Instructions For Form 8835 - 2011 Draft (Page 4 of 4) in pdf

of lines 8 and 9 or the sum of lines 29 and 30. Attach a

Estates and trusts. Allocate the credit on line 10 or line 30

statement to explain any difference.

between the estate or trust and the beneficiaries in the same

proportion as income was allocated and enter the beneficiaries’

Estates and trusts. If the estate or trust is subject to the

share on line 11 or line 31.

passive activity rules, enter on the applicable line 10 and line 30

the passive credit amount allowed from Form 8582-CR, Passive

Paperwork Reduction Act Notice. We ask for the information

Activity Credit Limitations, instead of the sum of lines 8 and 9 or

on this form to carry out the Internal Revenue laws of the United

the sum of lines 29 and 30. Attach a statement to explain any

States. You are required to give us the information. We need it

difference.

to ensure that you are complying with these laws and to allow

Line 11 and Line 31

us to figure and collect the right amount of tax.

You are not required to provide the information requested on

Cooperative election to allocate credit to patrons. A

a form that is subject to the Paperwork Reduction Act unless

cooperative described in section 1381(a) that is more than 50

the form displays a valid OMB control number. Books or

percent owned by agricultural producers or by entities owned by

records relating to a form or its instructions must be retained as

agricultural producers can elect to allocate any part of the

long as their contents may become material in the

renewable electricity, refined coal, and Indian coal production

administration of any Internal Revenue law. Generally, tax

credit among the patrons of the cooperative. The credit is

returns and return information are confidential, as required by

allocated among the patrons eligible to share in patronage

section 6103.

dividends on the basis of the quantity or value of business done

The time needed to complete and file this form will vary

with or for such patrons for the tax year.

depending on individual circumstances. The estimated burden

The cooperative is deemed to have made the election by

for individual taxpayers filing this form is approved under OMB

completing line 11 or line 31, as applicable. However, the

control number 1545-0074 and is included in the estimates

election is not effective unless (a) made on a timely filed return

shown in the instructions for their individual income tax return.

(including extensions) and (b) the organization designates the

The estimated burden for all other taxpayers who file this form

apportionment in a written notice mailed to its patrons during

is shown below.

the payment period described in section 1382(d).

If you timely file your return without making an election, you

Recordkeeping . . . . . . . . . . . . . . . . . . . . . . . . . . 16 hr., 44 min.

can still make the election by filing an amended return within 6

Learning about the law or the form . . . . . . . . . . . .

2 hr., 47 min.

months of the due date of the return (excluding extensions).

Preparing and sending the form to the IRS . . . . . . .

3 hr., 10 min.

Enter “Filed pursuant to section 301.9100-2” on the amended

return.

If you have comments concerning the accuracy of these time

estimates or suggestions for making this form simpler, we

Once made, the election cannot be revoked.

would be happy to hear from you. See the instructions for the

tax return with which this form is filed.

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Instructions For Form 8835 - 2011 Draft Page 4

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