Form 8582-Cr - Passive Activity Credit Limitations - 2006
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1
28582-CR
OMB No. 1545-1034
Passive Activity Credit Limitations
Form
2006
See separate instructions.
Attachment
Department of the Treasury
89
Attach to Form 1040 or 1041.
Sequence No.
Internal Revenue Service
Name(s) shown on return
Identifying number
Part I
2006 Passive Activity Credits
Caution: If you have credits from a publicly traded partnership, see Publicly Traded Partnerships (PTPs) on page 15
of the instructions.
Credits From Rental Real Estate Activities With Active Participation (Other Than Rehabilitation
Credits and Low-Income Housing Credits) (See Lines 1a through 1c on page 9.)
1a
1a
Credits from Worksheet 1, column (a)
1b
b Prior year unallowed credits from Worksheet 1, column (b)
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 on page 9.)
2a
2a Credits from Worksheet 2, column (a)
2b
b Prior year unallowed credits from Worksheet 2, column (b)
c Add lines 2a and 2b
2c
Low-Income Housing Credits for Property Placed in Service After 1989 (See Lines 3a through
3c on page 9.)
3a
3a
Credits from Worksheet 3, column (a)
3b
b
Prior year unallowed credits from Worksheet 3, column (b)
c
Add lines 3a and 3b
3c
All Other Passive Activity Credits (See Lines 4a through 4c on page 9.)
4a
4a
Credits from Worksheet 4, column (a)
4b
b
Prior year unallowed credits from Worksheet 4, column (b)
c
Add lines 4a and 4b
4c
5
5
Add lines 1c, 2c, 3c, and 4c
6
6
Enter the tax attributable to net passive income (see page 9)
7
7
Subtract line 6 from line 5. If line 6 is more than or equal to line 5, enter -0- and see page 10
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 II, III, or IV. Instead, go to line 37.
Part II
Special Allowance for Rental Real Estate Activities With Active Participation
Note: Complete this part only if you have an amount on line 1c. Otherwise, go to Part IIl.
8
8
Enter the smaller of line 1c or line 7
9
9
Enter $150,000. If married filing separately, see page 10
10
Enter modified adjusted gross income, but not less than zero (see
page 10). If line 10 is equal to or more than line 9, skip lines 11 through
10
15 and enter -0- on line 16
11
11
Subtract line 10 from line 9
12
Multiply line 11 by 50% (.50). Do not enter more than $25,000. If
12
married filing separately, see page 11
13a
Enter the amount, if any, from line 10 of
13a
Form 8582
b
Enter the amount, if any, from line 14 of
13b
Form 8582
13c
c
Add lines 13a and 13b
14
14
Subtract line 13c from line 12
15
15
Enter the tax attributable to the amount on line 14 (see page 11)
16
Enter the smaller of line 8 or line 15
16
8582-CR
For Paperwork Reduction Act Notice, see page 16 of the instructions.
Cat. No. 64641R
Form
(2006)
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