Form 8582-K - Kentucky Passive Activity Loss Limitations - 2013

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2013
8582-K
*1300030025*
42A740-S18
K
ENTUCKY
Department of Revenue
P
A
L
L
ASSIVE
CTIVITY
OSS
IMITATIONS
➤ See federal instructions and worksheets for Form 8582.
➤ Attach to Form 740, 740-NP or 741.
Enter name(s) as shown on tax return.
Social Security or Federal Identification Number
PART I—2013 Passive Activity Loss (See instructions on reverse.)
Rental Real Estate Activities With Active Participation (For the definition of active participation, see Active
Participation in a Rental Real Estate Activity in the federal instructions.)
1. a Activities with net income (from worksheet 1, column (a))..........................................1a
b Activities with net loss (from worksheet 1, column (b)) ...............................................1b (
)
c Prior year unallowed losses (from worksheet 1, column (c)) ....................................... 1c (
)
d Combine lines 1a through 1c ............................................................................................................................. 1d
Commercial Revitalization Deductions From Rental Real Estate Activities
2. a Commercial revitalization deductions from worksheet 2, column (a) .........................2a (
)
b Prior year unallowed commercial revitalization deductions from
worksheet 2, column (b) ..................................................................................................2b (
)
c Add lines 2a and 2b ............................................................................................................................................ 2c (
)
All Other Passive Activities
3. a Activities with net income (from worksheet 3, column (a))..........................................3a
b Activities with net loss (from worksheet 3, column (b)) ...............................................3b (
)
c Prior year unallowed losses (from worksheet 3, column (c)) ....................................... 3c (
)
d Combine lines 3a through 3c ............................................................................................................................. 3d
4. Combine lines 1d, 2c and 3d. If the result is net income or zero, all losses are allowed, including
any prior year unallowed losses entered on line 1c, 2b or 3c. Do not complete Form 8582-K. Report
the losses on the forms and schedules normally used ........................................................................................ 4
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 line 15.
Caution: 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 or Part III. Instead, go to line 15.
PART II—Special Allowance for Rental Real Estate With Active Participation
Note: See federal instructions for how to treat numbers as positive amounts in Part II.
5. Enter the smaller of the loss on line 1d or the loss on line 4 ............................................................................... 5
6. Enter $150,000; $75,000 if married filing separately or separate on a combined return ... 6
7. Enter modified adjusted gross income, but not less than zero (see federal
instructions). If line 7 is equal to or greater than line 6, skip lines 8 and 9,
enter zero on line 10. Otherwise, go to line 8 ..................................................................... 7
8. Subtract line 7 from line 6 .................................................................................................... 8
9. Multiply line 8 by 50% (.5). Do not enter more than $25,000;
$12,500 if filing separately or separate on a combined return ............................................................................. 9
10. Enter the smaller of line 5 or line 9. If line 2c is a loss, go to Part III. Otherwise, go to line 15 ......................... 10
PART III—Special Allowance for Commercial Revitalization Deductions From Rental Real Estate Activities
Note: See federal instructions for how to treat numbers as positive amounts in Part III.
11. Enter $25,000 reduced by the amount, if any, on line 10. If married filing separately, see instructions .......... 11
12. Enter the loss from line 4 ........................................................................................................................................ 12
13. Reduce line 12 by the amount on line 10 ............................................................................................................... 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, on lines 1a and 3a and enter the total ............................................................................ 15
16. Total losses allowed from all passive activities for 2013. Add lines 10, 14 and 15. Form 740 filers
see reverse; other filers see federal instructions on how to report the losses on your tax return ................... 16

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