Fillable Form 8907- Nonconventional Source Fuel Credit

Form 8907 (2005)

Page

Part II

Passive Activity Limitation for Calendar Year 2005 Filers

(

)

Passive activity credits included on line 14 (see instructions)

Passive activity credits allowed for 2005 (see instructions)

Tentative credit. Combine lines 14, 15, and 16

Part III

Allowable Credit for Calendar Year 2005 Filers

Regular tax before credits:

}

● Individuals. Enter the amount from Form 1040, line 44

● Corporations. Enter the amount from Form 1120, Schedule J, line 3

● Other filers. Enter the regular tax before the credits from your return

Credits that reduce tax before the nonconventional source fuel credit:

19a

a Foreign tax credit

19b

b Credits from Form 1040, lines 48 through 54

19c

c Possessions tax credit (Form 5735, line 17 or 27)

19d

d Add lines 19a through 19c

Net regular tax. Subtract line 19d from line 18. If zero or less, do not file this form; you cannot claim

this credit

Tentative minimum tax (see instructions):

}

● Individuals. Enter the amount from Form 6251, line 33

● Corporations. Enter the amount from Form 4626, line 12

● Estates and trusts. Enter the amount from Form 1041, Schedule I, line 54

Subtract line 21 from line 20. If zero or less, do not file this form; you cannot claim this credit

Nonconventional source fuel credit. Enter the smaller of line 17 or line 22 here and on Form 1040,

line 55; Form 1120, Schedule J, line 6c; Form 1041, Schedule G, line 2b; or the appropriate line of

your return. If line 22 is smaller than line 17, see instructions

● The fuel is sold before January 1, 2008.

General Instructions

Biomass means any organic material other than oil, natural

Section references are to the Internal Revenue Code unless

gas, and coal (including lignite), or any product thereof.

otherwise noted.

Liquid, gaseous, or solid fuels produced from coal. This

Purpose of Form

includes lignite and any of these fuels when used as

feedstocks. The fuel qualifies for the credit if:

Use Form 8907 to figure the nonconventional source fuel

● It is produced by the taxpayer in a facility located in the

credit. This credit is allowed for a qualified fuel that you

United States or a U.S. possession that was placed in service

produced and that was sold by you to an unrelated person

after December 31, 1992, and before July 1, 1998, (pursuant

during the tax year. Qualified fuels for this credit are:

to a binding written contract in effect before January 1, 1997),

● Gas produced from biomass,

and

● Liquid, gaseous, or solid synthetic fuels produced from

● The fuel is sold before January 1, 2008.

coal, and

Coke and coke gas (for tax years ending after December

● Coke or coke gas (if sold after December 31, 2005).

31, 2005). The fuel qualifies for the credit if:

See Qualified Fuels below for more information.

● It is produced by the taxpayer in a facility located in the

Changes to the Nonconventional Source

United States or a U.S. possession that was placed in service

before January 1, 1993, or after January 1, 1998, and before

Fuel Credit

January 1, 2010, and

● The fuel is sold during the period beginning on the later of

For tax years ending after December 31, 2005, the

nonconventional source fuel credit becomes a general

January 1, 2006, or the date the facility is placed in service

business credit. Section 29 was redesignated as section 45K.

and ending 4 years after the date the period began.

Coke and coke gas. The credit has been extended to certain

You cannot claim the credit for coke or coke gas if

facilities that produce coke and coke gas fuel. In order to

the facility used to produce coke or coke gas was

qualify for the credit, the fuel must be produced and sold after

used to produce other qualified fuels and a credit

December 31, 2005.

CAUTION

for those fuels was allowed by reason of section

29(g) for this tax year or any preceding tax year.

Qualified Fuels

Specific Instructions

Gas produced from biomass. This fuel qualifies for the

credit if:

Filers with tax years ending on December 31, 2005.

● It is produced by the taxpayer in a facility located in the

Complete Parts I, II, and III.

United States or a U.S. possession that was originally placed

Fiscal-year filers with tax years ending after December 31,

in service after December 31, 1992, and before July 1, 1998,

2005. Complete Part I and Form 3800 (see line 14 instructions

(pursuant to a binding written contract in effect before

for exceptions).

January 1, 1997), and

Form 8907- Nonconventional Source Fuel Credit - 2005 Page 2

Related Articles

Related forms

Related Categories