2011 Shareholder'S Instructions For Schedule K-1 (Form 1120s) (Page 11 of 14) in pdf

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Activity Limitations, earlier, and the

Credits that may be reported with

Qualified energy conservation

Instructions for Form 8582-CR for

code P include the following.

bond credit. Report this amount on

•

details.

Form 8912.

Unused investment credit from the

•

Build America bond credit. Report

qualifying advanced coal project

Code H. Undistributed capital

this amount on Form 8912.

credit, qualifying gasification project

gains credit. Code H represents

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Qualified school construction bond

credit, qualifying advanced energy

taxes paid on undistributed capital

credit. Report this amount on Form

project credit or qualifying therapeutic

gains by a regulated investment

8912.

discovery project credit allocated from

company or real estate investment

•

Mine rescue team training credit

cooperatives (Form 3468, line 9).

trust. Report these taxes on line 71 of

•

(Form 8923).

Unused investment credit from the

Form 1040, check box “a” for Form

•

Agricultural chemicals security

rehabilitation credit or energy credit

2439, and enter “Form 1120S.”

credit (Form 8931).

allocated from cooperatives (Form

Reduce the basis of your stock by

•

Credit for employer differential

3468, line 13).

this tax.

•

wage payments (Form 8932).

New hire retention credit (Form

Code I. Alcohol and cellulosic

•

Carbon dioxide sequestration credit

5884-B).

biofuel fuels credit. If this credit

•

(Form 8933).

Orphan drug credit (Form 8820).

includes the small ethanol producer

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Qualified plug-in electric drive

Qualified plug-in electric vehicle

credit, the corporation will provide

motor vehicle credit (Form 8936).

credit (Form 8834).

additional information on an attached

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Credit for small employer health

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Renewable electricity, refined coal,

statement. If no statement is

insurance premiums (Form 8941).

and Indian coal production credit. The

attached, report this amount on line 8

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General credits from an electing

corporation will provide a statement

of Form 6478, Alcohol and Cellulosic

large partnership. Report these

showing separately the amount of

Biofuel Fuels Credit. If a statement is

credits on Form 3800, line 1bb.

credit from Part I and Part II of Form

attached, see the instructions for

8835.

Form 6478, line 8.

Box 14. Foreign

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Indian employment credit (Form

Code J. Work opportunity credit.

8845).

Transactions

Report this amount on line 3 of Form

•

Biodiesel and renewable diesel

5884, Work Opportunity Credit, or line

Codes A through N. Use the

fuels credit. If this credit includes the

4b of Form 3800 (see TIP, earlier).

information identified by codes A

small agri-biodiesel producer credit,

Code K. Disabled access credit.

through N, code Q, and any attached

the corporation will provide additional

Report this amount on line 7 of Form

statements to figure your foreign tax

information on an attached statement.

8826, Disabled Access Credit, or line

credit.

If no statement is attached, report this

1e of Form 3800 (see TIP, earlier).

amount on line 9 of Form 8864. If a

If you have any qualified

Code L. Empowerment zone and

statement is attached, see the

dividends, capital gains

renewal community employment

instructions for Form 8864, line 9.

(including any capital gain

•

credit. Report this amount on line 3

New markets credit (Form 8874).

CAUTION

distributions), capital losses, net

of Form 8844, Empowerment Zone

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Credit for small employer pension

section 1231 gains, or net section

and Renewal Community

plan startup costs (Form 8881).

1231 losses, you may have to make

Employment Credit, or line 3 of Form

•

Credit for employer-provided

certain adjustments to those amounts

3800 (see TIP, earlier).

childcare facilities and services (Form

before taking them into account on

Code M. Credit for increasing

8882).

line 1a, line 5, or line 18 of Form

•

research activities. Report this

Low sulfur diesel fuel production

1116.

amount on line 37 of Form 6765,

credit (Form 8896).

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Credit for Increasing Research

For details, see Form 1116,

Qualified railroad track

Activities, or line 1c of Form 3800

Foreign Tax Credit, and its separate

maintenance credit (Form 8900).

•

(see TIP, earlier).

instructions. Also see Pub. 514,

Distilled spirits credit (Form 8906).

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Foreign Tax Credit for Individuals.

Code N. Credit for employer social

Nonconventional source fuel credit

security and Medicare taxes.

(Form 8907).

Codes O and P. Extraterritorial

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Report this amount on line 5 of Form

Energy efficient home credit (Form

income exclusion.

8846, Credit for Employer Social

8908).

1. Corporation did not claim the

•

Security and Medicare Taxes Paid on

Energy efficient appliance credit

exclusion. If the corporation reports

Certain Employee Tips, or line 4f of

(Form 8909).

your share of foreign trading gross

•

Form 3800 (see TIP, earlier).

Alternative motor vehicle credit

receipts (code O) and the

(Form 8910).

Code O. Backup withholding. This

extraterritorial income exclusion

•

is your share of the credit for backup

Alternative fuel vehicle refueling

(code P), the corporation was not

withholding on dividends, interest

property credit (Form 8911).

entitled to claim the exclusion

•

income, and other types of income.

Qualified zone academy bond

because it did not meet the foreign

Include this amount in the total you

credit. Report this amount on Form

economic process requirements. You

enter on Form 1040, line 62, and

8912.

may still qualify for your share of this

•

attach a copy of your Schedule K-1 to

Clean renewable energy bond

exclusion if the corporation’s foreign

your tax return.

credit. Report this amount on Form

trading gross receipts for the tax year

8912.

Code P. Other credits. On a

were $5 million or less. To qualify for

•

New clean renewable energy bond

statement attached to Schedule K-1,

this exclusion, your foreign trading

credit. Report this amount on Form

the corporation will identify the type of

gross receipts from all sources for the

8912.

credit and any other information you

tax year also must have been $5

•

Qualified forestry conservation

need to figure credits other than

million or less. If you qualify for the

bond credit. Report this amount on

those reported with codes A through

exclusion, report the exclusion

Form 8912.

O. Most credits identified by code P

amount in accordance with the

•

will be reported on Form 3800 (see

Midwestern tax credit bond credit.

instructions for box 1, 2, or 3,

TIP, earlier).

Report this amount on Form 8912.

whichever applies. See Form 8873,

-11-

Instructions for Schedule K-1 (Form 1120S)

2011 Shareholder'S Instructions For Schedule K-1 (Form 1120s) Page 11

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