Instructions For Form 8582cr - Passive Activity Credit Limitations Page 7
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16Step 4. Mr. Jones follows the instructions for Worksheet 3 and enters the total credits from column (a) of that worksheet on Form 8582-CR,
line 3a. He enters the total credits on line 3c and completes lines 5 through 7. Mr. Jones can skip Parts II and III and go to Part IV because the
only credit he has is from a post-1989 low-income housing credit. He must also complete the computation for line 35 in the instructions to
get the amount to enter on line 35 of the form.
Passive Activity Credit Limitations
8582-CR
OMB No. 1545-1034
Form
See separate instructions.
(Rev. January 2012)
Attachment
Department of the Treasury
89
Sequence No.
Attach to Form 1040 or 1041.
Internal Revenue Service
Name(s) shown on return
Identifying number
John and Mary Jones
123-00-4567
Part I
Passive Activity Credits
Caution: If you have credits from a publicly traded partnership, see Publicly Traded Partnerships (PTPs) in 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 in the instructions.)
1 a Credits from Worksheet 1, column (a) . . . . . . . . . .
1a
b Prior year unallowed credits from Worksheet 1, column (b) . . .
1b
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 in the instructions.)
2 a Credits from Worksheet 2, column (a) . . . . . . . . . .
2a
b Prior year unallowed credits from Worksheet 2, column (b) . . .
2b
c Add lines 2a and 2b
2c
. . . . . . . . . . . . . . . . . . . . . . . . .
Low-Income Housing Credits for Property Placed in Service After 1989 (See Lines 3a through 3c
in the instructions.)
3a Credits from Worksheet 3, column (a) . . . . . . . . . .
3a
12,000
b Prior year unallowed credits from Worksheet 3, column (b) . . .
3b
c Add lines 3a and 3b
. . . . . . . . . . . . . . . . . . . . . . . . .
3c
12,000
All Other Passive Activity Credits (See Lines 4a through 4c in the instructions.)
4 a Credits from Worksheet 4, column (a) . . . . . . . . . .
4a
b Prior year unallowed credits from Worksheet 4, column (b) . . .
4b
c Add lines 4a and 4b
. . . . . . . . . . . . . . . . . . . . . . . . .
4c
12,000
5
5
Add lines 1c, 2c, 3c, and 4c . . . . . . . . . . . . . . . . . . . . . . .
6
Enter the tax attributable to net passive income (see instructions)
. . . . . . . . . .
6
-0-
12,000
7
7
Subtract line 6 from line 5. If line 6 is more than or equal to line 5, enter -0- and see instructions
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 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.
12,000
31
If you completed Part III, enter the amount from line 19. Otherwise, subtract line 16 from line 7 .
31
32
Enter the amount from line 30 . . . . . . . . . . . . . . . . . . . . . .
32
-0-
12,000
33
Subtract line 32 from line 31. If zero, enter -0- here and on line 36 . . . . . . . . . .
33
34
Enter the smaller of line 3c or line 33 . . . . . . . . . . . . . . . . . . . .
34
12,000
8,250
35
Tax attributable to the remaining special allowance (see instructions) . . . . . . . . .
35
36
Enter the smaller of line 34 or line 35 . . . . . . . . . . . . . . . . . . . .
36
8,250
-7-
Instructions for Form 8582-CR (Rev. 01-2012)
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