, Answering FAQ'sTurboTax Employee
Form 8582-CR is used by non-corporate taxpayers, including individuals, to figure the amount of any passive activity credit (including any prior year unallowed credits), and the amount of credit allowed for the current year. It also is used to make the election to increase the basis of credit property when a taxpayer disposes of his or her interest in an activity.
Entering Form 8582-CR in TurboTax
Don't worry! When you use TurboTax to prepare your taxes, we’ll ask you questions about your credits, figure out how many credits you can claim, and fill in all the right forms for you.
If you've already gone through the step-by-step interview and want to jump directly to the entry screen for this topic, follow these directions.
- Select Federal Taxes (Personal in the Home & Business edition).
In Online TurboTax, click the bars at the upper left corner to show Federal Taxes on the selection list; enlarge the screen if needed to show the left side selection list.
- Select Wages & Income, and in the next screen, click Explorer on My Own.
- Scroll down the Your Income Summary screen until you see the Business Items group.
- Click on the Start/Update button next to the Business Deductions and Credits category.
- Follow the prompts.
If you need to correct or change any information you have entered on your 8582-CR, the steps you take depends on if you have already filed your tax return.
- If you have yet to file your return, simply follow the navigation instructions above, and correct or change your information.
- If you have already filed your return and it was accepted by the IRS, you will need to amend your return. Refer to How to Amend a Return You Already Filed for instructions.
For questions about printing, refer to print a copy of your return.
If you have questions about the availability of form 8582-CR, see Federal tax form availability.