fill out form 8582

Jim Sarowski (SSN 000-00-2222) is 70 years old and single. In March of 2018, he purchased a duplex at 2006 Tennessee Street to use as rental property for $100,000, with 20% of the price allocated to land. During the year, he had the following receipts and expenditures with respect to the duplex: Rent receipts $8,800 Interest paid 5,900 Property taxes 1,400 Insurance 800 Maintenance 300 Other expenditures during the year: Contributions to the church $2,600 Personal property taxes 225 Sales tax 345 2018 tax was $200. Assume rental was rented out for all of the year while it was owned. Assume anytime given info mentions a month and year that you can use first date of the month. Prepare schedule e Document 1 8582 Passive Activity Loss Limitations So sparate instructions Attach to Form 1090, Form 1000-SR, Form 1041 Go to www.in.gov/Forms for instructions and the latest Information Department of the OU NO 1545-1000 2019 Ataca SBS Matember Nowentan Part 1 2019 Passive Activity Loss Caution Complete Worksheets 1, 2, and a before coming Part Rental Real Estate Activities With Active Participation For the definition of active participation, se Special Allowance for Rental Real Estate Activities in the instructions 1a Activities with not income jenter the amount from Workshoof 1, column Gall ta b Activities with not loss center the amount from Worksheet 1, column 15 Prior years' unallowed losses enter the amount from Worksheet 1, column To 10 d Combine lines 1a, 1b, and to Commercial Revitalization Deductions From Rental Real Estate Activities 2a Commercial revitalization deductions from Worlashout 2 column 2a b Prior year unallowed commercial revitalization deductions from Worksheet 2, column (b) 2b Add lines 2a and 2b 2c All Other Passive Activities 3a Activities with net income enter the amount from Worksheet 3. columnal 3a b Activities with not loss enter the amount from Worksheet 3 column bo 3b c Prior years' unallowed losses (enter the amount from Worksheet 3 column 30 d Combine lines 3a, 35, and 30 3d 4 Combine lines 1d. 20, and 3d. If this line is zero or more, stop here and include this form with your return all losses are allowed, including any prior year unalowed losses entered on line 10, 25, or 30. Report the losses on the forms and schedules normaly used 4 If line 4s a loss and Line 1d is a loss, go to Part Line 2c is a loss and line 1d is zero or more), skip Part II and go to Part II Une 3d is a loss and lines 1 and 2c are zero or more skip Parts Il and ill and go to line 15 Caution If your fing status is married filing separately and you lived with your spouse at any time during the year, do not completo Partilor Part. Instead, go to line 15 Parti Special Allowance for Rental Real Estate Activities With Active Participation Note: Enter all numbers in Partilas positive amounts. See Instructions for an example 5 Enter the smaller of the loss on line 1d or the loss on line 4 5 6 Enter $150,000. if married filing separately, so instructions 6 7 Enter modified adjusted gross income, but not less than zero. See Instructions 7 Noter if line 7 is greater than or equal to line 6, skip lines 8 and 9, onter-O-on tine 10. Otherwise, go to line 2 8 Subtract line 7 from line 6 8 9 Multiply line aby 50%60.50). Do not enter more than $25,000. If married in separately. See Instructions 9 10 Enter the smaller of line 5 or line 9 10 If line 2c is a los go to Part Otherwise, go to line 15 Part II Special Allowance for Commercial Revitalization Deductions From Rental Real Estate Activities Note: Enter all numbers in Part Ill as positive amount. See the example for Part in the instructions 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 the 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 in 11. or line 13 14 Part IV Total Losses Allowed 16 Add the income, tany, on lines 1a and 3a and enter the total 15 16 Total losses allowed from all passive activities for 2019. Add lines 10, 14 and 15. See Instructions to find out how to report the losses on your tax retum 16 For Paperwork Reduction Act Notice, se instructions Co No 06 For 85822019 DOLL Document Q Worksheet 1 -For Form 85B2, Lines 1o, 1b, and 1c (see Instructions Current your Name of activity (a) Not income b) Net loss line 1 Pine 1 Prior