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Changes to 2003 Forms

2003 Updates to Form 3805V

Revision Date: 01/21/2005

Revision Details: Net Operating Loss (NOL) Computation and NOL and Disaster Loss Limitation - Individuals, Estates, and Trusts

These revisions occur in the Form 3805V, page 3, column 2, line 2 (e) and (h) instructions. Revisions are also required to Package X page 547.

  • FTB 3805V, Column 2, Line 2 (e) instructions

It should read:

"You should have already reduced by 50 percent any remaining 1997 disaster loss carryover."

  • FTB 3805V, Column 2, Line 2(h) instructions

It should read:

"Any remaining 1998 disaster loss carryover to 2004 must be reduced by 50 percent."

This could have a tax impact by increasing the taxpayer's tax liability.
The revised internet version is available for download.


2003 Updates to Form 3805V

Revision Date: 01/27/2004

Revision Details: Net Operating Loss (NOL) Computation and NOL and Disaster Loss Limitations - Individuals, Estates, and Trusts

These revisions relate to the disaster codes. Code 22 was renamed and code 23 was added to the list (new disaster code). Form 3805V and instructions did not include information regarding disaster code 23, since code 23 was created after the form had been finalized. A revision was also made to the paragraph that is found below the Designated Disaster Table on page 2, column 2 (See fourth bullet).

  • Form 3805V, Side 2, Part III, Current Year NOLs, Line 3, column (b)

It should read:

22 and/or 23

  • Instructions, Page 2, column 2, Designated Disaster Table

It should read:

Year        Code          Event
2003         23            San Simeon earthquakes*
2003         22            Southern California Fires and other related casualties *

  • Instructions, Page 2, column 2, paragraph below Designated Disaster Table

It should read:

* Carryover period and percentage are limited to the NOL rules. No special legislation has been enacted.

  • Instructions, Page 3, Part III, 3rd column, Line 3, Column (b)

It should read:

Column (b) - The disaster loss code -22 and/or 23 - is entered.

The revisions appear on pages 544, 546, and 547 of the Package X. Form 3805V is not part of a booklet, the flat was held back and will be going to print, and will reflect these changes.

The revised internet version is available for download.


2003 Updates to Form 3805V

Revision Date: 01/08/2004

Revision Details: Net Operating Loss (NOL) Computation and NOL and Disaster Loss Limitation - Individuals, Estates, and Trusts

  • Form 3805V, Side 2, Section B, line 32 references incorrect line numbers on the 2003 Schedule CA (540NR)

It should read:

Subtract Schedule CA (540NR),line 45 from Schedule CA (540NR),line 42.

The revision appears on the stand-alone Form 3805V (side 2) and in Package X, page 544.
The revised internet version is available for download.

Back to Tax Form Changes for 2003