL Carryover , later. 2011 tax 1040 form 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). 2011 tax 1040 form This is spouse A's share of the joint modified taxable income. 2011 tax 1040 form Subtract the amount figured in (2) from the joint modified taxable income. 2011 tax 1040 form This is spouse B's share of the joint modified taxable income. 2011 tax 1040 form Reduce the amount figured in (3), but not below zero, by spouse B's NOL deduction. 2011 tax 1040 form Add the amounts figured in (2) and (4). 2011 tax 1040 form Subtract the amount figured in (5) from spouse A's NOL deduction. 2011 tax 1040 form This is spouse A's share of the joint carryover. 2011 tax 1040 form The rest of the joint carryover is spouse B's share. 2011 tax 1040 form Example. 2011 tax 1040 form Sam and Wanda filed a joint return for 2011 and separate returns for 2012 and 2013. 2011 tax 1040 form In 2013, Sam had an NOL of $18,000 and Wanda had an NOL of $2,000. 2011 tax 1040 form They choose to carry back both NOLs 2 years to their 2011 joint return and claim a $20,000 NOL deduction. 2011 tax 1040 form 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). 2011 tax 1040 form Sam and Wanda each figure their separate MTI for 2011 as if they had filed separate returns. 2011 tax 1040 form Then they figure their shares of the $5,000 carryover as follows. 2011 tax 1040 form Step 1. 2011 tax 1040 form   Sam's separate MTI $9,000 Wanda's separate MTI + 3,000 Total MTI $12,000 Step 2. 2011 tax 1040 form   Joint MTI $15,000 Sam's MTI ÷ total MTI ($9,000 ÷ $12,000) × . 2011 tax 1040 form 75 Sam's share of joint MTI $11,250 Step 3. 2011 tax 1040 form   Joint MTI $15,000 Sam's share of joint MTI − 11,250 Wanda's share of joint MTI $3,750 Step 4. 2011 tax 1040 form   Wanda's share of joint MTI $3,750 Wanda's NOL deduction − 2,000 Wanda's remaining share $1,750 Step 5. 2011 tax 1040 form   Sam's share of joint MTI $11,250 Wanda's remaining share + 1,750 Joint MTI to be offset $13,000 Step 6. 2011 tax 1040 form   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. 2011 tax 1040 form She has no carryover to 2012. 2011 tax 1040 form 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. 2011 tax 1040 form His carryover to 2012 is $5,000. 2011 tax 1040 form Illustrated Form 1045 The following example illustrates how to use Form 1045 to claim an NOL deduction in a carryback year. 2011 tax 1040 form It includes a filled-in page 1 of Form 1045. 2011 tax 1040 form Example. 2011 tax 1040 form Martha Sanders is a self-employed contractor. 2011 tax 1040 form Martha's 2013 deductions are more than her 2013 income because of a business loss. 2011 tax 1040 form She uses Form 1045 to carry back her NOL 2 years and claim an NOL deduction in 2011. 2011 tax 1040 form Her filing status in both years was single. 2011 tax 1040 form See the filled-in Form 1045 later. 2011 tax 1040 form Martha figures her 2013 NOL on Form 1045, Schedule A (not shown). 2011 tax 1040 form (For an example using Form 1045, Schedule A, see Illustrated Form 1045, Schedule A under How To Figure an NOL , earlier. 2011 tax 1040 form ) She enters the $10,000 NOL from Form 1045, Schedule A, line 25, on Form 1045, line 1a. 2011 tax 1040 form 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. 2011 tax 1040 form 2011 Adjusted gross income $50,000 Itemized deductions:     Medical expenses [$6,000 − ($50,000 × 7. 2011 tax 1040 form 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. 2011 tax 1040 form 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. 2011 tax 1040 form On line 10, Martha enters her $10,000 NOL deduction. 2011 tax 1040 form Her new adjusted gross income on line 11 is $40,000 ($50,000 − $10,000). 2011 tax 1040 form To complete line 12, she must refigure her medical expense deduction using her new adjusted gross income. 2011 tax 1040 form Her refigured medical expense deduction is $3,000 [$6,000 − ($40,000 × 7. 2011 tax 1040 form 5%)]. 2011 tax 1040 form This increases her total itemized deductions to $14,000 [$13,250 + ($3,000 − $2,250)]. 2011 tax 1040 form 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. 2011 tax 1040 form She enters the new amount, $2,924, on line 16, and her new total tax liability, $9,044, on line 25. 2011 tax 1040 form 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. 2011 tax 1040 form The decrease in tax because of her NOL deduction (line 27) is $1,612. 2011 tax 1040 form Martha files Form 1045 after filing her 2013 return, but no later than December 31, 2014. 