years Overall gain or loss (c) Unallowed loss dine 10) id) Gain (o) LOS Total Enter on Form 8582, inos 1a, 1b, and la Worksheet 2-For Form 8582, Lines 2a and 2b (see instruction) Name of activity a) Current year Prior year deductions dine 2a) unallowed deductions in 20) (c) Overall loss Total. Enter on Form 8582, lines 2a and 21 Worksheet 3-For Form 85B2, Lines 3a, 3b, and 3c(soo instructions Current year Name of activity (a) Net Income b) Not loss (line 32 Cine 36 Prior years Overall gain or loss (c) Unalowed lossine 3c) (dh Gain (e) Loss Total, Enter on Form 3582, Ines 3a, 3b, and 2c Worksheet 4-Use This Worksheet if an Amount is shown on Form 8682, Line 10 or 14. See instructions Form or schedule Name of activity and line number (d) Subtract (c) Special to be reported on (a) Loss (b) Ratio allowance column c from see instructions) column (al 1.00 Total Worksheet 5-Allocation of Unallowed Losses (see instructions) Form or schedule Name of activity and line number to be reported on fa Loss (See Instructions) (b) Ratio (c) Unallowed loss Total 1.00 Document 3 0 Page 3 For 2010 Worksheet 6-Allowed Losses (see instruction) Form or schedule and line number Name of activity to be reported on (see Instructions (a) LOSS (by nallowed loss (c) Allowed loss Total Worksheet 7 - Activities With Losses Reported on Two or More Forms or Schedules se instructions) Name of activity: (a) (b) (c) Ratio (d) Unallowed loss (e) Allowed loss Form or schedule and line number to be reported on (see Instructions): 1a Netloss plus prior year unallowed loss from form or schedule b Net Income from form or schedule c Subtract line 1b from line 1a. If zero or less enter- Form or schedule and line number to be reported on (see Instructions): 1a Net loss plus prior year unallowed loss from form or schedule b Net Income from formor schedule C Subtract line 1b from line 1a. If zero or less, enter-O- Form or schedule and line number to be reported on (see Instructions): 1a Netloss plus prior year unalowed Joss from form or schedule b Net Income from form of schedule Subtract line 1b from ineta. If zero or less, enter - - Total 1.00 Fonn 8582 2011 Jim Sarowski (SSN 000-00-2222) is 70 years old and single. In March of 2018, he purchased a duplex at 2006 Tennessee Street to use as rental property for $100,000, with 20% of the price allocated to land. During the year, he had the following receipts and expenditures with respect to the duplex: Rent receipts $8,800 Interest paid 5,900 Property taxes 1,400 Insurance 800 Maintenance 300 Other expenditures during the year: Contributions to the church $2,600 Personal property taxes 225 Sales tax 345 2018 tax was $200. Assume rental was rented out for all of the year while it was owned. Assume anytime given info mentions a month and year that you can use first date of the month. Prepare schedule e Document 1 8582 Passive Activity Loss Limitations So sparate instructions Attach to Form 1090, Form 1000-SR, Form 1041 Go to www.in.gov/Forms for instructions and the latest Information Department of the OU NO 1545-1000 2019 Ataca SBS Matember Nowentan Part 1 2019 Passive Activity Loss Caution Complete Worksheets 1, 2, and a before coming Part Rental Real Estate Activities With Active Participation For the definition of active participation, se Special Allowance for Rental Real Estate Activities in the instructions 1a Activities with not income jenter the amount from Workshoof 1, column Gall ta b Activities with not loss center the amount from Worksheet 1, column 15 Prior years' unallowed losses enter the amount from Worksheet 1, column To 10 d Combine lines 1a, 1b, and to Commercial Revitalization Deductions From Rental Real Estate Activities 2a Commercial revitalization deductions from Worlashout 2 column 2a b Prior year unallowed commercial revitalization deductions from Worksheet 2, column (b) 2b Add lines 2a and 2b 2c All Other Passive Activities 3a Activities with net income enter the amount from Worksheet 3. columnal 3a b Activities with not loss enter the amount from Worksheet 3 column bo 3b c Prior years' unallowed losses (enter the amount from Worksheet 3 column 30 d Combine lines 3a, 35, and 30 3d 4 Combine lines 1d. 20, and 3d. If this line is zero or more, stop here and include this form with