Instructions For Form 8912 - Credit To Holders Of Tax Credit Bonds

(for a credit received from a pass-through entity that issued a

For a new clean renewable energy bond or a qualified

Form 1097-BTC) and line 2 (for a credit received from a

energy conservation bond, the credit is limited to 70%

pass-through entity that did not issue a Form 1097-BTC) is

(.70) of the total credit figured for the tax year. The

CAUTION

limited to the amount of tax attributable to your taxable income

amount reported in boxes 5a-5l of Form 1097-BTC and that is

from your interest in the pass-through entity distributing the

included in line 14 should not exceed 70% of the credit figured

credit. Figure the credit limitation separately for each interest in a

under section 54A(b) for these bonds.

pass-through entity using the following limitation formula.

Part IV—Bond credits from bonds held by you

Taxable income for the year attributable to your interest in the

and/or your nominee not reported to you on

pass-through entity

Form 1097-BTC

Line 11 x

Taxable income for the year

Complete and attach a Part IV for each bond you held or bond

credits received from a pass-through entity that were not

reported to you on Form(s) 1097-BTC. Complete and attach as

many copies of Part IV as you need to claim the credit(s) for

If in the current tax year you had no taxable income attributable

each bond you held directly or through a nominee and for which

to a particular interest in a pass-through entity, you cannot claim

you did not receive a Form 1097-BTC. Also, complete a

any CREB credit this tax year for that interest.

separate Part IV for each bond credit passed through to you

All taxpayers (other than estates and trusts). For line 12,

from a pass-through entity for which a Form 1097-BTC was not

add the line 1 and line 2 credits separately figured for each

issued. If multiple copies of Part IV are completed, enter the total

interest in a pass-through entity (as limited by the formula above

of all Parts IV, lines 20, on Part I, line 2.

for each such interest) to the total credit on line 4 not attributable

to that pass-through entity. Enter on line 12 the smaller of this

Note. If you are reporting a bond credit received from a

result or the amount on line 11. This limitation only applies to a

pass-through entity, complete lines 15a and 15b and enter the

CREB credit received from a pass-through entity.

credit amount on line 18, column (f).

Estates and trusts. For line 12, add the line 1 and line 2

credits separately figured for each interest in a pass-through

Line 15a

entity (as limited by the formula above for each such interest) to

the total credit on line 6 not attributable to that pass-through

Enter the bond issuer's name and address. If the credit was

entity. Enter on line 12 the smaller of this result or the amount on

received from a pass-through entity, enter the name of the entity

line 11. This limitation only applies to a CREB credit received

distributing the bond credit.

from a pass-through entity.

Line 15b

Part III—Bond credit(s) reported to you on

Form(s) 1097-BTC

Enter the bond issuer's employer identification number. If the

credit was received from a pass-through entity, enter the

Part III is used to list and total credits that are reported to you on

employer identification number of the pass-through entity

Form(s) 1097-BTC. Complete and attach as many copies of Part

distributing the credit.

III as needed to list the credits you are reporting for the current

tax year. Do not include credit amounts previously claimed on

Line 17

any of your returns. If multiple copies of Part III are completed,

enter the total of all Parts III, lines 14, on Part I, line 1.

If the bond was redeemed, sold, or otherwise disposed of, enter

the date.

Line 13, Column (b1)

Line 18, Column (a)

Enter the Form 1097-BTC issuer's federal identification number

shown on Form 1097-BTC.

Enter the CUSIP number of the bond. If there is no CUSIP

number, enter the principal payment dates of the bond. For

Line 13, Column (b2)

CREBs, enter the CUSIP number and principal payment dates.

For BABs, enter the CUSIP number and interest payment dates.

Enter the unique identifier shown in box 2b of Form 1097-BTC.

Line 18, Column (b)

Line 13, Column (c)

Enter the face amount of the CREB, qualified tax credit bond, or

Enter the amount shown in box 1 of any Form 1097-BTC you

QZAB (issued before October 4, 2008) minus any payment of

receive.

principal received. For a BAB, enter the amount of interest

If you receive Form(s) 1097-BTC from any

payable.

pass-through entity reporting your share of bond

credits, report the credit on Part III, line 13.

Line 18, Column (c)

CAUTION

The credit rate for the CREB, qualified tax credit bond, and

Note. Fiscal year filers should use information from applicable

QZAB (issued before October 4, 2008) is the rate published on

boxes 5a through 5l, Form 1097-BTC, to claim the credit for their

the Treasury Direct website under “IRS Tax Credit Bond Rates”

fiscal tax year.

for the

first day on which there is a binding contract in writing for the

Line 14

sale or exchange of the bond.

Add the amounts listed on line 13, column (c) and enter the total

The credit rate for QZABs issued before July 1, 1999, is

on line 14. If you complete and attach 1 copy of Part III, enter the

110% of the long-term applicable federal rate (AFR),

amount from line 14 on line 1. If you complete and attach

compounded annually, for the month and year the bond is

multiple copies of Part III, add the amounts entered for all lines

issued. The IRS announces the long-term AFR monthly in a

14 and enter the total on line 1.

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Instructions For Form 8912 - Credit To Holders Of Tax Credit Bonds - 2014 Page 3

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