2011 tax 1040 form 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). 2011 tax 1040 form This image is too large to be displayed in the current screen. 2011 tax 1040 form Please click the link to view the image. 2011 tax 1040 form 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. 2011 tax 1040 form 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. 2011 tax 1040 form Your carryover is the excess of your NOL deduction over your modified taxable income for the carryback or carryforward year. 2011 tax 1040 form 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. 2011 tax 1040 form Modified taxable income. 2011 tax 1040 form   Your modified taxable income is your taxable income figured with the following changes. 2011 tax 1040 form You cannot claim an NOL deduction for the NOL carryover you are figuring or for any later NOL. 2011 tax 1040 form You cannot claim a deduction for capital losses in excess of your capital gains. 2011 tax 1040 form Also, you must increase your taxable income by the amount of any section 1202 exclusion. 2011 tax 1040 form You cannot claim the domestic production activities deduction. 2011 tax 1040 form You cannot claim a deduction for your exemptions for yourself, your spouse, or dependents. 2011 tax 1040 form 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). 2011 tax 1040 form This includes income and deduction items used to figure adjusted gross income (for example, IRA deductions), as well as certain itemized deductions. 2011 tax 1040 form 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. 2011 tax 1040 form   Your taxable income as modified cannot be less than zero. 2011 tax 1040 form Form 1045, Schedule B. 2011 tax 1040 form   You can use Form 1045, Schedule B, to figure your modified taxable income for carryback years and your carryover from each of those years. 2011 tax 1040 form Do not use Form 1045, Schedule B, for a carryforward year. 2011 tax 1040 form 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. 2011 tax 1040 form Illustrated Form 1045, Schedule B The following example illustrates how to figure an NOL carryover from a carryback year. 2011 tax 1040 form It includes a filled-in Form 1045, Schedule B. 2011 tax 1040 form Example. 2011 tax 1040 form Ida Brown runs a small clothing shop. 2011 tax 1040 form In 2013, she has an NOL of $36,000 that she carries back to 2011. 2011 tax 1040 form She has no other carrybacks or carryforwards to 2011. 2011 tax 1040 form Ida's adjusted gross income in 2011 was $35,000, consisting of her salary of $36,000 minus a $1,000 capital loss deduction. 2011 tax 1040 form She is single and claimed only one personal exemption of $3,700. 2011 tax 1040 form During that year, she gave $1,450 in charitable contributions. 2011 tax 1040 form Her medical expenses were $3,000. 2011 tax 1040 form She also deducted $1,650 in taxes and $3,125 in home mortgage interest. 2011 tax 1040 form Her deduction for charitable contributions was not limited because her contributions, $1,450, were less than 50% of her adjusted gross income. 2011 tax 1040 form The deduction for medical expenses was limited to expenses over 7. 2011 tax 1040 form 5% of adjusted gross income (. 2011 tax 1040 form 075 × $35,000 = $2,625; $3,000 − $2,625 = $375). 2011 tax 1040 form The deductions for taxes and home mortgage interest were not subject to any limits. 2011 tax 1040 form 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. 2011 tax 1040 form She had no other deductions in 2011 (except the NOL deduction). 2011 tax 1040 form Her taxable income (figured without the NOL deduction) for the year was $24,700. 2011 tax 1040 form 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. 2011 tax 1040 form She did not itemize her deductions in 2012. 2011 tax 1040 form She deducted the standard deduction of $5,950 and the personal exemption deduction of $3,800. 2011 tax 1040 form She had no other deductions in 2012 (other than the NOL deduction). 2011 tax 1040 form Her taxable income, therefore, was ($425). 2011 tax 1040 form Ida's $36,000 carryback will result in her having 2011 taxable income of zero. 2011 tax 1040 form 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. 2011 tax 1040 form She completes the column for the first preceding tax year ended 12/31/12. 2011 tax 1040 form See the illustrated Form 1045, Schedule B , shown later. 2011 tax 1040 form Column 1, line 1. 