Partner'S Instructions For Schedule K-1 (Form 1065-B) - Partner'S Share Of Income (Loss) From An Electing Large Partnership (For Partner'S Use Only) - 2001 Page 7
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10nonconventional source fuel credit is a
income (loss) on Schedule E (Form
a real estate professional and materially
passive activity credit. If the credit is from
1040), Part II, column (i) or (k).
participated in the rental real estate
a passive activity, complete Form
activity, the credit is a passive activity
4. If you have income from a passive
8582-CR (or Form 8810 for corporations)
credit, and you must also file Form 3800.
activity in box 9, Code B1, enter the
to figure how much of the credit is
income on Schedule E, Part II, column
Code B7 — General partner’s
allowable. Enter the allowable amount on
(h). However, if the publicly traded
alternative minimum tax adjustment
line 51 of Form 1040 or line 6c of
partnership box is checked, report the
from rental real estate activities. An
Schedule J, Form 1120.
income following the rules for Publicly
AMT adjustment must be reported on line
traded partnerships starting on page 4.
Code A6 — General partner’s
14f of Form 6251. However, if the AMT
alternative minimum tax adjustment
adjustment is from a passive activity, it
Code B2 — General partner’s net
from trade or business activities. An
must be taken into account on line 11 with
capital gain (loss) from rental real
AMT adjustment must be reported on line
other passive activities instead of being
estate activities. The net capital gain
14f of Form 6251. However, if the AMT
reported on line 14f.
(loss) from a rental real estate activity is a
adjustment is from a passive activity, it
passive activity amount unless you were
Code C1 — General partner’s taxable
must be taken into account on line 11 with
a real estate professional (defined on
income (loss) from other rental
adjustments and preferences from other
page 3) and you materially participated in
activities. Income (loss) reported in box
passive activities instead of being
the activity. If the amount is either (a) a
9, Code C1, is a passive activity amount
reported on line 14f.
loss that is not from a passive activity or
for all general partners. Report a loss
Code B1 — General partner’s taxable
(b) a gain, report it on Schedule D (Form
following the Instructions for Form 8582.
income (loss) from rental real estate
1040), line 12, column (f). If the amount is
Report income on Schedule E (Form
activities. Generally, the income (loss)
a loss from a passive activity, report it
1040), Part II, column (h). However, if the
reported in box 9, Code B1, is a passive
following the Instructions for Form 8582 to
box for publicly traded partnerships is
activity amount for all general partners.
figure how much of the loss can be
checked, report the income (loss)
However, the income (loss) in box 9 is not
reported on Schedule D, line 12, column
following the rules for Publicly traded
from a passive activity if you were a real
(f). However, if the publicly traded
partnerships starting on page 4.
estate professional (defined on page 3)
partnership box is checked, report the
and you materially participated in the
Code C2 — General partner’s net
loss following the rules for Publicly
activity.
capital gain (loss) from other rental
traded partnerships starting on page 4.
activities. The net capital gain (loss)
Use the following instructions to
Code B3 — General partner’s 28% rate
from other rental activities is a passive
determine where to enter the Code B1
gain (loss) from rental real estate
activity amount for all general partners.
amount:
activities. The 28% rate gain (loss) from
Report the gain on Schedule D (Form
1. If you have a loss from a passive
a rental real estate activity is a passive
1040), line 12, column (f). Report a loss
activity in box 9, Code B1, and you meet
activity amount unless you were a real
following the Instructions for Form 8582 to
all of the following conditions, enter the
estate professional (defined on page 3)
figure how much of the loss can be
loss on Schedule E (Form 1040), Part II,
and you materially participated in the
reported on Schedule D, line 12, column
column (g):
activity. If the amount is either (a) a loss
(f). However, if the publicly traded
a. You actively participated in the
that is not from a passive activity or (b) a
partnership box is checked, report the
partnership rental real estate activities.
gain, report it on Schedule D (Form
loss following the rules for Publicly
See Active participation in a rental real
1040), line 12, column (g). If the amount
traded partnerships starting on page 4.
estate activity on page 4.
is a loss from a passive activity, report it
Code C3 — General partner’s 28% rate
b. Rental real estate activities with
following the Instructions for Form 8582 to
gain (loss) from other rental activities.
active participation were your only
figure how much of the loss can be
The 28% rate gain (loss) from other rental
passive activities.
reported on Schedule D, line 12, column
activities is a passive activity amount for
c. You have no prior year unallowed
(g). However, if the publicly traded
all general partners. Report a gain on
losses from these activities.
partnership box is checked, report the
Schedule D (Form 1040), line 12, column
d. Your total loss from the rental real
loss following the rules for Publicly
(g). Report a loss following the
estate activities was not more than
traded partnerships starting on page 4.
Instructions for Form 8582 to figure how
$25,000 (not more than $12,500 if
Code B4 — General partner’s general
much of the loss can be reported on
married filing separately and you lived
credits from rental real estate
Schedule D, line 12, column (g).
apart from your spouse all year).
activities. Report the general credits on
However, if the publicly traded
e. If you are a married person filing
line 1p of Form 3800. Unless you were a
partnership box is checked, report the
separately, you lived apart from your
real estate professional and materially
loss following the rules for Publicly
spouse all year.
participated in the rental real estate
traded partnerships starting on page 4.
f. You have no current or prior year
activity, you must also include the general
unallowed credits from a passive activity.
Code C4 — General partner’s general
credits on line 3 of Form 3800.
g. Your modified adjusted gross
credits from other rental activities.
income was not more than $100,000 (not
Code B5 — General partner’s
Report the general credits on line 1p of
more than $50,000 if married filing
low-income housing credit (for
Form 3800. Because general credits from
separately and you lived apart from your
property placed in service after 1989)
other rental activities are passive activity
spouse all year).
from rental real estate activities.
credits for all general partners, you must
2. If you have a loss from a passive
Report the low-income housing credit for
also include the general credits on line 3
activity in box 9 and you do not meet all
property placed in service after 1989 on
of Form 3800.
the conditions in 1 above, report the loss
line 5 of Form 8586. Unless you were a
Code C5 — General partner’s
following the Instructions for Form 8582 to
real estate professional and materially
alternative minimum tax adjustment
figure how much of the loss you can
participated in the rental real estate
from other rental activities. An AMT
report on Schedule E (Form 1040), Part
activity, the low-income housing credit is
adjustment must be reported on line 14f
II, column (g). However, if the publicly
a passive activity credit.
of Form 6251. However, if the AMT
traded partnership box is checked, report
Code B6 — General partner’s
adjustment is from a passive activity, it
the loss following the rules for Publicly
rehabilitation credit from rental real
must be taken into account on line 11 with
traded partnerships starting on page 4.
estate activities. Report the
adjustments and preferences from other
3. If you were a real estate
rehabilitation credit on line 1e of Form
passive activities instead of being
professional and you materially
3468, Investment Credit. Unless you were
reported on line 14f.
participated in the activity, report box 9
-7-
ADVERTISEMENT
0 votes
Related Articles
Related forms
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2016
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2009
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2007
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2011
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2004
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2003
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) Draft - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2011
Financial
Partner's Instructions For Schedule K-1 (form 1065-b) - Partner's Share Of Income (loss) From An Electing Large Partnership (for Partner's Use Only) - 2002
Financial
Related Categories
Parent category: Financial