Instructions For Form 1120-H - 2004 (Page 5 of 5) in pdf

Form 1120-H (2004)

Page

Item E. Show any tax-exempt interest

“LIH”, “QEV”, or “NMC”, “recapture”, and

The time needed to complete and file

received or accrued. Include any

the amount. For details, see Form 8611,

this form will vary depending on

exempt-interest dividend received as a

individual circumstances. The estimated

Recapture of Low-Income Housing Credit;

shareholder in a mutual fund or other

average time is:

Regulations section 1.30-1 (regarding the

regulated investment company.

qualified electric vehicle credit); or Form

Recordkeeping

11 hr., 43 min.

8874, New Markets Credit.

Line 21. Tax credits. The association

Learning about the

may qualify for the following tax credits:

Backup withholding. If the association

law or the form

5 hr., 19 min.

● Foreign tax credit. See Form 1118,

had income tax withheld from any

Preparing the form

13 hr., 12 min.

Foreign Tax Credit—Corporations.

payments it received because, for

Copying, assembling,

example, it failed to give the payer its

● Credit for fuel produced from a

and sending the form

correct EIN, include the amount withheld

nonconventional source. See section 29

to the IRS

2 hr., 9 min.

in the total for line 23g. This type of

for a definition of qualified fuels,

withholding is called backup withholding.

If you have comments concerning the

provisions for figuring the credit, and

Show the amount withheld in the blank

accuracy of these time estimates or

other special rules.

space in the right-hand column between

suggestions for making this form simpler,

● Qualified electric vehicle credit. See

lines 22 and 23g, and write “Backup

we would be happy to hear from you.

Form 8834, Qualified Electric Vehicle

Withholding.”

You can write to the Internal Revenue

Credit, and section 30.

Service, Tax Products Coordinating

Privacy Act and Paperwork Reduction

● The general business credit. See

Committee, SE:W:CAR:MP:T:T:SP, 1111

Act Notice. We ask for the information

Form 3800, General Business Credit.

Constitution Ave. NW, IR-6406,

on this form to carry out the Internal

However, it does not include the invest-

Washington, DC 20224. Do not send the

Revenue laws of the United States. You

ment credit, the Indian employment credit,

tax form to this office. Instead, see

are required to give us the information.

Where To File on page 3.

the work opportunity credit, the welfare-

We need it to ensure that you are

to-work credit, the empowerment zone

complying with these laws and to allow

and renewal community employment

us to figure and collect the right amount

credit, and the New York Liberty Zone

of tax. Section 6109 requires return

business employee credit.

preparers to provide their identifying

numbers on the return.

Note. The association may not claim the

qualified zone academy bond credit.

You are not required to provide the

information requested on a form that is

Enter the total amount of credits on

subject to the Paperwork Reduction Act

line 21 and attach the appropriate

unless the form displays a valid OMB

form(s).

control number. Books or records

Line 22. If the association must

relating to a form or its instructions must

recapture any of the low-income housing

be retained as long as their contents

credit (or the qualified electric vehicle or

may become material in the

new markets credit), include the amount

administration of any Internal Revenue

of the recapture in the total for line 22.

law. Generally, tax returns and return

To the right of the entry space, write

information are confidential, as required

by section 6103.

Instructions For Form 1120-H - 2004 Page 5

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