Form 1139 (Rev. October 2018) — 2015 Tax Year Checklist
Purpose of the Form
Form 1139 permits corporations to request a tentative refund by carrying back a 2015 net operating loss, capital loss, or unused general business credit to prior tax years. The October 2018 revision clarified base erosion minimum tax computation on line 18 for qualifying corporations, reflecting post-TCJA rules that apply when carryback years fall within the 2018 and later period.
You may file this form for multiple carryback types on a single application. The corporation can claim an NOL carryback, net capital loss carryback, unused general business credit carryback, or section 1341(b)(1) overpayment simultaneously by completing all applicable lines on one form.
Verify Loss or Credit Origin Year
You must confirm the loss or credit that arose in the tax year ending in 2015. You must attach a detailed computation showing how the loss or credit was calculated under the 2015 tax law before any TCJA modifications apply to carryback years.
The calculation must demonstrate the specific amount available for carryback to prior years. You must use the 2015 rules and limitations when computing the original loss or credit amount.
Complete Line 1 With Applicable Amounts
Identify which reason applies by entering amounts on the appropriate lines:
- Line 1a: Net operating loss from 2015
- Line 1b: Net capital loss from 2015
- Line 1c: Unused general business credit from 2015
- Line 1d: Other overpayment claims under section 1341(b)(1)
You may complete multiple lines on the same application when claiming different types of carrybacks. Each line requires supporting documentation showing the computation of the amount claimed.
Report 2015 Return Filing Details
Enter the following information on line 2:
- Enter the 2015 tax year-end date to identify the applicable loss year.
- Enter the filing date of the original 2015 return as reported to the Internal Revenue Service.
- Identify the IRS service center where you filed the return for processing purposes.
If you filed an amended return for 2015, use the amended return's filing date and service center location instead of the original filing information.
Address Prior Carryback Credits
Line 3 applies if this application claims an unused credit that was itself created by another carryback from a different loss year, requiring you to enter the ending date of the year from which the initial carryback was made.
This information helps the IRS trace the chain of carrybacks and properly process released credits. Leave this line blank if the current application claims only direct carrybacks from 2015.
Determine Foreign Tax Credit Release Requirements
If the 2015 NOL resulted in the release of a foreign tax credit, you must answer "Yes" on line 4. If you carry back a general business credit that was released because of a foreign tax credit release, you must also answer "Yes."
The IRS requires you to file an amended return for each carryback year to carry back the released credits separately. Form 1139 cannot process foreign tax credit carrybacks.
Disclose Consolidated Return Status
Answer line 5a "Yes" if the corporation filed a consolidated return for any carryback year before 2015. Answer "Yes" if the corporation joined a consolidated group after 2015. Provide the common parent's name, EIN, and tax year ending date on line 5b when applicable.
Consolidated carryback rules differ from single-entity carryback rules, and the IRS must send refunds to the common parent.
Complete Computation of Decrease in Tax
Lines 11 through 26 require detailed computation for each carryback year:
- Enter amounts before carryback in columns (a), (c), and (e).
- Enter amounts after carryback in columns (b), (d), and (f).
- Start with the earliest carryback year and proceed chronologically.
- Complete line 17 for the alternative minimum tax when applicable to pre-2018 years.
- Complete line 18 for base erosion minimum tax only if a carryback year is 2018 or later.
- Attach Form 8991 if line 18 applies to any carryback year.
- Refigure all tax components to reflect the impact of the carryback.
The computation must account for how the carryback changes taxable income, credits, and total tax liability for each affected year.
Sign and Submit the Application
An authorized corporate officer must sign and date the form under penalties of perjury and print the officer's title clearly on the signature line. The signature certifies that the application and all attachments are true, correct, and complete. File Form 1139 separately from the 2015 income tax return by mailing it to the IRS service center where the corporation files its returns.
Year-Specific Rules for 2015 Carrybacks
Base erosion minimum tax on line 18 applies only if a carryback year falls in 2018 or later, never to 2015 itself. Corporate capital losses may be carried back three years and forward five years under pre-TCJA law for regular capital losses.
Foreign expropriation capital losses receive special treatment with a ten-year carryforward period. The October 2018 form revision added line 18 to accommodate BEAT computations when 2015 losses carry back to 2018 or later years.
General business credit carryback follows section 39 rules, generally allowing a one-year carryback period. Section 1341(b)(1) overpayment claims on line 29 require that the corporation previously included income in an earlier year and now claims a deduction or loss in 2015 due to a court decision or other adjustment. You must attach a detailed computation if you check this box.
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This checklist is for educational purposes only and does not constitute tax or legal advice. Always review official IRS instructions and consult a qualified professional for guidance.
