PASSIVE ACTIVITY LOSS LIMITATIONS

ICR 199512-1545-010

OMB: 1545-1008

Federal Form Document

Forms and Documents
Document
Name
Status
No forms / supporting documents in this ICR. Check IC Document Collections.
IC Document Collections
IC ID
Document
Title
Status
39963 Migrated
ICR Details
1545-1008 199512-1545-010
Historical Active 199407-1545-013
TREAS/IRS
PASSIVE ACTIVITY LOSS LIMITATIONS
No material or nonsubstantive change to a currently approved collection   No
Regular
Approved without change 12/05/1995
Retrieve Notice of Action (NOA) 12/05/1995
  Inventory as of this Action Requested Previously Approved
08/31/1997 08/31/1997 08/31/1997
4,500,000 0 4,500,000
21,615,000 0 21,705,000
0 0 0

UNDER SECTION 469, LOSSES FROM PASSIVE ACTIVITIES, TO THE EXTENT THEY EXCEED INCOME FROM PASSIVE ACTIVITIES, CANNOT BE DEDUCTED AGAINST NONPASSIVE INCOME. FORM 8582 IS USED TO FIGURE THE PASSIVE ACTIVITY LOSS ALLOWED AND THE LOSS TO BE REPORTED ON THE TAX RETURN. THE WORKSHEETS 1 AND 2 IN THE INSTRUCTIONS ARE USED TO FIGURE THE AMOUNT T BE ENTERED ON LINES 1 AND 2 OF FORM 8582, AND WORKSHEETS 3 THROUGH 6 A

None
None


No

1
IC Title Form No. Form Name
PASSIVE ACTIVITY LOSS LIMITATIONS 8582

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 4,500,000 4,500,000 0 0 0 0
Annual Time Burden (Hours) 21,615,000 21,705,000 0 -90,000 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes

$0
No
No
Uncollected
Uncollected
Uncollected
Uncollected

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
12/05/1995


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