2011 tax 1040 form Ida enters $36,000, her 2013 net operating loss, on line 1. 2011 tax 1040 form Column 1, line 2. 2011 tax 1040 form She enters $24,700, her 2011 taxable income (figured without the NOL deduction), on line 2. 2011 tax 1040 form Column 1, line 3. 2011 tax 1040 form Ida enters her net capital loss deduction of $1,000 on line 3. 2011 tax 1040 form Column 1, lines 4 and 5. 2011 tax 1040 form Ida had no section 1202 exclusion or domestic production activities deduction in 2011. 2011 tax 1040 form She enters zero on lines 4 and 5. 2011 tax 1040 form Column 1, line 6. 2011 tax 1040 form 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. 2011 tax 1040 form Ida enters zero on line 6. 2011 tax 1040 form Column 1, line 7. 2011 tax 1040 form 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. 2011 tax 1040 form On line 7, she enters the total adjustment from line 38. 2011 tax 1040 form Column 1, line 8. 2011 tax 1040 form Ida enters the deduction for her personal exemption of $3,700 for 2011. 2011 tax 1040 form Column 1, line 9. 2011 tax 1040 form After combining lines 2 through 8, Ida's modified taxable income is $29,475. 2011 tax 1040 form Column 1, line 10. 2011 tax 1040 form Ida figures her carryover to 2012 by subtracting her modified taxable income (line 9) from her NOL deduction (line 1). 2011 tax 1040 form She enters the $6,525 carryover on line 10. 2011 tax 1040 form 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. 2011 tax 1040 form (For an illustrated example of page 1 of Form 1045, see Illustrated Form 1045 under How To Claim an NOL Deduction , earlier. 2011 tax 1040 form ) Next, Ida completes column 2 for the first preceding tax year ended 12/31/12. 2011 tax 1040 form Column 1, line 11. 2011 tax 1040 form Ida's adjusted gross income for 2011 was $35,000. 2011 tax 1040 form Column 1, line 12. 2011 tax 1040 form She adds lines 3 through 6 and enters $1,000 on line 12. 2011 tax 1040 form (This is her net capital loss deduction added back, which modifies her adjusted gross income. 2011 tax 1040 form ) Column 1, line 13. 2011 tax 1040 form Her modified adjusted gross income for 2011 is now $36,000. 2011 tax 1040 form Column 1, line 14. 2011 tax 1040 form On her 2011 tax return, she deducted $375 as medical expenses. 2011 tax 1040 form Column 1, line 15. 2011 tax 1040 form Her actual medical expenses were $3,000. 2011 tax 1040 form Column 1, line 16. 2011 tax 1040 form She multiplies her modified adjusted gross income, $36,000, by . 2011 tax 1040 form 075. 2011 tax 1040 form She enters $2,700 on line 16. 2011 tax 1040 form Column 1, line 17. 2011 tax 1040 form She substracts $2,700 from her actual medical expenses, $3,000. 2011 tax 1040 form She enters $300 on line 17. 2011 tax 1040 form This is her modified medical deduction. 2011 tax 1040 form Column 1, line 18. 2011 tax 1040 form The difference between her medical deduction and her modified medical deduction is $75. 2011 tax 1040 form She enters this on line 18. 2011 tax 1040 form Column 1, lines 19 through 21. 2011 tax 1040 form Ida had no deduction for qualified mortgage insurance premiums in 2011. 2011 tax 1040 form She skips lines 19 and 20 and enters zero on line 21. 2011 tax 1040 form Column 1, line 22. 2011 tax 1040 form She enters her modified adjusted gross income of $36,000 on line 22. 2011 tax 1040 form Column 1, line 23. 2011 tax 1040 form She had no other carrybacks to 2011 and enters zero on line 23. 2011 tax 1040 form Column 1, line 24. 2011 tax 1040 form Her modified adjusted gross income remains $36,000. 2011 tax 1040 form Column 1, line 25. 2011 tax 1040 form Her actual contributions for 2011 were $1,450, which she enters on line 25. 2011 tax 1040 form Column 1, line 26. 2011 tax 1040 form She now refigures her charitable contributions based on her modified adjusted gross income. 2011 tax 1040 form Her contributions are well below the 50% limit, so she enters $1,450 on line 26. 2011 tax 1040 form Column 1, line 27. 2011 tax 1040 form The difference is zero. 2011 tax 1040 form Column 1, lines 28 through 37. 2011 tax 1040 form Ida had no casualty losses or deductions for miscellaneous items in 2011. 2011 tax 1040 form She skips lines 28 through 31 and lines 33 through 36. 2011 tax 1040 form Ida enters zero on lines 32 and 37. 2011 tax 1040 form Column 1, line 38. 2011 tax 1040 form She combines lines 18, 21, 27, 32, and 37 and enters $75 on line 38. 2011 tax 1040 form She carries this figure to line 7. 2011 tax 1040 form Column 2, line 1. 