Instructions For Form 1097-Btc - Bond Tax Credit - 2017

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2017
Department of the Treasury
Internal Revenue Service
Instructions for Form
1097-BTC
Bond Tax Credit
Section references are to the Internal Revenue Code
Note. Issuers that have elected to issue build America
unless otherwise noted.
bonds (Direct Pay) under section 54AA(g) or specified tax
credit bonds under section 6431(f) to receive a refundable
Future Developments
credit under section 6431(a) in lieu of tax credits under
section 54A should not file Form 1097-BTC.
For the latest information about developments related to
Form 1097-BTC and its instructions, such as legislation
Definitions
enacted after they were published, go to
form1097btc.
Tax credit bond. Generally, a tax credit bond is an
Reminder
obligation issued under sections 54, 54A, 54AA, 1397E,
or 1400N(l) that entitles the taxpayer holding such bond
In addition to these specific instructions, you should also
on one or more credit allowance dates occurring during
use the 2017 General Instructions for Certain Information
any tax year to a credit against the federal income tax
Returns. Those general instructions include information
imposed for that tax year.
about the following topics.
Qualified tax credit bond. Qualified tax credit bonds
Who must file (nominee/middleman).
under section 54A include new clean renewable energy
When and where to file.
bonds under section 54C, qualified energy conservation
Electronic reporting requirements.
bonds under section 54D, qualified zone academy bonds
Corrected and voided returns.
under section 54E, and qualified school construction
Statements to recipients.
bonds under section 54F.
Taxpayer identification numbers.
Backup withholding.
New clean renewable energy bond. An obligation that
Penalties.
is part of an issue, 100% of the available project proceeds
Other general topics.
of which are to be used for capital expenditures incurred
by governmental bodies, public power providers, or
You can get the general instructions at
General
cooperative electric companies for one or more qualified
Instructions for Certain Information Returns
or
renewable energy facilities, as defined in section 54C.
form1097btc.
The annual credit allowed is 70% of the annual credit
amount determined by applying 54A(b).
Specific Instructions
Qualified energy conservation bond. An obligation
Issuers of certain tax credit bonds (or their agents) and
that is part of an issue, 100% of the available project
recipients of Form 1097-BTC from the bond issuer or
proceeds of which are to be used for one or more qualified
agent, such as mutual funds or partnerships, who are
energy conservation purposes, as defined in section 54D.
further distributing the credit must file Form 1097-BTC for
The annual credit allowed is 70% of the annual credit
each tax credit distributed from the following tax credit
amount determined by applying 54A(b).
bonds.
Qualified zone academy bond. An obligation that is
New clean renewable energy bonds.
part of an issue, 100% of the available project proceeds of
Qualified energy conservation bonds.
which are to be used for a qualified purpose for a qualified
Qualified zone academy bonds.
zone academy established by an eligible local education
Qualified school construction bonds.
agency, as provided in section 54E; or an obligation that is
Clean renewable energy bonds.
part of an issue, 95% or more of the proceeds of which
Build America bonds (Tax Credit).
are to be so used and issued before October 4, 2008, as
Filings of Form 1097-BTC with respect to a bond, by
provided by section 1397E.
the issuer or the issuer's agent, must be made on a
Qualified school construction bond. An obligation that
separate Form 1097-BTC for each bond.
is part of an issue, 100% of the available project proceeds
For tax credit bonds issued with two or more maturities,
of which are to be used for the construction, rehabilitation,
each maturity must be reported separately on the Form
or repair of a public school facility or for the acquisition of
1097-BTC issued by the bond issuer or its agent.
land on which such a facility is to be constructed with the
proceeds, as provided in section 54F.
Recipients of Form 1097-BTC from the bond issuer or
Clean renewable energy bond. An obligation that is
agent, such as brokers, nominees, mutual funds, or
part of an issue, 95% or more of the proceeds of which
partnerships, who are further distributing the credit must
are used for capital expenditures incurred by qualified
file only one Form 1097-BTC per recipient or account,
aggregating credit from all applicable bonds.
Sep 22, 2016
Cat. No. 54657F

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