Passive Activity Credit Limitations OMB No. 1545-1034 Form 8582-CR

© See separate instructions.

Department of the Treasury

Internal Revenue Service

Attachment

© Attach to Form 1040 or 1041. Sequence No. 88a

Name(s) shown on return Identifying number

1994 Passive Activity Credits

Caution: If you have credits from a publicly traded partnership, see Publicly Traded Partnerships (PTPs) on page 14

of the instructions.

Credits From Rental Real Estate Activities With Active Participation (Other Than Rehabilitation

Credits and Low-Income Housing Credits) (See Lines 1a through 1c on page 9 of the instructions.)

1a Credits from Worksheet 1, column (a) 1a

b Prior year unallowed credits from Worksheet 1, column (b) 1b

c Add lines 1a and 1b 1c

Rehabilitation Credits from Rental Real Estate Activities and Low-Income Housing Credits for

Property Placed in Service Before 1990 (or From Pass-Through Interests Acquired Before 1990)

(See Lines 2a through 2c on page 9 of the instructions.)

2a Credits from Worksheet 2, column (a) 2a

b Prior year unallowed credits from Worksheet 2, column (b) 2b

c Add lines 2a and 2b 2c

Low-Income Housing Credits for Property Placed in Service After 1989 (See Lines 3a through

3c on page 9 of the instructions.)

3a Credits from Worksheet 3, column (a) 3a

b Prior year unallowed credits from Worksheet 3, column (b) 3b

c Add lines 3a and 3b 3c

All Other Passive Activity Credits (See Lines 4a through 4c on page 9 of the instructions.)

4a Credits from Worksheet 4, column (a) 4a

b Prior year unallowed credits from Worksheet 4, column (b) 4b

c Add lines 4a and 4b 4c

5 Add lines 1c, 2c, 3c, and 4c 5

6 Enter the tax attributable to net passive income (see instructions) 6

7 Subtract line 6 from line 5. If line 6 is more than or equal to line 5, enter -0- and see the instructions 7

Special Allowance for Rental Real Estate Activities With Active Participation

Note: Complete Part II if you have an amount on line 1c. Otherwise, go to Part IIl.

8 Enter the smaller of line 1c or line 7 8

9 Enter $150,000. If married filing separately, see instructions 9

Enter modified adjusted gross income, but not less than zero (see

instructions). If line 10 is equal to or greater than line 9, skip lines 11

through 15 and enter -0- on line 16

10

10

11 Subtract line 10 from line 9 11

Multiply line 11 by 50% (.50). Do not enter more than $25,000. If

married filing separately, see instructions

12

12

13 Enter the amount, if any, from line 9 of Form 8582 13

14 Subtract line 13 from line 12 14

15 Enter the tax attributable to the amount on line 14 (see instructions) 15

16 Enter the smaller of line 8 or line 15 16

For Paperwork Reduction Act Notice, see separate instructions. Form 8582-CR (1994)

Part I

Part II

Cat. No. 64641R
Form 8582-CR (1994) Page 2

Special Allowance for Rehabilitation Credits From Rental Real Estate Activities and Low-Income Housing

Credits for Property Placed in Service Before 1990 (or From Pass-Through Interests Acquired Before 1990)

Note: Complete Part III if you have an amount on line 2c. Otherwise, go to Part IV.

17 Enter the amount from line 7 17

18 Enter the amount from line 16 18

19

19 Subtract line 18 from line 17. If zero, enter -0- here and on lines 30 and 36, and then go to

Part V

20 Enter the smaller of line 2c or line 19 20

21 Enter $250,000. If married filing separately, see instructions. (See

instructions to see if you can skip lines 21 through 26.) 21

Enter modified adjusted gross income, but not less than zero. (See

instructions for Part II, line 10.) If line 22 is equal to or greater than line

21, skip lines 23 through 29, and enter -0- on line 30

22

22

23 Subtract line 22 from line 21 23

Multiply line 23 by 50% (.50). Do not enter more than $25,000. If married

filing separately, see instructions

24

24

25 Enter the amount, if any, from line 9 of Form 8582 25

26 Subtract line 25 from line 24 26

27 Enter the tax attributable to the amount on line 26 (see instructions) 27

28 Enter the amount, if any, from line 18 28

29 Subtract line 28 from line 27 29

30 Enter the smaller of line 20 or line 29 30

Special Allowance for Low-Income Housing Credits for Property Placed in Service After 1989

Note: Complete Part IV if you have an amount on line 3c. Otherwise, go to Part V.

31 If you completed Part III, enter the amount from line 19. Otherwise, subtract line 16 from line 7 31

32 Enter the amount from line 30 32

33 Subtract line 32 from line 31. If zero, enter -0- here and on line 36 33

34 Enter the smaller of line 3c or line 33 34

35 Tax attributable to the remaining special allowance (see instructions) 35

36 Enter the smaller of line 34 or line 35 36

Passive Activity Credit Allowed

37 Passive Activity Credit Allowed. Add lines 6, 16, 30, and 36. If you have any credits from a

publicly traded partnership, see Publicly Traded Partnerships (PTPs) on page 14 of the

instructions 37

Note: Use Worksheets 5 through 9, whichever apply, to allocate the allowed and unallowed credits

if you have credits from more than one passive activity. Also use the worksheets if you must

allocate the credits because they are reported on different forms.

Part V

Part IV

Part III

Printed on recycled paper

Part VI Election to Increase Basis of Credit Property

38 If you disposed of your entire interest in a passive activity or former passive activity in a fully taxable transaction, and you

elect to increase the basis of the credit property used in that activity by the unallowed credit that reduced the property’s

basis, check here ©

39 Name of activity disposed of ©

40 Description of the credit property for which the election is being made ©

41 Amount of unallowed credit that reduced the property’s basis © $