Get Form 8810

Completing Form 8810 online can be a seamless process when you understand each section and field. This guide provides clear, step-by-step instructions to help you accurately submit the form required for reporting passive activity losses and credits.

Follow the steps to complete Form 8810 online successfully.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin with Part I of the form, which focuses on 2012 passive activity loss. Before entering any information, complete federal Worksheet 1 and Worksheet 2 using California amounts. Fill in line 1a with the current year income from federal Worksheet 2, column (a) and line 1b with current year deductions and losses from column (b). Line 1c requires prior year unallowed losses from column (c). Then, calculate the sum of lines 1a, 1b, and 1c on line 1d, which will guide your next steps depending on the result.
3. For line 2, if you are a closely held C corporation, enter your net active income, following the specific instructions provided for personal service corporations or closely held C corporations as needed.
4. Line 3 should include any unallowed passive activity deductions and losses by summing line 1d and line 2, assessing if you have a net income or if further actions are required based on the instructions.
5. In line 4, total the deductions and losses allowed by adding any earnings from line 1a and line 2, ensuring you consult the accompanying instructions to verify your figures.
6. Move on to Part II to calculate your 2012 passive activity credits. Start by filling in line 5a with current year passive activity credits from federal Worksheet 5, column (a) and line 5b with prior year unallowed credits from column (b). Combine these figures on line 6.
7. Enter the tax related to your net active and net passive income on line 7, following any specific conditions that might apply to your situation.
8. For line 8, calculate the unallowed passive activity credit by subtracting line 7 from line 6, ensuring you understand the implications of entering a zero or negative value.
9. Finally, complete line 9 by determining your allowed passive activity credit based on the calculations made previously. This section may require additional allocation based on federal Worksheets.
10. After completing the form, ensure you save your changes. You can then download, print, or share the form as necessary for your records.

Start filling out your Form 8810 online today to ensure timely and accurate submission.