Get the free Form 8873

Use this form to figure the amount of extraterritorial income excluded from gross income for the tax year and to determine eligibility for the extraterritorial income exclusion under the Internal

How to fill out form 8873

How to fill out Form 8873

1. Obtain a copy of Form 8873 from the IRS website or your tax professional.
2. Read the instructions carefully to understand the eligibility and requirements.
3. Fill out your personal information including your Social Security number, name, and address in the designated sections.
4. Complete Part I by providing details about the Qualified Electric Vehicle (QEV) including the make, model, and year.
5. In Part II, calculate the credit by entering the purchase price of the QEV and applying the maximum credit amount as specified.
6. Review and ensure all information is accurate, as errors may delay processing.
7. Sign and date the form at the end of the document.
8. Submit Form 8873 along with your tax return to the IRS.

Who needs Form 8873?

1. Individuals or businesses that purchased a qualified electric vehicle and wish to claim the Qualified Electric Vehicle Credit.
2. Taxpayers who meet the specific eligibility requirements outlined by the IRS for claiming the credit.

People Also Ask about

What is form 8873 used for?

Use Form 8873 to figure the amount of extraterritorial income excluded from gross income for the tax year. Attach the form to your income tax return.

Who must file form 8889?

You must file Form 8889 if any of the following applies. You (or someone on your behalf, including your employer) made contributions for 2024 to your HSA. You received HSA distributions in 2024. You must include certain amounts in income because you failed to be an eligible individual during the testing period.

Who completes form 8233?

More In Forms and Instructions This form is used by non resident alien individuals to claim exemption from withholding on compensation for personal services because of an income tax treaty or the personal exemption amount.

Why is the IRS asking me for form 8962?

Premium tax credit (PTC). The credit provides financial assistance to pay the premiums for the qualified health plan offered through a Marketplace by reducing the amount of tax you owe, giving you a refund, or increasing your refund amount. You must file Form 8962 to compute and take the PTC on your tax return.

What is the extra territorial income?

Extraterritorial income is the gross income of the taxpayer attributable to foreign trading gross receipts (defined below). The taxpayer reports all of its extraterritorial income on its tax return.

Who files form 8873?

Form 8873 is attached to the taxpayers income tax return. Both corporate and non-corporate taxpayers who have qualifying transactions may now be required to file Form 8873. The exclusion reported on Form 8873 was created by the Foreign Sales Corporation (FSC) Repeal and Extraterritorial Income Exclusion Act of 2000.

For pdfFiller’s FAQs

What is Form 8873?

Form 8873 is a tax form used to report certain transactions related to the allocation of tax credits under the Internal Revenue Code.

Who is required to file Form 8873?

Taxpayers who are claiming credits for investments in qualified solar energy systems or certain rehabilitation projects are required to file Form 8873.

How to fill out Form 8873?

To fill out Form 8873, taxpayers need to gather information regarding their tax credit claims, complete the necessary sections of the form, and provide accurate financial details as required.

What is the purpose of Form 8873?

The purpose of Form 8873 is to enable taxpayers to claim and report credits against their taxes, specifically related to specific qualified investments.

What information must be reported on Form 8873?

Form 8873 requires reporting detailed information about the tax credits being claimed, including the type of credit, the amount, and related expenses associated with the qualified investments.