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If you have amounts other

b. If a loss is reported in box 1,

report on Schedule E (Form 1040),

than those shown on

follow the Instructions for Form 8582

line 28, column (f).

Schedule K-1 to report on

to figure how much of the loss can be

3. If you were a real estate

CAUTION

Schedule E (Form 1040), enter each

reported on Schedule E (Form 1040),

professional and you materially

item separately on Schedule E (Form

line 28, column (f).

participated in the activity, report

1040), line 28.

box 2 income (loss) on Schedule E

Box 2. Net Rental Real Estate

(Form 1040), line 28, column (h) or (j).

Income (Loss)

Codes. In box 10 and boxes 12

4. If you have income from a

through 17, the corporation will

Generally, the income (loss) reported

passive activity in box 2, report the

identify each item by entering a code

in box 2 is a passive activity amount

income on Schedule E (Form 1040),

in the column to the left of the dollar

for all shareholders. However, the

line 28, column (g).

amount entry space. These codes are

income (loss) in box 2 isn't from a

identified on page 2 of Schedule K-1

passive activity if you were a real

Box 3. Other Net Rental Income

and in these instructions.

estate professional (defined earlier)

(Loss)

and you materially participated in the

Attached statements. The

The amount in box 3 is a passive

activity. If the corporation had more

corporation will enter an asterisk (*)

activity amount for all shareholders. If

than one rental real estate activity, it

after the code, if any, in the column to

the corporation had more than one

will attach a statement identifying the

the left of the dollar amount entry

rental activity, it will attach a statement

income or loss from each activity.

space for each item for which it has

identifying the income or loss from

attached a statement providing

If you are filing a 2017 Form 1040,

each activity. After applying the

additional information. For those

use the following instructions to

limitations on losses and deductions,

informational items that can't be

determine where to report a box 2

report the income or loss as follows.

reported as a single dollar amount,

amount after applying the basis and

1. If box 3 is a loss, follow the

the corporation will enter an asterisk in

at-risk limitations on losses. See

Instructions for Form 8582 to figure

the left column and enter “STMT” in

Limitations on Losses, Deductions,

how much of the loss can be reported

the dollar amount entry space to

and

Credits, earlier.

on Schedule E (Form 1040), line 28,

indicate the information is provided on

1. If you have a loss from a

column (f).

an attached statement.

passive activity in box 2 and you meet

2. If income is reported in box 3,

all the following conditions, report the

Income (Loss)

report the income on Schedule E

loss on Schedule E (Form 1040),

(Form 1040), line 28, column (g).

Box 1. Ordinary Business

line 28, column (f).

See

Limitations on Losses,

Income (Loss)

a. You actively participated in the

Deductions, and

Credits, earlier.

corporate rental real estate activities.

The amount reported in box 1 is your

See

Special allowance for a rental real

Portfolio Income

share of the ordinary income (loss)

estate

activity, earlier.

from trade or business activities of the

Portfolio income or loss (shown in

corporation. Generally, where you

b. Rental real estate activities with

boxes 4 through 8b and in box 10,

report this amount on Form 1040

active participation were your only

code A) isn't subject to the passive

depends on whether the amount is

passive activities.

activity limitations. Portfolio income

from an activity that is a passive

includes income (not derived in the

c. You have no prior year

activity to you. If you are an individual

ordinary course of a trade or

unallowed losses from these

shareholder filing a 2017 Form 1040,

business) from interest, ordinary

activities.

find your situation below and report

dividends, annuities, or royalties, and

d. If you are a married person filing

your box 1 income (loss) as instructed

gain or loss on the sale of property

separately, you lived apart from your

after applying the basis and at-risk

that produces such income or is held

spouse all year.

limitations on losses. See

Limitations

for investment.

e. Your total loss from the rental

on Losses, Deductions, and

Credits,

Box 4. Interest Income

real estate activities wasn't more than

earlier. If the corporation had more

$25,000 (not more than $12,500 if

Report interest income on Form 1040,

than one trade or business activity, it

married filing separately).

line 8a.

will attach a statement identifying the

income or loss from each activity.

f. You have no current or prior

Box 5a. Ordinary Dividends

year unallowed credits from a passive

1. Report box 1 income (loss) from

Report ordinary dividends on Form

activity.

corporate trade or business activities

1040, line 9a.

in which you materially participated on

g. Your modified adjusted gross

Box 5b. Qualified Dividends

Schedule E (Form 1040), line 28,

income wasn't more than $100,000

column (h) or (j).

(not more than $50,000 if married

Report any qualified dividends on

filing separately and you lived apart

Form 1040, line 9b.

2. Report box 1 income (loss) from

from your spouse all year).

corporate trade or business activities

Qualified dividends are

in which you didn't materially

2. If you have a loss from a

excluded from investment

TIP

participate, as follows.

passive activity in box 2 and you don't

income, but you may elect to

meet all the conditions in (1) above,

a. If income is reported in box 1,

include part or all of these amounts in

follow the Instructions for Form 8582

report the income on Schedule E

investment income. See the

to figure how much of the loss you can

(Form 1040), line 28, column (g).

instructions for line 4g of Form 4952,

-11-

Instructions for Schedule K-1 (Form 1120S) (2017)

Instructions For Schedule K-1 (Form 1120s) - Shareholder'S Share Of Income, Deductions, Credits, Etc. - 2017 Page 11

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