2011 tax 1040 form Ida enters $6,525, the carryback of her 2013 NOL to 2012, from column 1, line 10, on line 1. 2011 tax 1040 form Column 2, line 2. 2011 tax 1040 form She enters ($425), her 2012 taxable income, on line 2. 2011 tax 1040 form Column 2, line 3. 2011 tax 1040 form Ida enters her net capital loss deduction of $3,000 on line 3. 2011 tax 1040 form Column 2, lines 4 and 5. 2011 tax 1040 form Ida had no section 1202 exclusion or domestic production activities deduction in 2012. 2011 tax 1040 form She enters zero on lines 4 and 5. 2011 tax 1040 form Column 2, line 6. 2011 tax 1040 form 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. 2011 tax 1040 form Ida enters zero on line 6. 2011 tax 1040 form Column 2, line 7. 2011 tax 1040 form Because Ida did not itemize deductions on her 2012 tax return, she enters zero on line 7. 2011 tax 1040 form Column 2, line 8. 2011 tax 1040 form Ida enters the deduction for her personal exemption of $3,800 for 2012. 2011 tax 1040 form Column 2, line 9. 2011 tax 1040 form After combining lines 2 through 8, Ida's modified taxable income is $6,375. 2011 tax 1040 form Column 2, line 10. 2011 tax 1040 form Ida figures her carryforward to 2014 by subtracting her modified taxable income (line 9) from her NOL deduction (line 1). 2011 tax 1040 form She enters the $150 carryover on line 10. 2011 tax 1040 form This image is too large to be displayed in the current screen. 2011 tax 1040 form Please click the link to view the image. 2011 tax 1040 form Form 1045, page 3 This image is too large to be displayed in the current screen. 2011 tax 1040 form Please click the link to view the image. 2011 tax 1040 form 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. 2011 tax 1040 form It will help you figure your NOL to carry to 2014. 2011 tax 1040 form Keep the worksheet for your records. 2011 tax 1040 form Worksheet Instructions At the top of the worksheet, enter the NOL year for which you are figuring the carryover. 2011 tax 1040 form More than one NOL. 2011 tax 1040 form   If your 2013 NOL deduction includes amounts for more than one loss year, complete this worksheet only for one loss year. 2011 tax 1040 form To determine which year, start with your earliest NOL and subtract each NOL separately from your taxable income figured without the NOL deduction. 2011 tax 1040 form Complete this worksheet for the earliest NOL that results in your having taxable income below zero. 2011 tax 1040 form Your NOL carryover to 2014 is the total of the amount on line 10 of the worksheet and all later NOL amounts. 2011 tax 1040 form Example. 2011 tax 1040 form Your taxable income for 2013 is $5,000 without your $9,000 NOL deduction. 2011 tax 1040 form Your NOL deduction includes a $2,000 carryover from 2011 and a $7,000 carryover from 2012. 2011 tax 1040 form Subtract your 2011 NOL of $2,000 from $5,000. 2011 tax 1040 form This gives you taxable income of $3,000. 2011 tax 1040 form Your 2011 NOL is now completely used up. 2011 tax 1040 form Subtract your $7,000 2012 NOL from $3,000. 2011 tax 1040 form This gives you taxable income of ($4,000). 2011 tax 1040 form You now complete the worksheet for your 2012 NOL. 2011 tax 1040 form Your NOL carryover to 2014 is the unused part of your 2012 NOL from line 10 of the worksheet. 2011 tax 1040 form Line 2. 2011 tax 1040 form   Treat your NOL deduction for the NOL year entered at the top of the worksheet and later years as a positive amount. 2011 tax 1040 form Add it to your negative taxable income (figured without the NOL deduction). 2011 tax 1040 form Enter the result on line 2. 2011 tax 1040 form Line 6. 2011 tax 1040 form   You must refigure the following income and deductions based on adjusted gross income. 2011 tax 1040 form The special allowance for passive activity losses from rental real estate activities. 2011 tax 1040 form Taxable social security and tier 1 railroad retirement benefits. 2011 tax 1040 form IRA deductions. 2011 tax 1040 form Excludable savings bond interest. 2011 tax 1040 form Excludable employer-provided adoption benefits. 2011 tax 1040 form The student loan interest deduction. 2011 tax 1040 form The tuition and fees deduction. 2011 tax 1040 form   If none of these items apply to you, enter zero on line 6. 2011 tax 1040 form 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. 2011 tax 1040 form Using this increased adjusted gross income, refigure the items that apply, in the order listed above. 