8 5 8 2 Passive Activity Loss Limitations

OMB No. 1545-1008

Form th + l an0Q7
> See separate instructions. 4 9 87

Department of the Treasury > Attach to Forms 1040, 1041, or 1120 (Personal Attachment

Internal Revenue Service (0) service corporation and closely held C corporations). Sequence No. 88

Name(s) as shown on return

Social security or employer identification number

Computation of 1987 Passive Activity Loss

Caution: See the worksheets on page 4 of the instructions before completing Part |.

Rental Real Estate Activities With Active Participation (See the definition of active participation
under Rental Activities on page 2 of the instructions.)

la
1b
lc

ld
le
lf
lg

Activities acquired before 10-23-86:

Activities with net income . Ce ja
Activities with net loss Lo oe 1b
Combine lines laandlb . ee lc
Activities acquired after 10-22-86:

Activities withnetincome. 2 2 2 2. 2 ee ew ee Ld
Activities withnetloss . . . . rr 3
Combine lines ldandle . oe fone . if
Net income or (loss). Combine lines 1c and lf.

1g

i

-
~<

All Other Passive Activities (See Lines 2a through 2g on page 4 of the instructions.)

Activities acquired before 10-23-86:

FF.

2a Activities with netincome . . woe : oo... Lda
2b Activitieswithnetioss . 0... PB Yff
2c Combinelines2aand2b . . . . . foe . . L2e
Activities acquired after 10-22-86: fy,
2d Activitieswithnetincome. . . . . 2...) .. . . . [2d Y)
2e Activities with net loss a . : an . | 2e
2f Combinelines2dand2e . . . 2... we. Le Ms HM 7/;
2g_Net income or (loss). Combine lines 2c and 2f. oe . ee 2g
3 Combine lines 1g and 2g. If the result is net income, see the instructions for line 3. If this line and
line 1g are both losses, go to line 4. Otherwise, enter -O- on line 9 and go to line 10. [3
Computation of the Special Allowance for Rental Real Estate With Active Participation

Note: Before completing Parts II and Ill, see page 4 of the instructions for how to treat numbers as if they were all positive.

7
8

9

10

lla
11b

12
13
14
15
16
17
18
19

Enter the smaller of the loss on line 1g or the loss on line 3

4

Enter $150,000 ($75,000 if married filing separately and you lived
apart for the entire year). Le 5

Enter modified adjusted gross income, but not less than -O- (see
instructions). If line 6 is equal to or greater than line 5, skip lines 7 and |
8, enter -0- on line 9, and then go to line 10. Otherwise, go to line 7 6

Subtract line6fromline5. 2 2... coe ee LD
Multiply line 7 by 50% (.5). Do not enter more than $25,000 ($12,500 if marned filing separately

Uy

and you lived apart for the entire year) 8
Enter the smaller of line 4 or line 8 ere 9
J Part 111 | Computation of Passive Activity Loss Allowed
Combine lines 1c and 2c and enter the result. If the result 1s -- or net income, skip to line 16. (See
instructions.) . . rn rn Loe 10 1
If line 9 is -O-, enter -O- on line 11 and go to line 12.
If line 1c shows income, has no entry, or shows -O-, enter -O- on line 11. Otherwise, enter the smaller / MM MMM Mi
of line 1c or line 8. son . : ee oo 11
Subtract line 11 from line 10. If line 11 is equal to or greater than line 10, enter -O- 12
Subtract line 9 from line 3 . 13
Enter the smaller of line 12 or line 13 : 14
Multiply line 14 by 65% (.65) and enter the result 15 _
Enter the amount from line 9 Le 16
Passive Activity Loss Allowed for 1987. Add lines 15 and 16 17 -
Add the income, if any, on lines 1a, 1d, 2a, and 2d and enter the result . . (38
Total losses allowed from all passive activities for 1987. Add lines 17 and 18. See page 5 of the
instructions to see how to report the losses on your tax return _ 119

For Paperwork Reduction Act Notice, see separate instructions.

U.S. Government Printing Office 1987-183-419 23-0916750

Form 8582 (1987)