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Future of professionals report 2025
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Screen CA4835-3 - California Farm Rental - Passive Activity Information (1120)
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General Information
Passive activity code
Enter the appropriate activity type code. Enter a code directly or select one from the dropdown.
If you enter passive carryovers from entities coded
3
, the application considers them to be former passive activities. Income and losses from former passive activities are reported as follows:- If the current-year net income is less than the prior-year suspended losses, the application reports both prior-year suspended losses and current-year net income on Form 3802 for C Corporations or Form 3801 for S Corporations.
- If the current-year net income is equal to or greater than the prior-year suspended losses, neither amount is reported on Form 3802 for C Corporations or Form 3801 for S Corporations.
- If there is a current-year net loss, only the prior-year suspended losses are reported on Form 3802 for C Corporations or Form 3801 for S Corporations.
Aggregation group
If you are aggregating this activity, enter the aggregation group number. Units with the same aggregation number are reported as 1 item on the statement worksheets for Form 3802 for C Corporations or Form 3801 for S Corporations. All of the entities in an aggregation must have the same passive code.
Carryovers
Carryovers
In the boxes provided, enter last year’s regular and AMT passive loss carryovers for this activity. In future years, this information proformas automatically.
note
The application treats blank
AMT
boxes as having no AMT carryover. It doesn't use the regular carryovers as a default AMT amount. If there is no difference between the regular and AMT carryover, enter the same amount in both the Regular
and AMT
columns.