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Form 8582 Home and Biz will not allow loss

I am having a problem with form 8582, allowing me to show a loss.   I have a multi family house, which I rent 1/2.

I was married last year and understand that you can not show a loss if married and filing separately,  I have filed married and filing jointly, but am still not allow to show a loss.  Form 8582 shows all the correct information, but it fills out part II as if married filing separately.  ie  line 5 is $150,000.  Software error or a, I missing something

 

Thanks in advance.

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1 Best answer

Accepted Solutions
KrisD15
Employee Tax Expert

Form 8582 Home and Biz will not allow loss

Form 8582 is 150,000 for filers filing Married Filing Jointly. 

Married Filling Separately may be restricted to 75,000.

 

If you read the line it says, “Enter $150,000. If married filing separately, see instructions”

 

According to the IRS:

Line 5. Married persons filing separate returns who lived apart from their spouses at all times during the year must
enter $75,000 on line 5 instead of $150,000.
 

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1 Reply
KrisD15
Employee Tax Expert

Form 8582 Home and Biz will not allow loss

Form 8582 is 150,000 for filers filing Married Filing Jointly. 

Married Filling Separately may be restricted to 75,000.

 

If you read the line it says, “Enter $150,000. If married filing separately, see instructions”

 

According to the IRS:

Line 5. Married persons filing separate returns who lived apart from their spouses at all times during the year must
enter $75,000 on line 5 instead of $150,000.
 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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