Form 8900 - Qualified Railroad Track Maintenance Credit - 2012 Page 2
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Form 8900 (2012)
Page
Adjustments to Basis
• The number of miles of eligible railroad track assigned by the
assignor for the tax year to the assignee.
Some or all of the QRTME paid or incurred by an eligible
taxpayer may be required to be capitalized as a tangible asset
• The total number of miles of eligible railroad track assigned
or an intangible asset, if applicable. See Regulations section
by the assignor for the tax year to all assignees.
1.45G-1(e)(1).
Line 3c
Use the amount of RTMC to reduce the basis of a qualifying
The following information must be provided for the assignment
railroad structure (including railroad track) asset or intangible
in the form of a statement attached to the tax return for the tax
asset, if applicable. The reduction is limited to the amount of
year for which the assignment is made.
QRTME capitalized for the asset. For further details, see
Regulations section 1.45G-1(e)(2).
• The total number of miles of eligible railroad track assigned to
the assignee for the assignee's tax year.
Member of Controlled Group or Business
• Attestation that the assignee has in writing, and has retained
Under Common Control
as part of the assignee's records for purposes of Regulations
For purposes of figuring the credit, all members of a "controlled
section 1.6001-1(a), the following information from each
group of corporations" and all members of a "group of
assignor:
businesses under common control" are treated as a single
a. The name and taxpayer identification number of each
taxpayer. See Regulations section 1.45G-1(f)(2) for a definition
assignor;
of these terms. As a member, your credit is determined on a
b. The effective date of each assignment (treated as being made
proportionate basis to your share of the aggregate QRTME
by the assignor at the end of its tax year) to the assignee; and
taken into account by the group for the RTMC. Enter your share
of the credit on line 5. Attach a statement showing how your
c. The number of miles of eligible railroad track assigned by
share of the credit was figured, and write "See Attached" next to
each assignor to the assignee for the tax year of the assignee.
the entry space for line 5.
Notes. 1. The assignee cannot reassign miles.
Specific Instructions
2. If the assignor, in its required statement (see the
instructions for line 3b above), assigns more miles than it has at
Line 1
the end of its tax year, the excess will be used to reduce each
Qualified railroad track maintenance expenditures must be paid
assignee's allocation in the same proportion as the assignee's
or incurred by an eligible taxpayer during the tax year.
original allocation of miles bears in relation to the total miles
The payment by an eligible taxpayer, as an assignee, to a
originally assigned.
Class II or Class III railroad, as an assignor, in exchange for an
Paperwork Reduction Act Notice. We ask for the information
assignment of miles of eligible railroad track for purposes of the
on this form to carry out the Internal Revenue laws of the United
credit computation is treated as QRTME paid or incurred by the
States. You are required to give us the information. We need it
assignee and not the assignor.
to ensure that you are complying with these laws and to allow
Line 3a (This line only applies to you if you are a Class II or
us to figure and collect the right amount of tax.
Class III railroad.)
You are not required to provide the information requested on
Enter the number of eligible railroad track miles (see Eligible
a form that is subject to the Paperwork Reduction Act unless
railroad track above) owned or leased by you.
the form displays a valid OMB control number. Books or
Line 3b (This line only applies to you if you are a Class II or
records relating to a form or its instructions must be retained as
Class III railroad.)
long as their contents may become material in the
administration of any Internal Revenue law. Generally, tax
You must reduce on line 3b the number of miles of eligible
returns and return information are confidential, as required by
railroad track entered on line 3a that you assigned to another
section 6103.
eligible taxpayer for purposes of the credit computation. You
can only assign each mile of railroad track once during your tax
The time needed to complete and file this form will vary
year. Each mile of railroad track that you assign is treated as
depending on individual circumstances. The estimated burden
being assigned on the last day of your tax year.
for individual taxpayers filing this form is approved under OMB
control number 1545-0074 and is included in the estimates
An assigned mile of eligible railroad track need not
shown in the instructions for their individual income tax return.
correspond to any specific mile of eligible railroad track for
The estimated burden for all other taxpayers who file this form is
which the eligible taxpayer actually pays or incurs the QRTME.
shown below.
Further, an assignment requires no transfer of legal title or other
indicia of ownership of the eligible railroad track, and need not
Recordkeeping
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. 4 hr., 4 min.
specify the location of any assigned mile of eligible railroad
Learning about the law or the form .
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53 min.
track. However, the following information must be provided for
Preparing and sending the form to the IRS .
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1 hr.
the assignment in the form of a statement attached to the tax
return for the tax year for which the assignment is made.
If you have comments concerning the accuracy of these time
estimates or suggestions for making this form simpler, we would
• The name and taxpayer identification number of each
be happy to hear from you. See the instructions for the tax
assignee.
return with which this form is filed.
• The total number of miles of the assignor's eligible railroad
track.
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