Carryback for qualified disaster loss expired. The 5-year carryback for qualified disaster loss applies only for disasters occurring before January 1, 2010.

Motor vehicle tax deduction expired. The new motor vehicle tax deduction expired for vehicles purchased after December 31, 2009.

Future developments. The IRS has created a page on IRS.gov for information about Publication 536 at www.irs.gov/pub536. Information about any future developments affecting Publication 536 (such as legislation enacted after we release it) will be posted on that page.

If your deductions for the year are more than your income for the year, you may have a net operating loss (NOL). An NOL year is the year in which an NOL occurs. You can use an NOL by deducting it from your income in another year or years.

To have an NOL, your loss must generally be caused by deductions from your:

A loss from operating a business is the most common reason for an NOL.

Partnerships and S corporations generally cannot use an NOL. However, partners or shareholders can use their separate shares of the partnership's or S corporation's business income and business deductions to figure their individual NOLs.

Keeping records.   You should keep records for any tax year that generates an NOL for 3 years after you have used the carryback/carryforward or 3 years after the carryforward expires.

  

You should attach all required documents to the Form 1045 or Form 1040X. For details, see the Instructions for Form 1045 or Form 1040X.