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Form1138Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carry back(Rev. November 2018) Department of the Treasury Internal Revenue Service Name OMB No. 15450123(Under

How to fill out form 1138

How to fill out form 1138

1. Begin by collecting all the necessary information and documents required to fill out form 1138.
2. Carefully read the instructions provided with the form to understand the specific requirements and guidelines.
3. Start filling out the form by entering your personal details such as name, address, and contact information.
4. Provide any additional information requested, such as your social security number or taxpayer identification number.
5. Follow the instructions to accurately complete each section of the form.
6. Double-check all the information you have entered to ensure accuracy and correctness.
7. If applicable, attach any supporting documents that are required to be submitted along with the form.
8. Review the completed form once again to ensure you have filled out all the necessary sections.
9. Sign and date the form as required.
10. Make a copy of the completed form and any supporting documents for your records.
11. Submit the filled-out form 1138 and any required attachments to the designated authority according to the instructions provided.

Who needs form 1138?

1. Form 1138 is needed by individuals or businesses who are required to claim certain tax credits or deductions as specified by the tax laws and regulations.
2. It may be required by taxpayers who qualify for specific credits or deductions related to education, healthcare, energy efficiency, or other eligible expenses.
3. The form is typically used for reporting and claiming specific credits or deductions on federal tax returns.
4. It is important to consult the tax laws and regulations or seek professional advice to determine if form 1138 is applicable to your specific tax situation.

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What is form 1138?

Form 1138 is a tax form used by corporations to apply for an extension of time to carry back a net operating loss or a capital loss.

Who is required to file form 1138?

Corporations that want to apply for an extension of time to carry back a net operating loss or a capital loss must file form 1138.

How to fill out form 1138?

Form 1138 must be filled out by providing detailed information about the corporation, the type of loss being carried back, the specific tax year involved, and the reason for requesting the extension.

What is the purpose of form 1138?

The purpose of form 1138 is to allow corporations to extend the time to carry back a net operating loss or a capital loss, which can help reduce their tax liability.

What information must be reported on form 1138?

On form 1138, corporations must report details about the loss to be carried back, the tax year involved, and provide a detailed explanation for why the extension is being requested.