Instructions For Form 5884 Work Opportunity Credit

Line 5

laws of the United States. You are required to give us the

information. We need it to ensure that you are complying

Cooperatives. A cooperative described in section

with these laws and to allow us to figure and collect the

1381(a) must allocate to its patrons the credit in excess of

right amount of tax.

its tax liability limit. Therefore, to figure the unused amount

You are not required to provide the information

of the credit allocated to patrons, the cooperative must

requested on a form that is subject to the Paperwork

first figure its tax liability. While any excess is allocated to

Reduction Act unless the form displays a valid OMB

patrons, any credit recapture applies as if the cooperative

control number. Books or records relating to a form or its

had claimed the entire credit.

instructions must be retained as long as their contents

If the cooperative is subject to the passive activity rules,

may become material in the administration of any Internal

include on line 3 any Form 5884 credit from passive

Revenue law. Generally, tax returns and return

activities disallowed for prior years and carried forward to

information are confidential, as required by section 6103.

this year. Complete Form 8810, Corporate Passive

Activity Loss and Credit Limitations, to determine the

The time needed to complete and file this form will vary

allowed credit that must be allocated to patrons. For

depending on individual circumstances. The estimated

details, see the Instructions for Form 8810.

burden for individual taxpayers filing this form is approved

under OMB control number 1545-0074 and is included in

Estates and trusts. Allocate the work opportunity credit

the estimates shown in the instructions for their individual

on line 4 between the estate or trust and the beneficiaries

income tax return. The estimated burden for all other

in the same proportion as income was allocated and enter

taxpayers who file this form is shown below.

the beneficiaries' share on line 5.

If the estate or trust is subject to the passive activity

Recordkeeping

3 hr.,

6 min.

rules, include on line 3 any Form 5884 credit from passive

. . . . . . . . . . . . . . . . . . . . . .

Learning about the law or the form

1 hr.,

15 min.

activities disallowed for prior years and carried forward to

. . . . . . . . .

Preparing and sending the form to the IRS

2 hr.,

34 min.

this year. Complete Form 8582-CR, Passive Activity

. . .

Credit Limitations, to determine the allowed credit that

must be allocated between the estate or trust and the

If you have comments concerning the accuracy of

beneficiaries. For details, see the Instructions for Form

these time estimates or suggestions for making this form

8582-CR.

simpler, we would be happy to hear from you. See the

Paperwork Reduction Act Notice. We ask for the

instructions for the tax return with which this form is filed.

information on this form to carry out the Internal Revenue

-3-

Instructions for Form 5884 (2015)

Instructions For Form 5884 Work Opportunity Credit - 2015 Page 3

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