Passive Activity Loss Limitations

ICR 200005-1545-030

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
17665 Migrated
ICR Details
1545-1008 200005-1545-030
Historical Active 199706-1545-010
TREAS/IRS
Passive Activity Loss Limitations
Revision of a currently approved collection   No
Regular
Approved without change 07/24/2000
Retrieve Notice of Action (NOA) 05/26/2000
The agency is not required to display the expiration date.
  Inventory as of this Action Requested Previously Approved
10/31/2002 10/31/2002 07/31/2000
3,622,282 0 4,500,000
17,254,834 0 21,660,000
0 0 0

Under Internal Revenue Code section 469, losses from passive activities, to the extent that 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.

None
None


No

1
IC Title Form No. Form Name
Passive Activity Loss Limitations FORM-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 3,622,282 4,500,000 0 -50,521 -827,197 0
Annual Time Burden (Hours) 17,254,834 21,660,000 0 -253,560 -4,151,606 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.
05/26/2000


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