Download:
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pdfVersion A, Cycle 3
Form
461
Department of the Treasury
Internal Revenue Service
Limitation on Business Losses
OMB No. 1545-2283
2022
Attach to your tax return.
Attachment
Sequence No. 64
Go to www.irs.gov/Form461 for instructions and the latest information.
Name(s) shown on return
Part I
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INTERNAL USE ONLY
DRAFT AS OF
July 13, 2022
Adjustment for Amounts Not Attributable to Trade or Business
See instructions if you are filing a tax return other than Form 1040 or 1040-SR.
Enter any income or gain reported on lines 1 through 8 that is not attributable to a trade or business .
Enter any losses or deductions reported on lines 1 through 8 that are not attributable to a trade or
business. See instructions . . . . . . . . . . . . . . . . . . . . . . . . .
Subtract line 11 from line 10 .
Part III
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Total Income/Loss Items
See instructions if you are filing a tax return other than Form 1040 or 1040-SR.
Reserved for future use . . . . . . . . . . . . . . . . . . . . . . .
Enter amount from Schedule 1 (Form 1040), line 3
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Enter amount from Form 1040 or 1040-SR, line 7 . . . . . . . . . . . . . . .
Enter amount from Schedule 1 (Form 1040), line 4
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Enter amount from Schedule 1 (Form 1040), line 5
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Enter amount from Schedule 1 (Form 1040), line 6
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Reserved for future use . . . . . . . . . . . . . . . . . . . . . . .
Enter other income, gain, or losses from a trade or business not reported on lines 1 through 7
Combine lines 1 through 8 . . . . . . . . . . . . . . . . . . . . . .
Part II
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Identifying number
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Limitation on Losses
If line 12 is a negative number, enter it here as a positive number. If line 12 is a positive number, enter it
here as a negative number . . . . . . . . . . . . . . . . . . . . . . . . .
Add lines 9 and 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter $270,000 (or $540,000 if married filing jointly) . . . . . . . . . . . . . . . . .
Add lines 14 and 15. If less than zero, enter the amount from line 16 as a positive number on Schedule
1 (Form 1040), line 8p. See instructions if you are filing a tax return other than a Form 1040 or 1040-SR.
If zero or greater, do not attach this form to your tax return . . . . . . . . . . . . . . .
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 16654I
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Form 461 (2022)
File Type | application/pdf |
File Title | 2022 Form 461 |
Subject | Limitation on Business Losses |
Author | SE:W:CAR:MP |
File Modified | 2022-07-13 |
File Created | 2022-07-13 |