2011 tax 1040 form Your adjustment for each item is the difference between the refigured amount and the amount included on your return. 2011 tax 1040 form Combine the adjustments for previous items with your adjusted gross income before refiguring the next item. 2011 tax 1040 form Keep a record of your computations. 2011 tax 1040 form   Enter your total adjustments for the above items on line 6. 2011 tax 1040 form Line 7. 2011 tax 1040 form   Enter zero if you claimed the standard deduction or the amounts on lines 3 through 5 are zero. 2011 tax 1040 form Otherwise, use lines 11 through 33 of the worksheet to figure the amount to enter on this line. 2011 tax 1040 form Complete only those sections that apply to you. 2011 tax 1040 form Estates and trusts. 2011 tax 1040 form   Enter zero on line 7 if you did not claim any miscellaneous deductions on Form 1041, line 15c, or a casualty or theft loss. 2011 tax 1040 form Otherwise, refigure these deductions by substituting modified adjusted gross income (see below ) for adjusted gross income. 2011 tax 1040 form Subtract the recomputed deductions from those claimed on the return. 2011 tax 1040 form Enter the result on line 7. 2011 tax 1040 form Modified adjusted gross income. 2011 tax 1040 form   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. 2011 tax 1040 form The adjusted gross income on the return. 2011 tax 1040 form The amounts from lines 3 through 5 of the worksheet. 2011 tax 1040 form The exemption amount from Form 1041, line 20. 2011 tax 1040 form The NOL deduction for the NOL year entered at the top of the worksheet and for later years. 2011 tax 1040 form   To refigure the casualty and theft loss deduction of an estate or trust, modified adjusted gross income is the total of the following amounts. 2011 tax 1040 form The adjusted gross income amount you used to figure the deduction claimed on the return. 2011 tax 1040 form The amounts from lines 3 through 5 of the worksheet. 2011 tax 1040 form The NOL deduction for the NOL year entered at the top of the worksheet and for later years. 2011 tax 1040 form Line 11. 2011 tax 1040 form   Treat your NOL deduction for the NOL year entered at the top of the worksheet and for later years as a positive amount. 2011 tax 1040 form Add it to your adjusted gross income. 2011 tax 1040 form Enter the result on line 11. 2011 tax 1040 form Line 20. 2011 tax 1040 form   Is your modified adjusted gross income from line 13 of this worksheet more than $100,000 ($50,000 if married filing separately)?   □ Yes. 2011 tax 1040 form Your deduction is limited. 2011 tax 1040 form Refigure your deduction using the Mortgage Insurance Premiums Deduction Worksheet in the 2013 Instructions for Form 1045. 2011 tax 1040 form On line 2 of the Mortgage Insurance Premiums Deduction Worksheet, enter the amount from line 13 of this worksheet. 2011 tax 1040 form   □ No. 2011 tax 1040 form Your deduction is not limited. 2011 tax 1040 form Enter the amount from line 19 on line 20 and enter -0- on line 21. 2011 tax 1040 form Line 23. 2011 tax 1040 form   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. 2011 tax 1040 form 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. 2011 tax 1040 form Use the reduced contributions carryover to figure the amount to enter on line 23. 2011 tax 1040 form Please click here for the text description of the image. 2011 tax 1040 form 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. 2011 tax 1040 form Free help with your tax return. 2011 tax 1040 form   You can get free help preparing your return nationwide from IRS-certified volunteers. 2011 tax 1040 form The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. 2011 tax 1040 form The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2011 tax 1040 form 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. 2011 tax 1040 form In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. 2011 tax 1040 form To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. 2011 tax 1040 form gov, download the IRS2Go app, or call 1-800-906-9887. 2011 tax 1040 form   As part of the TCE program, AARP offers the Tax-Aide counseling program. 2011 tax 1040 form To find the nearest AARP Tax-Aide site, visit AARP's website at www. 2011 tax 1040 form aarp. 2011 tax 1040 form org/money/taxaide or call 1-888-227-7669. 2011 tax 1040 form For more information on these programs, go to IRS. 2011 tax 1040 form gov and enter “VITA” in the search box. 2011 tax 1040 form Internet. 