This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on December 1, 2019. Check the official IRS-issued instructions before completing and submitting the form.
Q: What is IRS Form 8582-CR?A: IRS Form 8582-CR is a tax form used to determine the amount of passive activity credit limitation that can be claimed for a specific tax year.
Q: What is a passive activity?A: A passive activity is a business or rental activity in which the taxpayer does not materially participate.
Q: What are passive activity credit limitations?A: Passive activity credit limitations are rules that limit the amount of credits that can be claimed for passive activities.
Q: Who needs to file IRS Form 8582-CR?A: Taxpayers who have passive activity credits and are subject to the passive activity credit limitations need to file IRS Form 8582-CR.
Q: Can I claim passive activity credits if I am not subject to the limitations?A: No, if you are not subject to the passive activity credit limitations, you cannot claim the credits.
Form Details:
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