Form It-182 - Passive Activity Loss Limitations (Nonresidents And Part-Year Residents) - New York State Department Of Taxation - 2010 Page 4
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4Instructions
Page 4 of 4 IT-182 (2010)
General instructions
Part II — Special allowance for rental real estate activities
with active participation
New York State Tax Law conforms to the passive activity loss rules
Use Part II to compute the maximum amount of rental loss allowed
for federal purposes. However, any deduction for a passive activity
for New York purposes if you have a net loss from a rental real estate
loss (PAL) for a nonresident or part-year resident must be recomputed
activity with active participation. Enter all numbers in Part II as positive
to determine the amount that is allowed if the federal adjusted gross
amounts (greater than zero).
income took into account only items of income, gain, loss, or deduction
derived from or connected with New York sources.
See the instructions for federal Form 8582 for specific line instructions
and examples.
Purpose of form
Line 6 — Married persons filing separate returns who lived apart from
Nonresident or part-year resident individuals, estates or trusts must file
their spouses at all times during the year must enter $75,000 on line 6
Form IT-182, Passive Activity Loss Limitations, to report the amount of
instead of $150,000. Married persons filing separate returns who lived
allowed passive activity losses from New York sources for the current
with their spouses at any time during the year are not eligible for the
tax year.
special allowance. Leave line 10 blank and go to line 15.
It is possible, because of the above rules, for a nonresident to have
Line 7 — See the instructions for federal Form 8582 to compute your
a PAL for New York State without having a PAL for federal purposes,
federal modified adjusted gross income. Enter on line 7 your modified
or to have a New York State PAL that is larger or smaller than the
adjusted gross income using only those amounts derived from or
corresponding federal PAL. A nonresident or part-year resident
connected with New York sources.
individual, estate or trust claiming a PAL for New York State purposes
Line 9 — Do not enter more than $12,500 on line 9 if you are married
but not for federal income tax purposes must file Form IT-203,
filing a separate return and you and your spouse lived apart at all times
Nonresident and Part-Year Resident Income Tax Return, or Form IT-205,
during the year. Married persons filing separate returns who lived with
Fiduciary Income Tax Return, to report the carryover of any PAL derived
their spouses at any time during the year are not eligible for the special
from or connected with New York sources.
allowance. Leave line 10 blank and go to line 15.
If you were a part-year resident, you must recalculate your PAL
limitations as if separate federal returns were filed for your resident
Part III — Special allowance for commercial revitalization
and nonresident periods using only those items of income, gain, loss,
deductions from rental real estate activities
or deduction attributable to each period. For the resident period,
Use Part III to compute the maximum amount of commercial
compute the New York PAL using only those items of income, gain,
revitalization deductions allowed if you have a commercial revitalization
loss, and deduction that would have been reported if a separate federal
deduction (CRD) from a rental real estate activity within New York State.
return was filed for the period of New York State residence. For the
For more information about the CRD, see the instructions for federal
nonresident period, compute the New York PAL using only those items
Form 8582, federal Form 4562, Depreciation and Amortization, or
of income and loss derived from or connected with New York sources.
section 1400I of the Internal Revenue Code.
Generally, losses from passive activities are subject to other limitations,
Enter all numbers in Part III as positive amounts (greater than zero).
such as basis and at-risk limitations, before they are subject to the
passive loss limitations. Once a loss becomes allowable under these
Line 11 — If you are married filing a separate return and you and your
other limitations, you must determine whether the loss is limited under
spouse lived apart at all times during the year, enter $12,500 (reduced
the passive loss rules. See the instructions for federal Form 6198,
by the amount, if any, on line 10). Married persons filing separate returns
At-Risk Limitations, and federal Publication 925, Passive Activity and
who lived with their spouses at any time during the year are not eligible
At-Risk Rules, for details on the at-risk rules.
for the special allowance. Leave line 14 blank and go to line 15.
Specific instructions
Part IV — Total losses allowed
Use Part IV to compute the amount of the PAL from New York sources
See the instructions for your tax return for the Privacy notification or if
(as determined in Part I) allowed for this year.
you need help contacting the Tax Department.
Line 16 — Use the worksheets provided with this form and the
Before completing Form IT-182, compute your federal PAL limitation
instructions for Part IV of federal Form 8582, Worksheet 1 through
using federal Form 8582, Passive Activity Loss Limitations, and the
Worksheet 7, to calculate the unallowed loss from New York sources
federal worksheets attached to Form 8582. Then complete Form IT-182
to be carried forward and the allowed loss from New York sources of
and the New York worksheets attached to Form IT-182 using only those
each activity. Report the amounts allowed in the New York State amount
activities included on federal Form 8582 derived from or connected with
column of Form IT-203 or on Form IT-205-A, Fiduciary Allocation.
New York sources. Part-year residents see General instructions above.
Complete the worksheets provided with this form, using only those
If you were not required to file federal Form 8582 due to one of the
items of income or loss derived from or connected with New York
exceptions described in the instructions for federal Form 8582,
sources. (Also see Part IV of the instructions for federal Form 8582.)
complete the federal worksheets attached to Form 8582 as if you were
required to file the federal form. Then complete Form IT-182 using only
How to report allowed losses — See How To Report Allowed Losses
those activities derived from or connected with New York sources.
in the instructions for federal Form 8582. Follow the instructions
and use Worksheet 6 and Worksheet 7 to identify the amount of
Part I — Passive activity loss
allowed losses from each activity from New York sources. Report the
Use Part I to combine the net income and net loss from all New York
recomputed amounts of the New York allowed loss for each activity in
passive activities to determine if you have a PAL from New York sources
the New York State amount column of Form IT-203 or on Form IT-205-A
for this year.
on the same line on which the loss was reported for federal purposes.
Enter the amounts on lines 1a through 4 using Worksheets 1, 2, and 3
Attach Form IT-182 to your Form IT-203 or Form IT-205.
on page 2.
Retention of records — Keep a copy of Form IT-182 and the
Worksheets 1, 2, and 3. Enter the name of the activity or the
worksheets used to calculate the amounts reported on Form IT-203
description and address of the property. Enter the acquisition date
or on Form IT-205-A for three years after the sale or disposition of all
and the sale date in Worksheets 1 and 3, if applicable, of rental real
activities included on the form.
estate activity in the columns indicated. See the instructions for federal
Form 8582 for specific line instructions and examples for completing
the worksheets. Complete the worksheets using only those items
1824100094
of income, gain, loss, or deduction derived from or connected with
New York sources.
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