IRS Form 1040-X | How to File Amended Form 1040 - Passive Activity Losses and Form 8582

For additional Form 1040-X Tutorials:
Form 1040-X for Child Tax Credit:    • IRS Form 1040-X  |  How to File Amend...  
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Form 1040-X for Foreign Tax Credits:    • IRS Form 1040-X  |  How to File Amend...  
Form 1040-X for Change of Filing Status:    • IRS Form 1040-X  |  How to File an Am...  

Form 1040 income tax returns can be amended by filing IRS Form 1040-X. Amended tax returns are filed to correct mistakes made on an original return, and they can be filed for certain carryback claims.

In this example, we look at a taxpayer who needs to file an amended tax return to reclassify a Schedule K-1 partnership investment from a nonpassive activity to a passive activity. The taxpayer incorrectly deducted passive activity losses on the originally filed Form 1040. By amending the return, the taxpayer reports the suspended losses on IRS Form 8582.

Form 8582 Tutorial:    • How to Complete IRS Form 8582 - Passi...  

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