Form 8582 - Passive Activity Loss Limitations

ICR 202102-1545-024

OMB: 1545-1008

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Supporting Statement A
2021-04-01
IC Document Collections
IC ID
Document
Title
Status
39964 Modified
ICR Details
1545-1008 202102-1545-024
Received in OIRA 201710-1545-015
TREAS/IRS
Form 8582 - Passive Activity Loss Limitations
Extension without change of a currently approved collection   No
Regular 04/30/2021
  Requested Previously Approved
36 Months From Approved 04/30/2021
250,000 250,000
875,000 875,000
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.

US Code: 26 USC 469 Name of Law: Passive activity losses and credits limited
  
None

Not associated with rulemaking

  86 FR 10003 02/17/2021
86 FR 22784 04/30/2021
No

1
IC Title Form No. Form Name
Passive Activity Loss Limitations Form 8582 Passive Activity Loss Limitations

  Total Request 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 250,000 250,000 0 0 0 0
Annual Time Burden (Hours) 875,000 875,000 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$69,132
No
    Yes
    Yes
No
No
No
No
Annie Ronholm 651 361-1645

  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.
04/30/2021


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