MD does not have a state Form 8582. IRS Form 8582, Passive Activity Loss Limitations is currently available. If you are using the TurboTax CD\Download version, please update your software.
- Use Form 8582, Passive Activity Loss Limitations to summarize income and losses from passive activities and to compute the deductible losses.
- Generally, losses from passive activities that exceed the income from passive activities are disallowed for the current year. You can carry forward disallowed passive losses to the next taxable year.
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