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Federal Corporate Passive Activity Loss and Credit Limitations
Extracted from PDF file 2023-federal-form-8810.pdf, last modified November 2023Corporate Passive Activity Loss and Credit Limitations
Form 8810 Department of the Treasury Internal Revenue Service Corporate Passive Activity Loss and Credit Limitations OMB No. 1545-0123 Attach to your tax return (personal service and closely held corporations only). Go to www.irs.gov/Form8810 for instructions and the latest information. 2023 Employer identification number Name Part I 1a 2023 Passive Activity Loss Caution: See the instructions and complete Worksheets 1 and 2 before completing Part I. Current year income (from Worksheet 2, column (a)) . . 1a Current year deductions and losses (from Worksheet 2, column (b)) . . . . . . . . . . . . . . . . . 1b ( ) c Prior year unallowed losses (from Worksheet 2, column (c)) 1c ( ) d Combine lines 1a, 1b, and 1c. If the result is net income or zero, see instructions . . b 2 3 1d Closely held corporations enter net active income and see instructions. Personal service corporations enter -0- on this line . . . . . . . . . . . . . . . . 2 Unallowed passive activity deductions and losses. Combine lines 1d and 2. If the result is net income or zero, see the instructions for lines 1d and 3. Otherwise, go to line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Total deductions and losses allowed. Add the income, if any, on lines 1a and 2 and enter the result (see instructions) . . . . . . . . . . . . . . . . . . . Part II 2023 Passive Activity Credits 4 Caution: See the instructions and complete Worksheet 5 before completing Part II. 5a b Current year credits (from Worksheet 5, column (a)) . . Prior year unallowed credits (from Worksheet 5, column (b)) 5a 5b 6 Add lines 5a and 5b . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Enter the tax attributable to net passive income and net active income. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Unallowed passive activity credit. Subtract line 7 from line 6. If the result is zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Allowed passive activity credit. Subtract line 8 from line 6. See instructions . . . 9 8 9 Part III Election To Increase Basis of Credit Property 10 If the corporation disposed of its entire interest in a passive activity or former passive activity in a fully taxable transaction, and the corporation elects to increase the basis of credit property used in that activity by the unallowed credit that reduced the property’s basis, check this box. See instructions . . . . . . 11 Name of passive activity disposed of: 12 Description of the credit property for which the election is being made: 13 Amount of unallowed credit that reduced the property’s basis . . . . . . . . . $ For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 10356T Form 8810 (2023)
2023 Form 8810
More about the Federal Form 8810 Corporate Income Tax Tax Credit TY 2023
We last updated the Corporate Passive Activity Loss and Credit Limitations in January 2024, so this is the latest version of Form 8810, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 8810 directly from TaxFormFinder. You can print other Federal tax forms here.
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Form Sources:
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 8810 from the Internal Revenue Service in January 2024.
Form 8810 is a Federal Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal Form 8810
We have a total of thirteen past-year versions of Form 8810 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2011 Form 8810
2011 Form 8810
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