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3801 limitations-2026

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The document is the California Form 3801-CR for the taxable year 2020, which outlines the Passive Activity Credit Limitations. It provides instructions for calculating and reporting passive activity credits related to rental real estate activities, low-income housing credits, and other passive activity credits. The form includes sections for entering various credit amounts, special allowances for rental real estate activities with active participation, and options for electing to increase the basis of credit property.

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Click ‘Get Form’ to open the 3801 limitations document in the editor.
Begin by entering your name(s) as shown on your return and your SSN, ITIN, FEIN, or CA corporation number in Part I.
For the 2020 Passive Activity Credits, complete Worksheets 1 through 4 using California amounts as instructed. Ensure you have all necessary figures from federal Worksheet 1 for lines 1a through 1c.
Continue filling out the Low-Income Housing Credits sections (lines 2a to 2c and lines 3a to 3c) by referencing the corresponding federal worksheets.
In Part II, if applicable, enter amounts on line 8 based on previous calculations and follow through with lines 9 to 16 as per the instructions provided.
Finally, review Part III for Passive Activity Credits Allowed and ensure all totals are accurately calculated before submission.

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Versions	Form popularity	Fillable & printable
2023	4.6 Satisfied (35 Votes)
2022	4.7 Satisfied (48 Votes)
2021	4.8 Satisfied (56 Votes)
2020	4.3 Satisfied (125 Votes)

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What are the limitations on using NOLs?

A net operating loss (NOL) occurs when a companys deductions exceed its taxable income. NOLs can be carried forward indefinitely but are limited to offsetting 80% of taxable income.

What is form 3801 used for?

Form FTB 3801 is filed by individuals, estates, trusts, and S corporations that have losses (including prior year unallowed losses) from passive activities. Additional information for nonresidents, part-year residents, and S corporations is provided below.

Does California conform to excess business loss limitation?

Also, California law does not conform to the federal changes in the American Rescue Plan Act of 2021 and the Inflation Reduction Act of 2022 that extends the limitation on excess business losses of noncorporate taxpayers for taxable years beginning after December 31, 2020 and ending before January 1, 2029.

What is the at risk limitation form for California?

What Is Form 6198: At-Risk Limitations. At-risk limitations prevent you from deducting more than your stake in a business. You can use Form 6198 to figure out how much you can deduct for losses from at-risk activity during the tax year. Note that youll need to file a separate 6198 form for each business activity.