Form 3802 - Corporate Passive Activity Loss And Credit Limitations - 2013
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1
2Corporate Passive Activity Loss
TAXABLE YEAR
CALIFORNIA FORM
2013
and Credit Limitations
3802
Attach to Form 100 or Form 100W (personal service corporations and closely held C corporations only).
Corporation name
California corporation number
Part I 2013 Passive Activity Loss
Before completing Part I, complete federal Worksheet 1 and Worksheet 2 in the instructions for federal Form 8810 using California amounts.
1 a Current year income from federal Worksheet 2, column (a) . . . . . . . . . . . . . . . . . . . . . . . . 1a
00
b Current year deductions and losses from federal Worksheet 2, column (b) . . . . . . . . . . . . 1b (
) 00
c Prior year unallowed losses from federal Worksheet 2, column (c). . . . . . . . . . . . . . . . . . .
1c (
) 00
d Combine line 1a, line 1b, and line 1c. If the result is net income or zero, see instructions . . . . . . . . . . . . . . . . . . . . . . . . .
1d
00
2 Closely held C corporations, enter net active income. See instructions. Personal service corporations, enter -0- . . . . . . . . . .
2
00
3 Unallowed passive activity deductions and losses. Combine line 1d and line 2. If the result is net income or zero,
see the instructions for line 1d and line 3. Otherwise, go to line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
00
4 Total deductions and losses allowed. Add the income, if any, on line 1a and line 2. See instructions . . . . . . . . . . . . . . . . . .
4
00
Part II 2013 Passive Activity Credits
Before completing Part II, complete federal Worksheet 5 in the instructions for federal Form 8810 using California amounts.
5 a Current year passive activity credits from federal Worksheet 5, column (a) . . . . . . . . . . . . 5a
00
b Prior year unallowed credits from federal Worksheet 5, column (b) . . . . . . . . . . . . . . . . . . 5b
00
6 Combine line 5a and line 5b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
00
7 Enter the tax attributable to net active income and net passive income. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
00
8 Unallowed passive activity credit. Subtract line 7 from line 6. If zero or less, enter -0-. See instructions . . . . . . . . . . . . . . .
8
00
9 Allowed passive activity credit. Subtract line 8 from line 6. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
00
Part III Election to Increase Basis of Credit Property
10 If the corporation disposed of its entire interest in a passive activity or former passive activity in a fully taxable transaction, and it elects to increase the basis
of credit property used in that activity by the unallowed credit that reduced the property’s basis, check here . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11 Name of passive activity disposed of ____________________________________________________________________________________________
12 Description of the credit property for which the election is being made __________________________________________________________________
____________________________________________________________________________________________________________________________
00
13 Amount of unallowed credit that reduced the property’s basis for California purposes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ __________________
General Information
year unallowed credits) exceed the tax attributable to
The following may affect the computation of the
corporation’s passive loss and credit limitation:
net passive income. A closely held C corporation has
In general, for taxable years beginning on or after
a passive activity credit for the year if its credits from
•
Passive loss rules (IRC Section 469(c)(7)):
January 1, 2010, California law conforms to the
passive activities (including prior year unallowed
Beginning in 1994, and for federal purposes only,
Internal Revenue Code (IRC) as of January 1, 2009.
credits) exceed the sum of the tax attributable to net
rental real estate activities of taxpayers engaged
However, there are continuing differences between
passive income and the tax attributable to net active
in a real property business are not automatically
California and federal law. When California conforms
income.
treated as passive activities. California did
to federal tax law changes, we do not always adopt
Form FTB 3802 closely follows federal Form 8810.
not conform to this provision. For California
all of the changes made at the federal level. For
purposes, all rental activities are passive
In general, if the corporation completed federal
more information, go to ftb.ca.gov and search for
Form 8810 to determine the amount of the federal
activities regardless of the level of participation.
conformity. Additional information can be found
PAL and credit limitations, the corporation must also
in FTB Pub. 1001, Supplemental Guidelines to
A Purpose
complete form FTB 3802.
California Adjustments, the instructions for California
Schedule CA (540 or 540NR), and the Business
Personal service corporations and closely held
Using California amounts, complete federal
Entity tax booklets.
C corporations use form FTB 3802, Corporate
Worksheet 1 through Worksheet 6 in the instructions
Passive Activity Loss and Credit Limitations, to figure
for federal Form 8810 to determine the amounts to
The instructions provided with California tax forms
the amount of any passive activity loss (PAL) or
enter on form FTB 3802. Keep both the California and
are a summary of California tax law and are only
credit for the current taxable year and the amount
federal worksheets for the corporation’s records.
intended to aid taxpayers in preparing their state
of losses and credits from passive activities allowed
income tax returns. We include information that is
B Special Rules
on the corporation’s tax return. See the instructions
most useful to the greatest number of taxpayers
for federal Form 8810 for the definitions of personal
S Corporations
in the limited space available. It is not possible to
service corporations and closely held C corporations.
S corporations must use form FTB 3801, Passive
include all requirements of the California Revenue
Activity Loss Limitations, and form FTB 3801-CR,
and Taxation Code (R&TC) in the tax booklets.
A personal service corporation has a PAL for the
taxable year if the total losses (including prior year
Passive Activity Credit Limitations, instead of
Taxpayers should not consider the tax booklets as
form FTB 3802 to figure the California PAL and credit
authoritative law.
unallowed losses) from all of the corporation’s
passive activities exceed the total income from all of
limitations.
Disclosure Requirements for Groupings – For
the corporation’s passive activities. A closely held
taxable years beginning on or after January 25, 2010,
Publicly Traded Partnerships (PTPs)
C corporation has a PAL for the taxable year if the
A PTP is a partnership whose interests are traded
Revenue Procedure 2010-13 regarding disclosure
total losses (including prior year unallowed losses)
on an established securities market or are readily
requirements for groupings is generally applicable
from all its passive activities exceed the sum of the
tradable on a secondary market (or its substantial
for California purposes. A separate disclosure
total income from all its passive activities and its net
equivalent).
statement is not required if a disclosure statement is
active income.
filed with the Internal Revenue Service. Get federal
Because California and federal laws differ, PTPs may
A personal service corporation has passive activity
Form 8810, Corporate Passive Activity Loss and
have different income amounts for state and federal
Credit Limitations, for more information.
credits if the passive activity credits (including prior
purposes (see form FTB 3801). However, when
FTB 3802 2013 Side 1
7471133
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