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Posted by bm30003700@aol.com on August 29, 2007, 1:31 am
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I am trying to follow instructions, Publication 536, under
subject "change in marital status", in carrying back an NOL
generated by my client, widowed, and filing single in year
of the NOL, to a year when my client filed a joint return
with his now deceased spouse.
I've calculated the portion of the NOL eligible for
carryback, and applied the joint rates to the resulting
taxable income, per Publication 536, This results in
$17,401 tax as originally filed, and $763 tax as amended.
My client's portion of the $763 tax as amended, is $568, and
his portion of the tax paid on the joint return is$11,354
($231 withheld on his W-2, and one half estimated tax
payments of $22,246) using Pub 536 instructions. The
overpayment shown on the original return was $5,076.
Assuming I've come to correct figures above, do I use the
joint figures of $231, $22,246, and $22,477 in column C,
lines 11, 12 and 18, respectively, on 1040X?
If so, resulting overpayment of $16,638 on 1040X line 22
calculated by my program is incorrect, per Pub 536, as the
refund is limited to $10,786 ($11,354 less $568). Pub 536
instructs you to attach a statement showing how refund is
figured. Do I just white out $16,638 on line 22, replace
with $10,786, and write in "See attached refund
computation"?
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