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Future of professionals report 2025
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Screen F-3 - Farm - Passive Activity Information (1120)
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General Information
Passive activity code
If you enter passive carryovers from entities coded 3, they are considered 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, both prior-year suspended losses, and current-year net income are reported on Form 8810.
- If the current-year net income is equal to or greater than the prior-year suspended losses neither amount is reported on Form 8810.
- If there is a current-year net loss, only the prior-year suspended losses are reported on Form 8810.
note
Passive losses from this entity receive tax shelter farm treatment.
Aggregation group
If you are aggregating this activity, enter the aggregation group number in this field. Units with the same aggregation number are reported as one item in the statement worksheets for Form 8810. All of the entities in an aggregation must have the same passive code. Note that you cannot aggregate non-passive activities (code 3) if any of them have prior-year disallowed amounts.