Tax Audit - Passive Activity Losses Edition Ebook

TABLE OF CONTENTS

CHAPTER 1 AN OVERVIEW OF THE LAW AND FORM 8582

• Two Types of Passive Activities 1-2
• Participation Rules 1-5
• Material Participation 1-6
• Issue Identification 1-9
• Form 8582 1-7
• Exceptions to the Loss Disallowance Rule 1-4
• Completion of Form and Worksheets 1-7
• Audit Issues 1-9
• Activity Rules 1-3
• Active Participation 1-6

• Vacation Rental Issues 2-10
• Summary 2-20
• Real Estate Professionals 2-15
• Real Estate Issues 2-5
• Limited Partner Issues 2-9
• Issue Identification 2-19
• Income From Self-Rented Property 2-18
• Exceptions to Rental Activities 2-2
• Equipment Rental Issues 2-3
• Automatic Adjustments 2-10
• $25,000 Offset Issues 2-8

• Treatment of Former Passive Activities 3-12
• Surviving Spouse of Farmer 3-12
• Substantially All Participation 3-4
• Significant Participation Activity (SPA) 3-5
• Rules of Time 3-1
• Retired or Disabled Farmer and
• Quantitative Time Tests 3-2
• Qualifying Participation 3-13
• Proof of Participation 3-12
• Participation Issues 3-15
• Nonqualifying Time 3-14
• More Than 500 Hours 3-3
• Limited Partners 3-10
• Issue Identification 3-15
• General Rule 3-13
• General Rule 3-1
• Facts and Circumstances 3-10
• Computation of Overall Gain or Loss on SPAs 3-6
• Any 5 of 10 Past years 3-9
• Any 3 Years in Personal Service Activity 3-9
• 100-500 Hours and More Than Anyone Else 3-4