Fillable Form 8827 - Credit For Prior Year Minimum Tax printable pdf download

8827

Credit for Prior Year Minimum Tax—Corporations

OMB No. 1545-1257

Form

2012

Attach to the corporation’s tax return.

▶

Department of the Treasury

Information about Form 8827 and its instructions is at

▶

Internal Revenue Service

Employer identification number

Name

Alternative minimum tax (AMT) for 2011. Enter the amount from line 14 of the 2011 Form 4626

Minimum tax credit carryforward from 2011. Enter the amount from line 9 of the 2011 Form 8827

Enter any 2011 unallowed qualified electric vehicle credit (see instructions) .

Add lines 1, 2, and 3 .

Enter the corporation’s 2012 regular income tax liability minus allowable tax credits (see

instructions) .

Is the corporation a “small corporation” exempt from the AMT for 2012 (see instructions)?

• Yes. Enter 25% of the excess of line 5 over $25,000. If line 5 is $25,000 or less, enter -0-

• No. Complete Form 4626 for 2012 and enter the tentative minimum tax from line 12

7 a Subtract line 6 from line 5. If zero or less, enter -0- .

b For a corporation electing to accelerate the minimum tax credit, enter the bonus depreciation

amount attributable to the minimum tax credit (see instructions) .

c Add lines 7a and 7b

8 a Enter the smaller of line 4 or line 7c. If the corporation had a post-1986 ownership change or

has pre-acquisition excess credits, see instructions .

b Current year minimum tax credit. Enter the smaller of line 4 or line 7a here and on Form 1120,

Schedule J, Part I, line 5d (or the applicable line of your return). If the corporation had a

post-1986 ownership change or has pre-acquisition excess credits, see instructions. If you

made an entry on line 7b, go to line 8c. Otherwise, skip line 8c .

c Subtract line 8b from line 8a. This is the refundable amount for a corporation electing to

accelerate the minimum tax credit. Include this amount on Form 1120, Schedule J, Part II, line

19c (or the applicable line of your return)

Minimum tax credit carryforward to 2013. Subtract line 8a from line 4. Keep a record of this

amount to carry forward and use in future years .

Instructions

Line 5

Generally, round 2 extension property is

property that is eligible qualified property

Enter the corporation’s 2012 regular income

Section references are to the Internal Revenue

solely because it meets the requirements

tax liability (as defined in section 26(b)) minus

Code unless otherwise noted.

under the extension of the additional special

any credits allowed under Chapter 1,

depreciation allowance to certain property

What's New

Subchapter A, Part IV, subparts B, D, E, and F

placed in service after December 31, 2010,

of the Internal Revenue Code (for example, if

The election to claim a refundable credit for

and before January 1, 2013. See section

you are filing Form 1120, subtract any credits

certain unused minimum tax credits in lieu of

168(k)(4)(l).

on Schedule J, Part I, line 5a, through 5c,

the special depreciation allowance for

If the corporation did not make the election

from the amount on Schedule J, Part I, line 2).

qualified property has been extended to

for either its first tax year ending after March

round 3 extension property placed in service

Line 6

31, 2008, or its first tax year ending after

after December 31, 2012, and before January

December 31, 2008, the corporation may

See the 2012 Instructions for Form 4626 to

1, 2014. See the instructions for line 7b.

elect, for its first tax year ending after

find out if the corporation is treated as a

December 31, 2010, to claim pre-2006

“small corporation” exempt from the AMT for

Purpose of Form

unused minimum tax credits in lieu of claiming

2012. If the corporation is a “small

Corporations use Form 8827 to figure the

the special depreciation allowance for round 2

corporation” exempt from the AMT, see

minimum tax credit, if any, for AMT incurred in

extension property. This election is effective

section 38(c)(5) before completing line 6 for

prior tax years and to figure any minimum tax

for each subsequent year for round 2

special rules that apply to controlled

credit carryforward.

extension property only.

corporate groups, regulated investment

companies, and real estate investment trusts.

Once made, the elections cannot be

Who Should File

revoked without IRS consent.

Line 7b

Form 8827 should be filed by corporations

Round 3 extension property. For a fiscal

that had:

Round 2 extension property. If the

year corporation with a tax year ending after

corporation made an election under section

• An AMT liability in 2011,

December 31, 2012, if the corporation made

168(k)(4)(A) to claim pre-2006 unused

an election to claim pre-2006 unused

• A minimum tax credit carryforward from

minimum tax credits in lieu of claiming the

2011 to 2012, or

special depreciation allowance for certain

• A qualified electric vehicle credit not allowed

property for its first tax year ending after

qualified property for either its first tax year

for 2011 (see the instructions for line 3).

March 31, 2008, or under section 168(k)(4)(H)

ending after March 31, 2008, its first tax year

(ii) for its first tax year ending after December

Line 3

ending after December 31, 2008, or its first

31, 2008, the election continues to apply to

tax year ending after December 31, 2010, the

Enter any qualified electric vehicle credit

round 2 extension property (defined below)

election continues to apply to round 3

unless the corporation made an election not

not allowed for 2011 solely because of

extension property (defined below) placed in

to apply the original election to round 2

tentative minimum tax limitations.

service after December 31, 2012, unless the

extension property.

corporation makes an election not to apply

8827

Form

(2012)

Cat. No. 13008K

Form 8827 - Credit For Prior Year Minimum Tax

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