Form 8582-K - Kentucky Passive Activity Loss Limitations - 2013 Page 2
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1
2Instructions for Form 8582-K
PURPOSE OF FORM—Form 8582-K is used when the
STEP 2
allowable Kentucky passive losses for the taxable
year differ from allowable federal passive losses.
Complete page 1 of Form 8582-K using the federal
The worksheet is used to calculate the additions or
instructions for Form 8582 and Kentucky amounts for
subtractions to federal adjusted gross income in
all entries.
determining Kentucky adjusted gross income.
STEP 3
Form 8582-K must be completed using Kentucky income
(losses) if: (1) federal Form 8582, Passive Activity
Complete federal worksheets for federal Form 8582
Loss Limitations, is required and Kentucky passive
using the federal instructions and Kentucky amounts
income (losses) and federal passive income (losses)
for all entries.
are different or (2) Kentucky prior year unallowed
(suspended) losses and federal prior year unallowed
STEP 4
(suspended) losses are different.
Complete the Passive Activities Adjustment Worksheet
If Form 8582-K is not required, include adjustments for
below.
any differences in Kentucky passive income/loss and
federal passive income/loss on the appropriate lines
*NOTE: If a separate/combined return is being filed
of Schedule M.
for Kentucky, and the federal return is filed jointly,
complete separate Kentucky Forms 8582-K, worksheets
If Form 8582-K is required, do not include on Schedule
and schedules for each spouse. If an activity is jointly
M other adjustments to federal adjusted gross income
owned, 50 percent of the total income or loss should
for passive activities.
be allocated to each spouse with their separately
owned income or losses. In all cases each item must
Use the following steps to compute an addition or
be identified on the federal schedules as H—husband,
subtraction to be entered on Schedule M for passive
W—wife or J—jointly to properly determine income
activities.
on a separate basis. On lines B and D of the worksheet
enter each spouse’s portion of the joint federal
STEP 1*
income. The federal passive loss limitations will still
be computed on a joint basis. Do not recompute the
Complete federal worksheets 1 and 2 for federal Form
joint federal Form 8582 on a separate basis to compare
8582 using the federal instructions and Kentucky
to the Kentucky Forms 8582-K.
amounts for all entries.
Passive Activities Adjustment Worksheet
A.
Enter as a negative amount Kentucky allowable losses from line 16, Form 8582-K ...........
B.
Enter as a positive amount federal allowable losses from federal Form 8582** ................
C.
Enter as a positive amount Kentucky passive income from line 15, Form 8582-K ..............
D.
Enter as a negative amount federal passive income from federal Form 8582** ................
E.
Passive income or loss adjustment. Combine lines A, B, C and D ..........................................................................
If the amount on line E is positive, enter as an Other Addition on Schedule M. If the amount on line E is negative,
enter as an Other Subtraction on Schedule M.
**If federal Form 8582 is not required, enter on line B any passive losses included in federal adjusted gross income. Also, enter on line
D any passive income included in federal adjusted gross income.
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