Instructions For Form 8582-Cr (Rev. December 2009) Page 13
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15Note. When using taxable income in
Part V—Passive Activity
Part III—Special
the above computation, it is not
necessary to refigure items that are
Allowance for
Credit Allowed
based on a percentage of adjusted
gross income.
Use Part V to figure the PAC (as
Rehabilitation Credits
determined in Part I) that is allowed
From Rental Real Estate
for the current year for all passive
Part IV—Special
activities.
Activities and
Line 37. If you have only one type of
Allowance for
Low-Income Housing
credit, the amount on line 37 is the
Low-Income Housing
credit allowed for the year. Enter this
Credits for Property
amount on the form where it is
Credits for Property
Placed in Service Before
normally reported. See Reporting
Placed in Service After
Allowed Credits on Your Tax Return
1990 (or From
below. Your unallowed credit is line 5
1989
Pass-Through Interests
minus line 37.
Acquired Before 1990)
Use Worksheets 5 through 9,
Married persons filing
!
whichever apply, on pages 11 and
separate returns who lived
12, to allocate the allowed and
Married persons filing
with their spouses at any time
CAUTION
!
unallowed credits if you have credits
separate returns who lived
during the year are not eligible to
from more than one activity. Also use
with their spouses at any time
complete Part IV.
CAUTION
the worksheets if you have more than
during the year are not eligible to
Use Part IV to figure the credit
one type of credit.
complete Part III.
allowed if you have any low-income
Keep a record of each unallowed
housing credits for property placed in
Use Part III to figure the credit
credit and the activity to which it
service after 1989. If you held an
allowed if you have any rehabilitation
belongs so you may claim the credit if
indirect interest in the property
credits or low-income housing credits
it becomes allowable in a future year.
through a partnership, S corporation,
for property placed in service before
or other pass-through entity, use Part
1990. Also use this part if your
Reporting Allowed Credits
IV only if your interest in the
low-income housing credit is from a
on Your Tax Return
pass-through entity was also acquired
partnership, S corporation, or other
after 1989.
pass-through entity in which you
For tax years beginning after
Line 35. Figure the tax attributable
acquired your interest before 1990,
!
2009, line numbers may
to the remaining special allowance as
regardless of the date the property
change. See the form
CAUTION
follows.
was placed in service.
instructions on how to report the
passive activity credit allowed.
Line 21. Married persons filing
A. Taxable income . . . . . . . . .
separate returns who lived apart from
Form 3468. Enter on Form 3468,
B. Tax on line A* . . . . . . . . . . . . . . .
their spouses at all times during the
line 16, the passive activity
year must enter $125,000 on line 21,
C. Enter $25,000
rehabilitation and energy credits.
($12,500 if married
instead of $250,000.
Form 3800. Enter on Form 3800,
filing separate return
and you and your
Skip lines 21 through 26 if you
line 5, the total passive activity
spouse lived apart at
general business credit allowed.
completed Part II of this form and
all times during the
your modified adjusted gross income
year) . . . . . . . . . . .
Form 5884. Enter on Form 5884,
on line 10 was $100,000 or less
line 7, the passive activity work
D. Enter amount, if
($50,000 or less if married filing
any, from Form
opportunity credit.
separately and you lived apart from
8582, line 10 . . . . . .
Form 6478. Enter on Form 6478,
your spouse for the entire year).
E. Enter the amount,
line 11, the passive activity alcohol
Instead, enter the amount from line
if any, from Form
and cellulosic biofuel fuels credit
15 on line 27.
8582, line 14 . . . . . .
allowed.
F. Subtract lines D and E
Line 24. Do not enter more than
Form 8586. Enter on Form 8586,
from line C . . . . . . . . . . . .
$12,500 on line 24 if you are married
line 15, the passive activity
G. Subtract line F from line A . . .
filing a separate return and lived apart
low-income housing credit allowed.
from your spouse for the entire year.
H. Tax on line G* . . . . . . . . . . . . . . .
Form 8834. See the Instructions for
I. Subtract line H from line B . . . . . . .
Line 27. Figure the tax attributable
Form 8834 for instructions on how to
J. Add lines 16 and 30 of
to the amount on line 26 as follows.
report the passive activity credit
Form 8582-CR and enter the total . . .
allowed.
K. Tax attributable to the remaining
A. Taxable income . . . . . . .
Form 8835. Enter on Form 8835,
special allowance. Subtract line J
B. Tax on line A* . . . . . . . . . . . . . . .
line 33, the passive activity renewable
from line I. Enter the result on
Form 8582-CR, line 35 . . . . . . . . . .
electricity, refined coal, and Indian
C. Enter amount from Form
coal production credit allowed.
8582-CR, line 26 . . . . . . .
*For Form 1040, use the Tax Table, Tax Computation
Worksheet, or other appropriate method you used to
Form 8844. Enter on Form 8844,
D. Subtract line C from line A
figure your tax. For Form 1041, use the Tax Rate
line 7, the passive activity
Schedule, Qualified Dividends Tax Worksheet, or
E. Tax on line D* . . . . . . . . . . . . . . .
Schedule D, whichever applies.
empowerment zone and renewal
F. Subtract line E from line B and enter
community employment credit
Note. When using taxable income in
the result on Form 8582-CR, line 27
allowed.
the above computation, it is not
*For Form 1040, use the Tax Table, Tax Computation
necessary to refigure items that are
Form 8846. Enter on Form 8846,
Worksheet, or other appropriate method you used to
figure your tax. For Form 1041, use the Tax Rate
based on a percentage of adjusted
line 9, the passive activity credit for
Schedule, Qualified Dividends Tax Worksheet, or
gross income.
employer social security and
Schedule D, whichever applies.
-13-
Instructions for Form 8582-CR (2009)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial