OMB No. 1545-1034

Form 8582-CR Passive Activity Credit Limitations

 See separate instructions.

Department of the Treasury

Internal Revenue Service

Attachment

 Attach to Form 1040 or 1041. Sequence No. 89

Name(s) shown on return Identifying number

2005 Passive Activity Credits

Caution: If you have credits from a publicly traded partnership, see Publicly Traded Partnerships (PTPs) on page 15

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.)

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.)

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.)

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.)

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 page 9) 6

7 Subtract line 6 from line 5. If line 6 is more than or equal to line 5, enter -0- and see page 10 7

Special Allowance for Rental Real Estate Activities With Active Participation

Note: Complete this part only 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 page 10 9

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

page 10). If line 10 is equal to or more 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 page 11

12

12

Enter the amount, if any, from line 10 of

Form 8582

13a

14 Subtract line 13c from line 12 14

15 Enter the tax attributable to the amount on line 14 (see page 11) 15

16 Enter the smaller of line 8 or line 15 16

For Paperwork Reduction Act Notice, see page 16 of the instructions. Form 8582-CR (2005)

Part I

Part II

Cat. No. 64641R

Note: If your filing status is married filing separately and you lived with your spouse at any time

during the year, do not complete Part II, III, or IV. Instead, go to line 37.

Enter the amount, if any, from line 14 of

Form 8582

b

c Add lines 13a and 13b 13c

13a

13b

2005
Form 8582-CR (2005) Page 2

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 page 12. (See page 12

to find out if you can skip lines 21 through 26.) 21

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

instructions for line 10 on page 10.) If line 22 is equal to or more 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 page 12

24

24

25a

Enter the amount, if any, from line 10 of

Form 8582

25a

26 Subtract line 25c from line 24 26

27 Enter the tax attributable to the amount on line 26 (see page 12) 27

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

25c

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 this part only 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 page 12) 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. See page 12 to find out how to

report the allowed credit on your tax return and how to allocate allowed and unallowed credits if

you have more than one credit or credits from more than one activity. If you have any credits from

a publicly traded partnership, see Publicly Traded Partnerships (PTPs) on page 15 37

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 your basis in credit property used in that activity by the unallowed credit that reduced your basis in the

property, check this box. See page 16 

39 Name of passive activity disposed of 

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

41 Amount of unallowed credit that reduced your basis in the property  $

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 this part only if you have an amount on line 2c. Otherwise, go to Part IV.

Form 8582-CR (2005)

25b

Enter the amount, if any, from line 14 of

Form 8582

b

c Add lines 25a and 25b

Subtract line 28 from line 27 29