Table 1. Worksheet for NOL. Carryover From 2009 to 2010 (For an NOL Year Before 2009)

Summary: This is an example of the worksheet used to figure the net operating loss carryover from 2009 to 2010. A Note on the bottom of the form states: If you choose to waive the carryback period, and instead you choose to only carry your 2009 NOL. forward, use Schedule A, Form 1045 to compute your 2009 NOL. that will be carried over to 2010. Report your 2009 NOL. from line 25, Schedule A, Form 1045, on the other income line of your 2010 Form 1040 or Form 1040NR, or the line on Form 1041 for deductions NOT subject to the 2% floor in 2010. The line items to be completed are:

NOL. YEAR field

Under Use Your 2009 Form 1040, Form 1040NR (or Form 1041) to Complete This Worksheet:

1. Enter as a positive number your NOL. deduction for the NOL. year entered above from line 21 (Form 1040 or Form 1040NR) or line 15a (Form 1041) field
2. Enter your taxable income without the NOL. deduction for 2009 (See instructions.) field
3. Enter as a positive number any net capital loss deduction field
4. Enter as a positive number any gain excluded on the sale or exchange of qualified small business stock field
5. Enter the amount of any domestic production activities deductionfield
6. Enter any adjustments to your adjusted gross income (see instructions) field
7. Enter any adjustments to your itemized deductions from line 35 or line 47 (see instructions) field
8. Enter your deduction for exemptions from line 42 (Form 1040), line 39 (Form 1040NR), or line 20 (Form 1041) field
9. Modified taxable income. Combine lines 2 through 8. Enter the result (but not less than zero) field
10. NOL. carryover to 2010. Subtract line 9 from line 1. Enter the result (but not less than zero) here and on the other income line of Form 1040 or Form 1040NR (or the line on Form 1041 for deductions NOT subject to the 2% floor) in 2010 field

Under Adjustments to Itemized Deductions (Individuals Only):

11. Enter your adjusted gross income without the NOL. deduction for the NOL. year entered above or later years. (See instructions.) field
12. Combine lines 3, 4, 5, and 6 above field
13. Modified adjusted gross income. Combine lines 11 and 12 above field

Under Adjustment to Medical Expenses:

14. Enter your medical expenses from Schedule A (Form 1040), line 4 field
15. Enter your medical expenses from Schedule A (Form 1040), line 1 field
16. Multiply line 13 above by 7.5% (.075) field
17. Subtract line 16 from line 15. Enter the result (but not less than zero) field
18. Subtract line 17 from line 14 field

Under Adjustment to Qualified Motor Vehicle Taxes

19. Enter your qualified motor vehicle taxes deduction from Schedule A (Form 1040), line 13field
20. Refigure your qualified motor vehicle taxes deduction using line 13 above as your adjusted gross income. (See instructions.)field
21. Subtract line 20 from line 19field

Under Adjustment to Qualified Mortgage Insurance Premiums.

22. Enter your qualified mortgage insurance premiums deduction from Schedule A (Form 1040), line 13field
23. Refigure your qualified mortgage insurance premiums deduction using line 13 above as your adjusted gross income. (See instructions.)field
24. Subtract line 23 from line 22field

Under Adjustment to Charitable Contributions:

25. Enter your charitable contributions deduction from Schedule A (Form 1040), line 19, or Schedule A (Form 1040NR), line 7 field
26. Refigure your charitable contributions deduction using line 13 above as your adjusted gross income. (See instructions.) field
27. Subtract line 26 from line 25 field

Under Adjustment to Casualty and Theft Losses:

28. Enter your casualty and theft losses from Form 4684, line 21 field
29. Enter your casualty and theft losses from Form 4684, line 18 field
30. Multiply line 13 above by 10% (.10) field
31. Subtract line 30 from line 29. Enter the result (but not less than zero) field
32. Subtract line 31 from line 28 field

Under Adjustment to Miscellaneous Deductions:

33. Enter your miscellaneous deductions from Schedule A (Form 1040), line 27, or Schedule A (Form 1040NR), line 15 field
34. Enter your miscellaneous deductions from Schedule A (Form 1040), line 24, or Schedule A (Form 1040NR), line 12 field
35. Multiply line 13 above by 2% (.02) field
36. Subtract line 35 from line 34. Enter the result (but not less than zero) field
37. Subtract line 36 from line 33 field