Form 8582 Passive Activity Loss Limitations

[MAP5]

I completed my taxes and was reviewing the printout.   There are two copies of form 8582 in the printout, the second copy appears identical to the first copy with two exceptions:

1. The words "ALT MIN TAX   KEEP FOR YOUR RECORDS" are printed at the top of the second copy.
2. The entry on Line 1a of the second copy is different than on the first copy.  The entry on line 1a of the first copy exactly matches line 26 at the bottom of Schedule E;  however,  the entry on line 1a of the second copy is $22 higher.  I cannot find an explanation for this.

My question is why the different amounts on line 1a?

Thanks

[DeanM15 · Accepted solution]

The Alternative Minimum Tax is a separate taxation system that runs in parallel to the regular taxation system. The software runs both systems and will choose the system that taxes you the most (as the IRS requires it to do).

If you are subject to the AMT, you will see Form 6251, Alternative Minimum Tax—Individuals, in your return and an amount on Line 1, Schedule 2 of your 2019 Form 1040 which represents the difference between the two taxing systems.

In general, the AMT expands the amount of income that is taxed by adding items that are tax-free in the regular tax system. It also disallows many deductions under the regular tax system. It then applies a lower rate to the expanded taxable income. You can find out more about the AMT here.  

As to exactly why the number on Line 1a of Form 8582 is $22 higher I could not say without looking at the tax return.

[kid-marty]

Is the form Available for filing via mail?

[DoninGA]

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@kid-marty wrote:

Is the form Available for filing via mail?

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Form 8582, Passive Activity Loss Limitations is available to be either e-filed or printed and mailed with a tax return.

[PattiF]

This form can be used with TurboTax Deluxe, Premier or Self-employed.