Form 8900 - Qualified Railroad Track Maintenance Credit - 2013 Page 2
Download a blank fillable Form 8900 - Qualified Railroad Track Maintenance Credit - 2013 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 8900 - Qualified Railroad Track Maintenance Credit - 2013 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
32
Form 8900 (2013)
Page
track is treated as multiple lines of railroad track, rather
The payment by an eligible taxpayer, as an assignee, to
than as a single line of railroad track. That is, one mile of
a Class II or Class III railroad, as an assignor, in exchange
single track is one mile, but one mile of double track is
for an assignment of miles of eligible railroad track for
two miles.
purposes of the credit computation is treated as QRTME
paid or incurred by the assignee and not the assignor.
Qualifying railroad structure is property located within
Line 3a (This line only applies to you if you are a Class II
the United States that includes, in part, tunnels, bridges,
and railroad track. For a complete description, see
or Class III railroad.)
Regulations section 1.45G-1(b)(4).
Enter the number of eligible railroad track miles (see
QRTME are expenditures (whether or not otherwise
Eligible railroad track above) owned or leased by you.
chargeable to a capital account) for maintaining,
Line 3b (This line only applies to you if you are a Class II
repairing, and improving a qualifying railroad structure
or Class III railroad.)
that is owned or leased as of January 1, 2005, by a Class
You must reduce on line 3b the number of miles of
II or Class III railroad. If you paid or incurred QRTME
eligible railroad track entered on line 3a that you assigned
during the tax year, you do not have to reduce that
to another eligible taxpayer for purposes of the credit
QRTME by any amount of direct or indirect
computation. You can only assign each mile of railroad
reimbursement to which you are entitled from a Class II or
track once during your tax year. Each mile of railroad
Class III railroad which made an assignment of eligible
track that you assign is treated as being assigned on the
railroad track to you.
last day of your tax year.
Adjustments to Basis
An assigned mile of eligible railroad track need not
Some or all of the QRTME paid or incurred by an eligible
correspond to any specific mile of eligible railroad track
for which the eligible taxpayer actually pays or incurs the
taxpayer may be required to be capitalized as a tangible
asset or an intangible asset, if applicable. See
QRTME. Further, an assignment requires no transfer of
legal title or other indicia of ownership of the eligible
Regulations section 1.45G-1(e)(1).
railroad track, and need not specify the location of any
Use the amount of RTMC to reduce the basis of a
assigned mile of eligible railroad track. However, the
qualifying railroad structure (including railroad track) asset
following information must be provided for the
or intangible asset, if applicable. The reduction is limited
assignment in the form of a statement attached to the tax
to the amount of QRTME capitalized for the asset. For
return for the tax year for which the assignment is made.
further details, see Regulations section 1.45G-1(e)(2).
• The name and taxpayer identification number of each
Member of Controlled Group or Business
assignee.
Under Common Control
• The total number of miles of the assignor's eligible
For purposes of figuring the credit, all members of a
railroad track.
“controlled group of corporations” and all members of a
• The number of miles of eligible railroad track assigned
“group of businesses under common control” are treated
by the assignor for the tax year to the assignee.
as a single taxpayer. See Regulations section
• The total number of miles of eligible railroad track
1.45G-1(f)(2) for a definition of these terms. As a member,
assigned by the assignor for the tax year to all assignees.
your credit is determined on a proportionate basis to your
share of the aggregate QRTME taken into account by the
Line 3c
group for the RTMC. Enter your share of the credit on line
The following information must be provided for the
5. Attach a statement showing how your share of the
assignment in the form of a statement attached to the tax
credit was figured, and write “See Attached” next to the
return for the tax year for which the assignment is made.
entry space for line 5.
• The total number of miles of eligible railroad track
Specific Instructions
assigned to the assignee for the assignee's tax year.
• Attestation that the assignee has in writing, and has
Line 1
retained as part of the assignee's records for purposes of
Qualified railroad track maintenance expenditures must
Regulations section 1.6001-1(a), the following information
be paid or incurred by an eligible taxpayer during the tax
from each assignor:
year.
a. The name and taxpayer identification number of each
assignor;
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial