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We have profitt from a rental property, do I have to file a 8582? Also, when I list my assets for depreciation it shows on the Sch E but I do not have the 4562 Form.

 
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DianeW
Expert Alumni

We have profitt from a rental property, do I have to file a 8582? Also, when I list my assets for depreciation it shows on the Sch E but I do not have the 4562 Form.

The Form 8582 is filed to show the allowable rental loss as well as any passive loss carry overs that can be used in future years. Residential rental real estate has a special allowance that permits the losses to be used again other or active income.  If it has been generated for 2016, then you should file it with your return.

The IRS requires Form 4562 if a new asset was placed in service in 2016, if you have depreciation expense, but there is nothing new placed under depreciation for 2016 you will not see the form.  You may see a worksheet generated in the printing of the forms.

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