Form 8902 - Alternative Tax On Qualifying Shipping Activities Page 2
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22
Form 8902 (12-2007)
Page
Part III
Vessel Information
Description
A
B
C
D
1
Vessel name
2
IMO number
3
USCG VIN number
4
Flag
5
Date flagged
6
Vessel type
Yes
Yes
Yes
Yes
7
Vessel used in U.S. foreign trade?
No
No
No
No
Percentage of U.S. ownership in the
8
%
%
%
%
vessel
9
Type of ownership (see instructions)
10
Type of vessel use (see instructions)
11
Date placed in service
Part IV
Notional Shipping Income
A
B
C
D
12
Dead weight tons
13
Net tons
14
Enter the smaller of line 13 or 25,000
15
Multiply line 14 by 0.004
16
Subtract line 14 from line 13
17
Multiply line 16 by 0.002
Daily notional shipping income.
18
Add lines 15 and 17
19
Days operated in U.S. foreign trade
during the tax year
20
Multiply line 18 by line 19
21
Ownership percentage
%
%
%
%
22
Multiply line 20 by line 21
If any income from this vessel was excluded from gross income by reason of section 883 or otherwise, complete lines 23
through 27. Otherwise, skip lines 23 through 27 and enter the amount from line 22 on line 28.
A
B
C
D
23
Gross income excluded under section
883 or otherwise
24
Gross income from operation of
vessel in U.S. foreign trade
25
Add lines 23 and 24
26
Divide line 24 by line 25
27
Multiply line 22 by line 26
28
Annual notional shipping income.
Enter the amount from line 22 or line
27, whichever applies
Part V
Alternative Tax
$
29
Total annual notional shipping income (enter the sum of all columns of Part IV, line 28)
30
Alternative tax on qualifying shipping activities. Multiply line 29 by 35%. Enter here and on the
“Other taxes” line of Form 1120, Schedule J, or Form 1120-F, Schedule J. Be sure to check the box
for Form 8902
$
8902
Form
(12-2007)
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