com 8 81 0 Corporate Passive Activity Loss and Credit Limitations

> See separate instructions.

OMB No. 1545-1091

1990

Department of the Treasury » Attach to your tax return (personal service corporations
Internal Revenue Service and closely held corporations only).
Name Employer identification number

Computation of 1990 Passive Activity Loss
Caution: See the instructions and Worksheets 1 and 2 on page 6 before completing Part I.

Activities acquired before 10-23-86 (Pre-enactment):

la Income (from Worksheet 2, Part1,column(a)) . . . . an ja
b Deductions and losses (from Worksheet 2, Part 1, column ©). to 1b
¢ Combine lines la and 1b Le
Activities acquired after 10-22-86 (Post- enactment):
d Income (from Worksheet 2, Part2,column(a)) . . . . . . . id
e Deductions and losses (from Worksheet 2, Part 2,column(b)). . . Lie a
f Combine lines 1d and le {Jf | —
g Prior year unallowed losses (from Worksheet 2, Parts 1 and 2, column ©). | 1g
2 Combine lines 1c, 1f, and 1g. If the result is net income or -0-, see instructions for lines 2 and 4 2
3 Closely held corporations enter net active income and see instructions. Personal service corporations
enter -0- on this line . . 3
4 Combine lines 2 and 3. If the result i is ‘net income or - 0, see instructions: for lines 2 and 4. Otherwise,
gotoline5 . a
5 Combine lines 1c and 3. If the result is net income or -O-, enter -O-, (If line 1c is net income or -0-,
enter -O- on this line.) 5
6 Enter asa positive amount, the smaller of line 4 or ‘line 5 6
7 Multiply line 6 by 10% (.1) and enter the result vd
8 Unallowed passive activity deductions and losses. Subtract line 7 from line 4 8
9 Add the income, if any, on lines la, 1d, and 3 and enter the result . 9
10 Total deductions and losses allowed. Add lines 7 and 9. See the instructions for how to report the
ais on the corporation's tax return eo 10
ij Computation of 1990 Passive Activity Credits
Caution: See the instructions and complete Worksheet 5 on page 9 before completing Part II.
11a Credits from pre-enactment activities (from Worksheet 5, column (a)) , [11a
b Credits from post-enactment activities (from Worksheet 5, column (b)) . [11b
© Prior year unallowed credits (from Worksheet 5, column(c)) . . . .{Lle
12 Add lines 11a, 11b, and 11c 12
13 Enter tax attributable to net active income and net passive income. Seeinstructions. . . . . 13.
14 Passive activity credit. Subtract line 13 from line 12. If line 13 is more than or equal to line 12, enter
-0- and see instructions. If line 12 is more than line 13 and line 11a shows an amount, go to line 15.
Otherwise, enter -0- on line 19 and go to line 20 14
15 Enter amount from line 1la 15
16 Enter tax attributable to net active income and pre-enactment net passive income. See instructions . [16
17 Subtract line 16 from line 15. If line 16 is more than or equal to line 15, enter -O- here and on line 19
andgotoline20 . 2 1 1 ww ee 17
18 Enter the smaller of line 14 or line 17, 18
19 Multiply line 18 by 10% (.1) and enter the result . 19
20 Unallowed passive activity credit. Subtract line 19 from line 14 . 20
21 Allowed passive activity credit. Subtract line 20 from line 12. See instructions 21

For Paperwork Reduction Act Notice, see separate instructions.

Form 8810 (1990)