Form It-182 - Passive Activity Loss Limitations For Nonresidents And Part-Year Residents - 2014

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New York State Department of Taxation and Finance

IT-182

Passive Activity Loss Limitations

For Nonresidents and Part-Year Residents

Submit with your Form IT-203 or IT-205.

Name as shown on return

Identifying number as shown on return

See the instructions on page 4, before completing this form.

Part I – Passive activity loss

Rental real estate activities with active participation

1a Activities with net income from Worksheet 1, column (a) ............................... 1a

1b Activities with net loss from Worksheet 1, column (b) .................................... 1b

1c Prior years unallowed losses from Worksheet 1, column (c)

(see instructions)

1d Add lines 1a, 1b, and 1c............................................................................................................................ 1d

Commercial revitalization deductions from rental real estate activities

2a Commercial revitalization deductions from Worksheet 2, column (a) ............ 2a

2b Prior year unallowed commercial revitalization deductions from Worksheet 2, column (b) 2b

2c Add lines 2a and 2b .................................................................................................................................. 2c

All other passive activities

3a Activities with net income from Worksheet 3, column (a) ............................... 3a

3b Activities with net loss from Worksheet 3, column (b) .................................... 3b

3c Prior years unallowed losses from Worksheet 3, column (c)

(see instructions)

3d Add lines 3a, 3b, and 3c............................................................................................................................ 3d

4 Add lines 1d, 2c, and 3d. Note: If this line is zero or more, stop here and submit this form with your return; all losses are allowed,

including any prior year unallowed losses entered on line 1c, 2b, or 3c. Report the losses on the

forms and schedules normally used. .....................................................................................................

If line 4 is a loss and: • Line 1d is a loss, go to Part II.

• Line 2c is a loss (and line 1d is zero or more), skip Part II and go to Part III.

• Line 3d is a loss (and lines 1d and 2c are zero or more), skip Parts II and III and go to Part IV, line 15.

Caution: If married filing separately, filing status , and you lived with your spouse at any time during the year, do not complete Part II

or Part III. Instead, go to line 15.

Part II – Special allowance for rental real estate activities with active participation

Note: Enter all numbers in Part II as positive amounts (greater than zero). See instructions.

5 Enter the smaller of the loss on line 1d or the loss on line 4 .....................................................................

6 Enter 150,000

(if married filing separately, see instructions)

.................................

7 Enter federal modified adjusted gross income, but not less than zero

(see instr.)

Note: If line 7 is greater than or equal to line 6, skip lines 8 and 9, and

leave line 10 blank. Otherwise, go to line 8.

8 Subtract line 7 from line 6 ..............................................................................

9 Multiply line 8 by 50% (.5). Do not enter more than 25,000.

(If married filing separately, filing status , see instr.)

.....

10 Enter the smaller of line 5 or line 9 ........................................................................................................... 10

If line 2c is a loss, go to Part III. Otherwise, go to line 15.

Part III – Special allowance for commercial revitalization deductions from rental real estate activities

Note: Enter all numbers in Part III as positive amounts (greater than zero). See instructions.

11 Enter 25,000 reduced by the amount, if any, on line 10.

(If married filing separately, filing status , see instr.)

12 Enter the loss from line 4 .......................................................................................................................... 12

13 Subtract line 10 from line 12 .................................................................................................................... 13

14 Enter the smallest of line 2c (treated as a positive amount), line 11, or line 13 ........................................ 14

Part IV – Total losses allowed

15 Add the income, if any, from lines 1a and 3a and enter the total .............................................................. 15

(Add lines 10, 14, and 15. See the

16 Total losses allowed from all passive activities for this year.

instructions to find out how to report the losses on your return.)

...................................................................... 16

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