your return all losses are allowed, including any prior year unalowed losses entered on line 10, 25, or 30. Report the losses on the forms and schedules normaly used 4 If line 4s a loss and Line 1d is a loss, go to Part Line 2c is a loss and line 1d is zero or more), skip Part II and go to Part II Une 3d is a loss and lines 1 and 2c are zero or more skip Parts Il and ill and go to line 15 Caution If your fing status is married filing separately and you lived with your spouse at any time during the year, do not completo Partilor Part. Instead, go to line 15 Parti Special Allowance for Rental Real Estate Activities With Active Participation Note: Enter all numbers in Partilas positive amounts. See Instructions for an example 5 Enter the smaller of the loss on line 1d or the loss on line 4 5 6 Enter $150,000. if married filing separately, so instructions 6 7 Enter modified adjusted gross income, but not less than zero. See Instructions 7 Noter if line 7 is greater than or equal to line 6, skip lines 8 and 9, onter-O-on tine 10. Otherwise, go to line 2 8 Subtract line 7 from line 6 8 9 Multiply line aby 50%60.50). Do not enter more than $25,000. If married in separately. See Instructions 9 10 Enter the smaller of line 5 or line 9 10 If line 2c is a los go to Part Otherwise, go to line 15 Part II Special Allowance for Commercial Revitalization Deductions From Rental Real Estate Activities Note: Enter all numbers in Part Ill as positive amount. See the example for Part in the instructions 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 the 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 in 11. or line 13 14 Part IV Total Losses Allowed 16 Add the income, tany, on lines 1a and 3a and enter the total 15 16 Total losses allowed from all passive activities for 2019. Add lines 10, 14 and 15. See Instructions to find out how to report the losses on your tax retum 16 For Paperwork Reduction Act Notice, se instructions Co No 06 For 85822019 DOLL Document Q Worksheet 1 -For Form 85B2, Lines 1o, 1b, and 1c (see Instructions Current your Name of activity (a) Not income b) Net loss line 1 Pine 1 Prior years Overall gain or loss (c) Unallowed loss dine 10) id) Gain (o) LOS Total Enter on Form 8582, inos 1a, 1b, and la Worksheet 2-For Form 8582, Lines 2a and 2b (see instruction) Name of activity a) Current year Prior year deductions dine 2a) unallowed deductions in 20) (c) Overall loss Total. Enter on Form 8582, lines 2a and 21 Worksheet 3-For Form 85B2, Lines 3a, 3b, and 3c(soo instructions Current year Name of activity (a) Net Income b) Not loss (line 32 Cine 36 Prior years Overall gain or loss (c) Unalowed lossine 3c) (dh Gain (e) Loss Total, Enter on Form 3582, Ines 3a, 3b, and 2c Worksheet 4-Use This Worksheet if an Amount is shown on Form 8682, Line 10 or 14. See instructions Form or schedule Name of activity and line number (d) Subtract (c) Special to be reported on (a) Loss (b) Ratio allowance column c from see instructions) column (al 1.00 Total Worksheet 5-Allocation of Unallowed Losses (see instructions) Form or schedule Name of activity and line number to be reported on fa Loss (See Instructions) (b) Ratio (c) Unallowed loss Total 1.00 Document 3 0 Page 3 For 2010 Worksheet 6-Allowed Losses (see instruction) Form or schedule and line number Name of activity to be reported on (see Instructions (a) LOSS (by nallowed loss (c) Allowed loss Total Worksheet 7 - Activities With Losses Reported on Two or More Forms or Schedules se instructions) Name of activity: (a) (b) (c) Ratio (d) Unallowed loss (e) Allowed loss Form or schedule and line number to be reported on (see Instructions): 1a Netloss plus prior year unallowed loss from form or schedule b Net Income from form or schedule c Subtract line 1b from line 1a. If zero or less enter- Form or schedule and line number to be reported on (see Instructions): 1a Net loss plus prior year unallowed loss from form or schedule b Net Income from formor schedule C Subtract line 1b from line 1a. If zero or less, enter-O- Form or schedule and line number to be reported on (see Instructions): 1a Netloss plus prior year unalowed Joss from form or schedule b Net Income from form of schedule Subtract line 1b from ineta. If zero or less, enter - - Total 1.00 Fonn 8582 2011