Form 8582-Cr - Passive Activity Credit Limitations - 2006 Page 2
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Form 8582-CR (2006)
Page
Part III
Special Allowance for 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)
Note: Complete this part only if you have an amount on line 2c. Otherwise, go to Part IV.
17
17 Enter the amount from line 7
18
18 Enter the amount from line 16
19 Subtract line 18 from line 17. If zero, enter -0- here and on lines 30 and 36, and then go to
19
Part V
20
20 Enter the smaller of line 2c or line 19
21 Enter $250,000. If married filing separately, see page 12. (See page 12
21
to find out if you can skip lines 21 through 26.)
22
Enter modified adjusted gross income, but not less than zero. (See
instructions for line 10 on page 10.) If line 22 is equal to or more than
22
line 21, skip lines 23 through 29 and enter -0- on line 30
23
23
Subtract line 22 from line 21
24
Multiply line 23 by 50% (.50). Do not enter more than $25,000. If married
24
filing separately, see page 12
25a
Enter the amount, if any, from line 10 of
25a
Form 8582
b
Enter the amount, if any, from line 14 of
25b
Form 8582
25c
c
Add lines 25a and 25b
26
26
Subtract line 25c from line 24
27
27
Enter the tax attributable to the amount on line 26 (see page 12)
28
28
Enter the amount, if any, from line 18
29
29
Subtract line 28 from line 27
30
Enter the smaller of line 20 or line 29
30
Part IV
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
31
If you completed Part III, enter the amount from line 19. Otherwise, subtract line 16 from line 7
32
32
Enter the amount from line 30
33
33
Subtract line 32 from line 31. If zero, enter -0- here and on line 36
34
34
Enter the smaller of line 3c or line 33
35
35
Tax attributable to the remaining special allowance (see page 12)
36
Enter the smaller of line 34 or line 35
36
Passive Activity Credit Allowed
Part V
37 Passive Activity Credit Allowed. Add lines 6, 16, 30, and 36. See page 12 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) on page 15
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 page 16
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
$
8582-CR
Form
(2006)
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