Instructions For Form 8582cr - Passive Activity Credit Limitations (Page 10 of 16) in pdf

Lines 3a and 3b. Use Worksheet 3 to gure the amounts to enter on lines 3a and 3b for low-income housing credits for property

placed in service after 1989. If you held an indirect interest in the property through a partnership, S corporation, or other pass-through

entity, use Worksheet 3 only if you also acquired your interest in the pass-through entity after 1989. Use line 3a for the current year

credits and line 3b for prior year unallowed credits for those activities.

Enter “Form 3800, line” followed by the appropriate line number (2, 23, or 32) in the “From Form” column.

After you complete the worksheet below, enter the totals of columns (a) and (b) on the corresponding lines of Form 8582-CR and

then complete line 3c.

Worksheet 3 for Lines 3a and 3b

(keep for your records)

Current Year

Prior Year

Total Credits

Credits

Unallowed Credits

From

Name of Activity

Form

(a) Credit line 3a

(b) Credit line 3b

Totals. Enter on lines 3a and 3b of Form 8582-CR

Lines 4a and 4b. Use Worksheet 4 to gure the amounts to enter on lines 4a and 4b. Use line 4a for all other passive activity credits for

the current year and line 4b for prior year unallowed credits from those activities.

For credits from Form 3800, enter the source form (for example, Form 3468 or Form 6765) and “Form 3800, line” followed by the

appropriate line number (2, 23, or 32) in the “From Form” column.

After you complete the worksheet below, enter the totals of columns (a) and (b) on the corresponding lines of Form 8582-CR and

then complete line 4c.

Worksheet 4 for Lines 4a and 4b

(keep for your records)

Current Year

Prior Year

Total Credits

Credits

Unallowed Credits

From

Name of Activity

Form

(a) Credit line 4a

(b) Credit line 4b

Totals. Enter on lines 4a and 4b of Form 8582-CR

you have net passive income if line 4

actively participate for both years,

property placed in service after 1989

of Form 8582 shows income. For

include the credits in Worksheet 4,

must include those credits on lines 3a

more information, see the instructions

not in Worksheet 1.

through 3c. If you held an indirect

for Form 8582-CR, line 6.

interest in the property through a

Lines 2a through 2c. Individuals

partnership, S corporation, or other

Lines 1a through 1c. Individuals

(including limited partners) and

pass-through entity, use lines 3a

and qualifying estates that actively

qualifying estates who had

through 3c only if you also acquired

participated in rental real estate

rehabilitation credits from rental real

your interest in the pass-through

activities must include the credits

estate activities or low-income

entity after 1989. Use Worksheet 3 to

(other than rehabilitation credits or

housing credits for property placed in

figure the amounts to enter on lines

low-income housing credits) from

service before 1990 must include the

3a and 3b.

these activities on lines 1a through

credits from those activities on lines

1c. Use Worksheet 1 to figure the

2a through 2c. Use Worksheet 2 to

Include the credits in

amounts to enter on lines 1a and 1b.

figure the amounts to enter on lines

Worksheet 4, but not in

2a and 2b.

See Special Allowance for Rental

Worksheet 2 or 3, if you are

CAUTION

Real Estate Activities, earlier.

married filing a separate return and

If you have low-income housing

lived with your spouse at any time

credits for property placed in service

If you are married filing a

during the year.

after 1989, include those credits in

separate return and lived with

Worksheet 3 instead of Worksheet 2.

Lines 4a through 4c. Individuals

your spouse at any time

CAUTION

If you held an indirect interest in the

must include on lines 4a through 4c

during the year, even if you actively

property through a partnership, S

credits from passive activities that

participated in the rental real estate

corporation, or other pass-through

were not entered on Worksheets 1, 2,

activity, include the credits in

entity, use Worksheet 3 only if you

or 3. Trusts must include credits from

Worksheet 4, not in Worksheet 1.

also acquired your interest in the

all passive activities in Worksheet 4.

Note. You may take credits that

pass-through entity after 1989.

Use Worksheet 4 to figure the

arose in a prior tax year (other than

amounts to enter on lines 4a and 4b.

Lines 3a through 3c. Individuals

low-income housing and rehabilitation

credits) under the special allowance

(including limited partners) and

Line 6. If Form 8582, line 4, shows

only if you actively participated in the

qualifying estates who had

net income or you did not complete

rental real estate activity for both that

low-income housing credits from

Form 8582 because you had net

prior year and this year. If you did not

rental real estate activities for

passive income, you must figure the

-10-

Instructions for Form 8582-CR (Rev. 01-2012)

Instructions For Form 8582cr - Passive Activity Credit Limitations Page 10

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