Screen WI4835-3 - Wisconsin Farm Rental - Passive Activity Information (1120)

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General Information

Passive activity code
Enter the appropriate activity type code. 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 WI Form 8810.
  • If the current-year net income is equal to or greater than the prior-year suspended losses, neither amount is reported on WI Form 8810.
  • If there is a current-year net loss, only the prior-year suspended losses are reported on WI Form 8810.

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