Fillable Form 8827 - Credit For Prior Year Minimum Tax - Corporations

Form 8827 (2016)

Page

Worksheet for Calculating the Refundable Minimum Tax Credit Amount. See instructions. Keep for your records.

Enter depreciation (including the special depreciation allowance) that would have been allowed for any

qualified property placed in service during the tax year, if sections 168(k)(1) and 168(k)(2)(F) had applied

to such property

Enter depreciation for any qualified property placed in service during the tax year, figured without regard

to sections 168(k)(1) and 168(k)(2)(F) .

Subtract line 2 from line 1

Multiply line 3 by 20% (0.20)

Enter the minimum tax credit for the corporation's first tax year ending after 2015

Multiply line 5 by 50% (0.50)

Enter any unused minimum tax credit carryforward from tax years beginning before 2016

Enter the smaller of line 6 or line 7 .

Refundable minimum tax credit. Enter the smaller of line 4 or line 8. Enter the amount from line 9 on

Form 8827, line 7b

S corporations that make the election to

corporation must use the same method of

You are not required to provide the

accelerate the minimum tax credit can use

allocation (ratable allocation or

information requested on a form that is

the credit only against the built-in gains

closing-of-the-books) for purposes of

subject to the Paperwork Reduction Act

tax. See the Instructions for Schedule D

sections 382 and 383. See Regulations

unless the form displays a valid OMB

(Form 1120S). Corporations that file Form

section 1.382-6 for details.

control number. Books or records relating

1120-REIT or Form 1120-RIC must apply

to a form or its instructions must be

Also, there may be a limit on the use of

the credit first against the built-in gains tax,

retained as long as their contents may

pre-acquisition excess credits of one

if any, and reduce the refundable credit by

become material in the administration of

corporation to offset the tax attributable to

the amount so applied. See the instructions

any Internal Revenue law. Generally, tax

recognized built-in gains of another

for the Built-in Gains Tax Worksheet in the

returns and return information are

corporation. See section 384 for details.

instructions for those forms.

confidential, as required by section 6103.

If either limit applies, attach a

The time needed to complete and file

Line 8

computation of the allowable minimum tax

this form will vary depending on individual

credit, enter the amount on lines 8a and

If the corporation had a post-1986

circumstances. The estimated burden for

8b, and write “Sec. 383” or “Sec. 384” on

ownership change (as defined in section

business taxpayers filing this form is

the dotted line to the left of the line 8a and

382(g)), there may be a limit on the amount

approved under OMB control number

8b entry spaces.

of pre-change minimum tax credits that

1545-0123 and is included in the estimates

can be applied against the corporation’s

shown in the instructions for their business

Paperwork Reduction Act Notice. We

tax for any tax year ending after the

income tax return.

ask for the information on this form to carry

ownership change. See section 383 and

out the Internal Revenue laws of the United

If you have comments concerning the

the related regulations. To figure the

States. You are required to give us the

accuracy of these time estimates, or

amount of the pre-change credit, the

information. We need it to ensure that you

suggestions for making this form simpler,

corporation must allocate the credit for the

are complying with these laws and to allow

we would be happy to hear from you. See

change year between the pre-change

us to figure and collect the right amount of

the instructions for the tax return with

period and the post-change period. The

tax.

which this form is filed.

Form 8827 - Credit For Prior Year Minimum Tax - Corporations - 2016 Page 2

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