Form 8582 UT 2024-2025

Form 8582 UT: What You Should Know

IRS Form 8582 Instructions, Form 8582 (2021) Passive Activity Limitations (Page 12) Question. Will Ultrapar CS report rental real estate losses, and if so, by what date? Answer. If the passive activity loss for the current tax year has been reduced by recapture under section 857, report the recaptured amount on line 20. For prior years, use Form 8582 to figure the loss on line 6.  If a gain on sale of the rental real estate is in excess of the least of: (A) 10 percent of the value of the rental real estate sold, or (B) the amount of the tax loss, report the excess gain on line 15. If a loss is deductible under section 857, report the deduction on line 30. Question. What is in the “loss” column on line 10? Answer. This column is filled in by the taxpayer for most years. However, when information is not available in an itemized list, the loss is generally filled in by line 10a, line 10b, or line 10c. Question. When a taxpayer has a non-cash loss from an individual retirement plan or similar plan, and the loss is more than zero, is a “zero-sum” or “integrity” exception allowed to reduce the amount of loss that must be reported on line 10a, line 10b, or line 10c? Answer. Yes. The “zero-sum” exception (IRC 82) may be applied to reduce this amount. See the discussion for the section 857 recapture. Question. If a rental real estate loss is taken into account on line 10 and the taxpayer has a “zero-sum” or “integrity” exception applied to this, what is the appropriate form to complete or include with the return? Answer. The Form 8802 or Form 8881 (and all applicable extensions) may be used for all losses in excess of the limits specified in IRC 857 for 2025 or 2016. The Form 8582 must be used for losses in excess of the allowable losses. However, due to a number of unique and unpredictable situations, it is impossible to provide one specific form for every situation.

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