Desktop: Form 1045 - Application for Tentative Refund – Support

An individual, estate, or trust files Form 1045 to apply for a quick tax refund resulting from:

The carryback of an NOL.
The carryback of an unused general business credit.
The carryback of a net section 1256 contracts loss.
An overpayment of tax due to a claim of right adjustment under section 1341(b)(1).

If the taxpayer is carrying back an NOL, they can use either Form 1045 or file an amended return for each prior year. They can get their refund faster by using Form 1045, but they have a shorter time to file it and, because it is not treated as a claim for credit or refund, they may need to file an amended return if their application on Form 1045 is disallowed.

However a taxpayer must amend, rather than file Form 1045, to carry back the following:

Any items to a section 965 year,
A prior year foreign tax credit released due to an NOL or net capital loss carryback, or
A prior year general business credit released because of the release of the foreign tax credit.

If the tax return is being paper filed, Form 1045 should be sent in a separate envelope with all supporting documentation. Additionally, Form 1045 for a given tax year should not be filed before the income tax return for that year.

To complete Form 1045 in the individual income tax return in TaxSlayer Pro, from the Main Menu of the return (Form 1040) select:

Miscellaneous Forms
Net Operating Losses (172 & 1045) - If the taxpayer wishes to forego the carryback period, select IRC Sec 172(b)(c) Election to Forego the Carryback Period.
Form 1045 - Application for Tentative Refund
Heading Information
- Unused General Business Credit - If the taxpayer is claiming a tentative refund based on the carryback of an unused general business credit, enter the amount of the credit. You'll need to attach a detailed computation showing how the credit carryback was figured and also a recomputation of the credit after the carryback is applied. Generally, an unused general business credit must be carried back 1 year.
- Net Section 1256 Contracts Loss - An individual can elect to carry back a net section 1256 contracts loss to each of the 3 tax years preceding the loss year. However, the amount that can be used in any prior tax year can’t exceed the net section 1256 contract gain in that year and can’t increase or create an NOL for that year.
- Date Tax Return was Filed - Enter the date the current year's tax return was filed.
- Resubmitting Form 1045 in Response to IRS Correspondence? - Select Yes or No as appropriate.
- Year of First Carryback - Enter the year of the first carryback.
- If MFJ on Some but Not All Returns, List Years & Specify - If the taxpayer filed either a joint return or separate return for some, but not all, of the tax years involved in figuring the carryback, list the years
  and specify whether joint (J) or separate (S) return for each.
- If SSN for Carryback Year is Different, Enter SSN - If the SSN for the carryback year is different from the SSN on the form, enter it, then enter the year in which it was different.
- Date Permission to Change Accounting Period was Granted - If the taxpayer changed their accounting period, enter the date permission to change was granted.
- Filed a Petition in Tax Court for Carryback Years - Select Yes or No as appropriate.
- Decrease in Tax Due to a Loss From a Tax Shelter - Select Yes or No as appropriate.
- If NOL, did this cause the Release of Foreign Tax Credits - Select Yes or No as appropriate. Note that Form 1045 can't be used to carry released foreign tax credits to earlier years, nor can it be used if the released foreign tax credits result in the the release of general business credits to earlier years. In those scenarios, the taxpayer must amend rather than file Form 1045.
- Overpayment of Tax Due to a Claim of Right Adjustment - If Form 1045 is being filed based on an overpayment of tax under section 1341(b)(1), enter the amount on this line. Be sure to attach a computation showing the information required by Regulations section 5.6411-1(d), i.e.., the taxpayer's SSN, name, and address, and the full calculation.
- Direct Deposit Information for Any Refund - Enter the bank's routing transit number and account number, and indicate the type of account, whether checking or savings.
Number of years to carryback amounts - Enter either 1 or 2, the number of years you wish to carry back the NOL.
Edit Preceding Tax Years Information - Select the year you want to apply the NOL to first and complete the worksheet for that year.