Pub. 925, Passive Activity and At-Risk Rules |
2006 Tax Year |
This is archived information that pertains only to the 2006 Tax Year. If you are looking for information for the current tax year, go to the Tax Prep Help Area.
Schedule E (Form 1040) Page 2. Summary: This is an example of Schedule E (Form 1040), page 2, as pertains to the text. The completed line items are:
“27. Are you reporting any loss not allowed in a prior year due to the at-risk or basis limitations, a prior year unallowed
loss from a passive
activity (if that loss was not reported on Form 8582), or unreimbursed partnership expenses? If you answered yes, see page
E-6 before completing this
section.”
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Under
“Part II: Income or Loss From Partnerships and S Corporations”:
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“29a. Totals: (g) Passive income from Schedule K-1” field contains 4,000
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“29b. Totals (f) Passive loss allowed (attach Form 8582 if required)” field contains negative 6,393
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“30. Add columns (g) and (j) of line 29a” field contains 4,000
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“31. Add columns (f), (h), and (i) of line 29b” field contains negative 15,393
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“32. Total partnership and S corporation income or (loss). Combine lines 30and 31. Enter the result here and include in the
total on line 41
below” field contains negative 11,393
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Under
“Part V: Summary”:
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“41. Total income or (loss). Combine lines 26, 32, 37, 39, and 40. Enter the result here and on Form 1040, line 17” field contains
negative 21,094
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