Table of Contents
At-risk amounts. The following rules apply to amounts borrowed after May 3, 2004.
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You must file Form 6198 if you are engaged in an activity included in (6) under Activities Covered by the At-Risk Rules and you have borrowed certain amounts described in Certain borrowed amounts excluded under At-Risk Amounts in this publication.
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You may be considered at risk for certain amounts described in Certain borrowed amounts excluded under At-Risk Amounts secured by real property used in the activity of holding real property (other than mineral property) that, if nonrecourse, would be qualified nonrecourse financing.
Photographs of missing children. The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.
This publication discusses two sets of rules that may limit the amount of your deductible loss from a trade, business, rental, or other income-producing activity. The first part of the publication discusses the passive activity rules. The second part discusses the at-risk rules. However, when you figure your allowable losses from any activity, you must apply the at-risk rules before the passive activity rules.
Internal Revenue Service
Individual Forms and Publications Branch
SE:W:CAR:MP:T:I
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224
Internal Revenue Service
1201 N. Mitsubishi Motorway
Bloomington, IL 61705-6613
Publication
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527 Residential Rental Property (Including Rental of Vacation Homes)
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541 Partnerships
Form (and Instructions)
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4952 Investment Interest Expense Deduction
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6198 At-Risk Limitations
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8582 Passive Activity Loss Limitations
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8582-CR Passive Activity Credit Limitations
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8810 Corporate Passive Activity Loss and Credit Limitations
See How To Get Tax Help near the end of this publication for information about getting these publications and forms.
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