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Kentucky Free Printable  for 2020 Kentucky Kentucky Passive Activity Loss Limitations

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Kentucky Passive Activity Loss Limitations
Form 8582-K

FORM 8582-K KENTUCKY PASSIVE ACTIVITY LOSS LIMITATIONS Commonwealth of Kentucky Department of Revenue   Enclose with Form 740, 740-NP or 741. 2019   See federal instructions and worksheets for Form 8582. Enter name(s) as shown on tax return. Social Security or Federal Identification Number PART I—2019 Passive Activity Loss (See instructions on reverse.) Rental Real Estate Activities With Active Participation (For the definition of active participation, see Active Participation in a Rental Real Estate Activity in the federal instructions.)   1 a Activities with net income (from worksheet 1, column (a))...................................... 1a 00 b Activities with net loss (from worksheet 1, column (b))............................................ 1b  ( 00) c Prior year unallowed losses (from worksheet 1, column (c)).................................... 1c  ( 00) d Combine lines 1(a) through 1(c)...................................................................................................................... 1d 00 Commercial Revitalization Deductions From Rental Real Estate Activities   2 a Commercial revitalization deductions from worksheet 2, column (a)...................... 2a  ( 00) b Prior year unallowed commercial revitalization deductions from worksheet 2, column (b)............................................................................................... 2b  ( 00) c Add lines 2(a) and 2(b)..................................................................................................................................... 2c  ( 00) All Other Passive Activities   3 a Activities with net income (from worksheet 3, column (a))...................................... 3a 00 b Activities with net loss (from worksheet 3, column (b))............................................ 3b  ( 00) c Prior year unallowed losses (from worksheet 3, column (c)).................................... 3c  ( 00) d Combine lines 3(a) through 3(c)...................................................................................................................... 3d 00   4 Combine lines 1(d), 2(c) and 3(d). If the result is net income or zero, all losses are allowed, including any prior year unallowed losses entered on line 1(c), 2(b) or 3(c). Do not complete Form 8582-K. Report the losses on the forms and schedules normally used.......................................................................................  4 00 If line 4 is a loss and: • line 1(d) is a loss, go to Part II. • line 2(c) is a loss (and line 1(d) is zero or more), skip Part II and go to Part III. • line 3(d) is a loss (and lines 1(d) and 2(c) are zero or more), skip Parts II and III and go to line 15. Caution: If your filing status is married filing separately and you lived with your spouse at any time during the year, do not complete Part II or Part III. Instead, go to line 15. PART II—Special Allowance for Rental Real Estate With Active Participation Note: See federal instructions for how to treat numbers as positive amounts in Part II.   5  6   7   8   9 10 Enter the smaller of the loss on line 1(d) or the loss on line 4..........................................................................  5 Enter $150,000; $75,000 if married filing separately or separate on a combined return.  6 00 Enter modified adjusted gross income, but not less than zero (see federal instructions). If line 7 is equal to or greater than line 6, skip lines 8 and 9, enter zero on line 10. Otherwise, go to line 8..................................................................  7 00 Subtract line 7 from line 6.................................................................................................  8 00 Multiply line 8 by 50% (.5). Do not enter more than $25,000; $12,500 if filing separately or separate on a combined return.........................................................................  9 Enter the smaller of line 5 or line 9. If line 2(c) is a loss, go to Part III. Otherwise, go to line 15.................... 10 00 00 00 PART III—Special Allowance for Commercial Revitalization Deductions From Rental Real Estate Activities Note: See federal instructions for how to treat numbers as positive amounts in Part III. 11 12 13 14 Enter $25,000 reduced by the amount, if any, on line 10. If married filing separately, see instructions...... 11 Enter the loss from line 4.................................................................................................................................... 12 Reduce line 12 by the amount on line 10........................................................................................................... 13 Enter the smallest of line 2(c) (treated as a positive amount), line 11 or line 13............................................ 