Form 8582-Passive Activity Loss Limitations

1) The document is an IRS Form 8582 for reporting passive activity losses. It contains worksheets to calculate losses from rental real estate activities, other passive activities, and special allowances. 2) Part I of the form calculates net income or loss from different types of passive activities. Part II provides a special allowance for rental real estate losses. Part III does the same for commercial revitalization deductions. 3) Part IV totals all allowed losses to carry over to the taxpayer's individual tax return. The worksheets provide details on passive income and losses from specific activities.