Get Pub 145 - Tax Ny

Pub 145 provides guidance for New York State residents, estates, and trusts regarding net operating losses (NOLs) for income tax purposes. This comprehensive guide will help you navigate the process of filling out the form online with clear and detailed steps.

Follow the steps to properly complete Pub 145 online.

1. Click 'Get Form' button to obtain the form and open it for editing.
2. Begin by reviewing the general information section to understand what qualifies as a net operating loss (NOL) and ensure you meet the eligibility criteria based on your income and deductions.
3. Move to Section II where you will claim and report your NOL deduction. Ensure that you compute your federal taxable income correctly, as it will impact your New York State NOL deduction.
4. Complete the NOL Worksheet provided in the form. This will help you calculate your NOL deduction allowed for New York and any necessary modifications.
5. If you are carrying back or carrying forward your NOL, carefully follow the guidelines, ensuring that you report the correct figures from your federal tax returns.
6. Once all sections of the form are completed and reviewed for accuracy, save your changes to ensure your information is not lost.
7. Finalize by downloading, printing, or sharing the completed form as required, ensuring you keep a copy for your records.

Start filling out your Pub 145 - Tax Ny online today to ensure your net operating loss is correctly reported.