14 00 00 00 00 PART IV—Total Losses Allowed 15 Add the income, if any, on lines 1(a) and 3(a) and enter the total................................................................... 15 16 Total losses allowed from all passive activities for 2019. Add lines 10, 14 and 15. Form 740 filers see reverse; other filers see federal instructions on how to report the losses on your tax return............... 16 190025 42A740-S18 (10-19) Page 1 of 2 00 00 FORM 8582-K (2019) Instructions for Form 8582-K PURPOSE OF FORM—Form 8582-K is used when the allowable Kentucky passive losses for the taxable year differ from allowable federal passive losses. The worksheet is used to calculate the additions or subtractions to federal adjusted gross income in determining Kentucky adjusted gross income. Form 8582-K must be completed using Kentucky income (losses) if: (1) federal Form 8582, Passive Activity Loss Limitations, is required and Kentucky passive income (losses) and federal passive income (losses) are different or (2) Kentucky prior year unallowed (suspended) losses and federal prior year unallowed (suspended) losses are different. If Form 8582-K is not required, include adjustments for any differences in Kentucky passive income/loss and federal passive income/loss on the appropriate lines of Schedule M. If Form 8582-K is required, do not include on Schedule M other adjustments to federal adjusted gross income for passive activities. Use the following steps to compute an addition or subtraction to be entered on Schedule M for passive activities. STEP 1* Complete federal worksheets 1 and 2 for federal Form 8582 using the federal instructions and Kentucky amounts for all entries. Page 2 of 2 STEP 2 Complete page 1 of Form 8582-K using the federal instructions for Form 8582 and Kentucky amounts for all entries. STEP 3 Complete federal worksheets for federal Form 8582 using the federal instructions and Kentucky amounts for all entries. STEP 4 Complete the Passive Activities Adjustment Worksheet below. *NOTE: If a separate/combined return is being filed for Kentucky, and the federal return is filed jointly, complete separate Kentucky Forms 8582-K, worksheets and schedules for each spouse. If an activity is jointly owned, 50 percent of the total income or loss should be allocated to each spouse with their separately owned income or losses. In all cases each item must be identified on the federal schedules as T—taxpayer, S—spouse or J—jointly to properly determine income on a separate basis. On lines B and D of the worksheet enter each spouse’s portion of the joint federal income. The federal passive loss limitations will still be computed on a joint basis. Do not recompute the joint federal Form 8582 on a separate basis to compare to the Kentucky Forms 8582-K. Passive Activities Adjustment Worksheet A Enter as a negative amount Kentucky allowable losses from line 16, Form 8582-K............ 00 B Enter as a positive amount federal allowable losses from federal Form 8582**................. 00 C Enter as a positive amount Kentucky passive income from line 15, Form 8582-K............... 00 D Enter as a negative amount federal passive income from federal Form 8582**................. 00 E Passive income or loss adjustment. Combine lines A, B, C and D........................................................................... 00 If the amount on line E is positive, enter as an Other Addition on Schedule M. If the amount on line E is negative, enter as an Other Subtraction on Schedule M. ** If federal Form 8582 is not required, enter on line B any passive losses included in federal adjusted gross income. Also, enter on  line D any passive income included in federal adjusted gross income. 42A740-S18 (10-19) Page 2 of 2
Extracted from PDF file 2019-kentucky-form-8582-k.pdf, last modified November 2019

More about the Kentucky Form 8582-K Individual Income Tax TY 2019

We last updated the Kentucky Passive Activity Loss Limitations in March 2020, so this is the latest version of Form 8582-K, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 8582-K directly from TaxFormFinder. You can print other Kentucky tax forms here.

Other Kentucky Individual Income Tax Forms:

TaxFormFinder has an additional 129 Kentucky income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form 740 Kentucky Individual Income Tax Return
Form 740ES Estimated Income Tax Return
Income Tax Instructions Form 740 Instructions
Schedule KW-2 Kentucky Income Tax Withheld
Schedule M (740) Kentucky Federal Adjusted Gross Income Modifications

Download all KY tax forms View all 130 Kentucky Income Tax Forms


Form Sources:

Kentucky usually releases forms for the current tax year between January and April. We last updated Kentucky Form 8582-K from the Department of Revenue in March 2020.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Kentucky Form 8582-K

We have a total of seven past-year versions of Form 8582-K in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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