2011 tax 1040 form    IRS. 2011 tax 1040 form gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. 2011 tax 1040 form Download the free IRS2Go app from the iTunes app store or from Google Play. 2011 tax 1040 form Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. 2011 tax 1040 form Check the status of your 2013 refund with the Where's My Refund? application on IRS. 2011 tax 1040 form gov or download the IRS2Go app and select the Refund Status option. 2011 tax 1040 form The IRS issues more than 9 out of 10 refunds in less than 21 days. 2011 tax 1040 form Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. 2011 tax 1040 form You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2011 tax 1040 form The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2011 tax 1040 form Use the Interactive Tax Assistant (ITA) to research your tax questions. 2011 tax 1040 form No need to wait on the phone or stand in line. 2011 tax 1040 form 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. 2011 tax 1040 form When you reach the response screen, you can print the entire interview and the final response for your records. 2011 tax 1040 form New subject areas are added on a regular basis. 2011 tax 1040 form  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. 2011 tax 1040 form gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. 2011 tax 1040 form You can use the IRS Tax Map to search publications and instructions by topic or keyword. 2011 tax 1040 form The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. 2011 tax 1040 form When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. 2011 tax 1040 form Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. 2011 tax 1040 form You can also ask the IRS to mail a return or an account transcript to you. 2011 tax 1040 form Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. 2011 tax 1040 form gov or by calling 1-800-908-9946. 2011 tax 1040 form Tax return and tax account transcripts are generally available for the current year and the past three years. 2011 tax 1040 form Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. 2011 tax 1040 form Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. 2011 tax 1040 form If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. 2011 tax 1040 form Check the status of your amended return using Where's My Amended Return? Go to IRS. 2011 tax 1040 form gov and enter Where's My Amended Return? in the search box. 2011 tax 1040 form You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2011 tax 1040 form It can take up to 3 weeks from the date you mailed it to show up in our system. 2011 tax 1040 form Make a payment using one of several safe and convenient electronic payment options available on IRS. 2011 tax 1040 form gov. 2011 tax 1040 form Select the Payment tab on the front page of IRS. 2011 tax 1040 form gov for more information. 2011 tax 1040 form Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. 2011 tax 1040 form Figure your income tax withholding with the IRS Withholding Calculator on IRS. 2011 tax 1040 form gov. 2011 tax 1040 form Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. 2011 tax 1040 form Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. 2011 tax 1040 form gov. 2011 tax 1040 form Request an Electronic Filing PIN by going to IRS. 2011 tax 1040 form gov and entering Electronic Filing PIN in the search box. 2011 tax 1040 form Download forms, instructions and publications, including accessible versions for people with disabilities. 2011 tax 1040 form Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. 2011 tax 1040 form gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. 2011 tax 1040 form An employee can answer questions about your tax account or help you set up a payment plan. 2011 tax 1040 form Before you visit, check the Office Locator on IRS. 2011 tax 1040 form gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. 2011 tax 1040 form If you have a special need, such as a disability, you can request an appointment. 2011 tax 1040 form Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. 2011 tax 1040 form Apply for an Employer Identification Number (EIN). 2011 tax 1040 form Go to IRS. 2011 tax 1040 form gov and enter Apply for an EIN in the search box. 2011 tax 1040 form Read the Internal Revenue Code, regulations, or other official guidance. 2011 tax 1040 form Read Internal Revenue Bulletins. 2011 tax 1040 form Sign up to receive local and national tax news and more by email. 