IRS Form 8582, Passive Activity Loss Limitations is the document used by noncorporate taxpayers. Its main purpose is to help you to calculate the amount of any passive activity loss (PAL). You can use this form to report the application of the unallowed PALs for the previous tax year.
The issuing agency of the document is the Internal Revenue Service (IRS). The form is revised annually. Download the latest fillable IRS Form 8582 using the link provided below. To facilitate filing, the IRS also provides official Instructions for Form 8582 containing detailed explanations and useful examples.
The form is related to Form 8582-CR, Passive Activity Credit Limitations. This document is filled out by trusts, estates, and individuals in order to calculate the amount of a passive activity credit for the current tax year and unallowed credits any prior year. This form also serves to figure the amount of credit allowed for the current year, as well as to elect the increase of the credit property basis when a taxpayer disposes of the interest in an activity.