EFTA01222802.pdf

Passive Activity Credit Limitations Form 8582-CR OMB No. 154S-1034 (Rev. January 2012) ► See separate instructions. Department of the Treasury Attachment It Attach to Form 1040 or 1041. Sequence No. 89 Internal Revenue Service Name(s) shown on return Identifying number Part I Passive Activity Credits Caution: If you have credits from a publicly traded partnership, see Publicly Traded Partnerships (PTPs) in the instructions. Credits From Rental Real Estate Activities With Active Participation (Other Than Rehabilitation Credits and Low-Income Housing Credits) (See Lines la through 1c in the instructions.) la Credits from Worksheet 1, column (a) la b Prior year unallowed credits from Worksheet 1, column (b). lb c Add lines 1a and 1b 1c Rehabilitation Credits From Rental Real Estate Activities and Low-Income Housing Credits for Property Placed in Service Before 1990 (or From Pass-Through Interests Acquired Before 1990) (See Lines 2a through 2c in the instructions.) 2a Credits from Worksheet 2, column (a) 2a b Prior year unallowed credits from Worksheet 2, column (b). 2b c Add lines 2a and 2b 2c Low-Income Housing Credits for Property Placed in Service After 1989 (See Lines 3a through 3c in the instructions.) 3a Credits from Worksheet 3, column (a) 13a b Prior year unallowed credits from Worksheet 3, column (b). . 3b c Add lines 3a and 3b 3c All Other Passive Activity Credits (See Lines 4a through 4c in the instructions.) 4a Credits from Worksheet 4, column (a) 14a I b Prior year unallowed credits from Worksheet 4, column (b). . 4b c Add lines 4a and 4b 4c 5 Add lines lc, 2c. 3c. and 4c 5 6 Enter the tax attributable to net passive income (see instructions) 6 7 Subtract line 6 from line 5. If line 6 is more than or equal to line 5. enter -0- and see instructions 7 Note: If your filing status is married filing separately and you lived with your spouse at any time during the year, do not complete Part (I, Ill, or IV. Instead, go to line 37. Part I ecial owance for Rental Real state Activities With Active Participation Note: Complete this part only if you have an amount on line lc. Otherwise, go to Part IX 8 Enter the smaller of line lc or line 7 8 9 Enter $150,000. If married filing separately, see instructions . . 9 10 Enter modified adjusted gross income, but not less than zero (see instructions). If line 10 is equal to or more than line 9. skip lines 11 through 15 and enter -0- on line 16 10 11 Subtract line 10 from line 9 11 12 Multiply line 11 by 50% (.50). Do not enter more than $25,000. If married filing separately. see instructions 12 13a Enter the amount, if any, from line 10 of Form 8582 13a b Enter the amount, if any, from line 14 of Form 8582 13b c Add lines 13a and 13b 13c 14 Subtract line 13c from line 12 14 15 Enter the tax attributable to the amount on line 14 (see instructions) 15 16 Enter the smaller of line 8 or line 15 16 For Paperwork Reduction Act Notice, see instructions. Form 8582-CR (Rev. 01-2012) EFTA01222802 Form 8582-CR (Rev. 01-2012) I,ac., 2 Special Allowance for Rehabilitation Credits From Rental Real Estate Activities and Low-Income Housing I ma m Credits for Property Placed in Service Before 1990 (or From Pass-Through Interests Acquired Before 1990) Note: Complete this part only if you have an amount on line 2c. Otherwise, go to Part IV. 17 Enter the amount from line 7 17 18 Enter the amount from line 16 18 19 Subtract line 18 from line 17. If zero, enter -0- here and on lines 30 and 36, and then go to Part V 19 20 Enter the smaller of line 2c or line 19 20 21 Enter $250,000. If married filing separately, see instructions to find out if you can skip lines 21 through 26 21 22 Enter modified adjusted gross income, but not less than zero. (See instructions for line 10.) If line 22 is equal to or more than line 21, skip lines 23 through 29 and enter -0- on line 30 22 23 Subtract line 22 from line 21 23 24 Multiply line 23 by 50% (.50). Do not enter more than $25,000. If married filing separately, see instructions 24 25a Enter the amount, if any, from line 10 of Form 8582 25a b Enter the amount, if any, from line 14 of Form 8582 25b c Add lines 25a and 25b 26 Subtract line 25c from line 24 28 27 Enter the tax attributable to the amount on line 26 (see instructions) 27 28 Enter the amount, if any, from line 18 28 29 Subtract line 28 from line 27 29 30 Enter the smaller of line 20 or line 29 30 'Ada Special Allowance for Low-Income Housing Credits for Property Placed in Service After 1989 Note: Complete this part only if you have an amount on line 3c. Otherwise, go to Part V. 31 If you completed Part III, enter the amount from line 19. Otherwise, subtract line 16 from line 7 31 32 Enter the amount from line 30 32 33 Subtract line 32 from line 31. If zero, enter -0- here and on line 36 33 34 Enter the smaller of line 3c or line 33 34 35 Tax attributable to the remaining special allowance (see instructions) 36 36 Enter the smaller of line 34 or line 35 36 Part V Passive Activity Credit Allowed 37 Passive Activity Credit Allowed. Add lines 6, 16, 30, and 36. See instructions to find out how to report the allowed credit on your tax return and how to allocate allowed and unallowed credits if you have more than one credit or credits from more than one activity. If you have any credits from a publicly traded partnership, see Publicly Traded Partnerships (PTPs) in the instructions. 37 Part VI Election To Increase Basis of Credit Property 38 If you disposed of your entire interest in a passive activity or former passive activity in a fully taxable transaction, and you elect to increase your basis in credit property used in that activity by the unallowed credit that reduced your basis in the property, check this box. See instructions 10 O 39 Name of passive activity disposed of ► 40 Description of the credit property for which the election is being made ► 41 Amount of unallowed credit that reduced your basis in the property . . . . . . . . ► Form 8582-CR (Rev. 01-201z EFTA01222803