2011 tax 1040 form Just click on “subscriptions” above the search box on IRS. 2011 tax 1040 form gov and choose from a variety of options. 2011 tax 1040 form Phone. 2011 tax 1040 form    You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. 2011 tax 1040 form Download the free IRS2Go app from the iTunes app store or from Google Play. 2011 tax 1040 form Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. 2011 tax 1040 form gov, or download the IRS2Go app. 2011 tax 1040 form 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. 2011 tax 1040 form The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. 2011 tax 1040 form Most VITA and TCE sites offer free electronic filing. 2011 tax 1040 form Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. 2011 tax 1040 form Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. 2011 tax 1040 form 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. 2011 tax 1040 form 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. 2011 tax 1040 form The IRS issues more than 9 out of 10 refunds in less than 21 days. 2011 tax 1040 form Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. 2011 tax 1040 form 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. 2011 tax 1040 form The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. 2011 tax 1040 form Note, the above information is for our automated hotline. 2011 tax 1040 form 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. 2011 tax 1040 form Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. 2011 tax 1040 form You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. 2011 tax 1040 form It can take up to 3 weeks from the date you mailed it to show up in our system. 2011 tax 1040 form 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). 2011 tax 1040 form You should receive your order within 10 business days. 2011 tax 1040 form Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. 2011 tax 1040 form 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. 2011 tax 1040 form Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. 2011 tax 1040 form The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. 2011 tax 1040 form These individuals can also contact the IRS through relay services such as the Federal Relay Service. 2011 tax 1040 form Walk-in. 2011 tax 1040 form   You can find a selection of forms, publications and services — in person. 2011 tax 1040 form Products. 2011 tax 1040 form You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. 2011 tax 1040 form Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. 2011 tax 1040 form Services. 2011 tax 1040 form You can walk in to your local TAC for face-to-face tax help. 2011 tax 1040 form An employee can answer questions about your tax account or help you set up a payment plan. 2011 tax 1040 form Before visiting, use the Office Locator tool on IRS. 2011 tax 1040 form gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. 2011 tax 1040 form Mail. 2011 tax 1040 form   You can send your order for forms, instructions, and publications to the address below. 2011 tax 1040 form You should receive a response within 10 business days after your request is received. 2011 tax 1040 form Internal Revenue Service 1201 N. 2011 tax 1040 form Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. 2011 tax 1040 form The Taxpayer Advocate Service (TAS) is your voice at the IRS. 2011 tax 1040 form Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. 2011 tax 1040 form   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. 2011 tax 1040 form 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. 2011 tax 1040 form You face (or your business is facing) an immediate threat of adverse action. 2011 tax 1040 form You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. 2011 tax 1040 form   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. 2011 tax 1040 form Here's why we can help: TAS is an independent organization within the IRS. 2011 tax 1040 form Our advocates know how to work with the IRS. 2011 tax 1040 form Our services are free and tailored to meet your needs. 2011 tax 1040 form We have offices in every state, the District of Columbia, and Puerto Rico. 2011 tax 1040 form   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. 2011 tax 1040 form   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. 2011 tax 1040 form If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. 2011 tax 1040 form Low Income Taxpayer Clinics Low Income