Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
88rockhill
New Member

I need to know how line 11 on form 4562 is calculated 2016 return.

I did not enter that amount anywhere. Where does it come from? How does it get there? I know what the IRS says about it.

1 Reply
SweetieJean
Level 15

I need to know how line 11 on form 4562 is calculated 2016 return.

Line 11 The total cost you can deduct is limited to your taxable income from the active conduct of a trade or business during the year. You are considered to actively conduct a trade or business only if you meaningfully participate in its management or operations. A mere passive investor is not considered to actively conduct a trade or business. 

https://www.irs.gov/pub/irs-pdf/i4562.pdf at p.5.

Dynamic AdsDynamic Ads
Privacy Settings
v