Passive Activity Credit Limitations

ICR 201905-1545-005

OMB: 1545-1034

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2016-06-10
Supporting Statement A
2019-07-25
IC Document Collections
IC ID
Document
Title
Status
40005 Modified
ICR Details
1545-1034 201905-1545-005
Received in OIRA 201606-1545-003
TREAS/IRS
Passive Activity Credit Limitations
Extension without change of a currently approved collection   No
Regular 08/28/2019
  Requested Previously Approved
36 Months From Approved 01/31/2021
300,000 300,000
2,370,600 2,370,600
0 0

Under section 469, credits from passive activities, to the extent they do not exceed the tax attributable to net passive income, are not allowed. Form 8582-CR is used to figure the passive activity credit allowed and the amount of credit 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

  84 FR 6197 02/26/2019
84 FR 45212 08/28/2019
No

1
IC Title Form No. Form Name
Passive Activity Credit Limitations 8582-CR Passive Activity Credit 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 300,000 300,000 0 0 0 0
Annual Time Burden (Hours) 2,370,600 2,370,600 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$21,506
No
    Yes
    Yes
No
No
No
No
Philip Beram 202 317-5999

  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.
08/28/2019


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