Form 1139, Corporation Application for Tentative Refund
Form 1139 is a corporation’s fast-track refund application. It carries a net operating loss, capital loss, or unused credit back to earlier tax years and asks the IRS for a quick tentative refund of the tax paid in those years.
This is the genuine IRS PDF, unmodified. Source: IRS official page.
What is 1139?
When a corporation has a carryback, a net operating loss carryback where allowed, a net capital loss carryback, an unused general business credit carryback, or an overpayment from a section 1341(b)(1) claim of right adjustment, it can apply the carryback to prior years and recover tax already paid. Form 1139 is the expedited route: the IRS processes it on a tentative basis rather than through the full amended-return examination process.
The form recomputes the earlier years’ tax before and after the carryback, line by line, and the difference is the refund. The application generally must be filed within 12 months after the end of the tax year the loss or credit arose in. The refund is tentative: the IRS can later examine the years involved and reclaim any amount that was excessive. S corporations do not use this form, since their losses pass through to shareholders.
Who files 1139?
- C corporations carrying back a net capital loss or, where current law allows, a net operating loss
- Corporations carrying back an unused general business credit released by another carryback
- Corporations with an overpayment from a claim of right adjustment under section 1341(b)(1)
- Not S corporations: shareholders claim pass-through losses on their own returns, individuals use Form 1045
How to fill out 1139
- Enter the corporation’s name, EIN, and the return information for the year the loss or credit arose.
- Identify the carryback: its type, amount, and the prior years it is being carried to.
- Recompute each carryback year’s income and tax in the before and after columns of the computation section.
- The decrease in tax across the carryback years is the tentative refund; complete the signature block.
- Download the completed PDF and file it with the IRS as the instructions direct, separately from the corporation’s income tax return, generally within 12 months after the end of the loss year.
Quick fill 1139 on this page
Prefer to see the form itself while you type? Open 1139 in the editor to fill it on the actual pages, add a signature, and download.
Frequently asked questions
Why use Form 1139 instead of an amended return?
Speed. Form 1139 is processed as a tentative allowance without a full review up front, so refunds typically arrive much sooner than through amending each carryback year. The trade-off is that the IRS can still examine the years later and take back an excessive refund.
Can a corporation still carry back a net operating loss?
For most corporations, NOLs arising in recent years can only be carried forward under current law, with narrow exceptions such as certain farming losses and insurance companies. Net capital losses and freed-up general business credits still carry back. Check the current instructions for what applies to your loss year.
What is the deadline for filing Form 1139?
Generally within 12 months after the end of the tax year in which the loss, unused credit, or claim of right adjustment arose. Miss that window and the corporation must use the regular amended return process instead.