Get the free Form 8873

Income Leasing Income 17a 17b 17c 17d 17e 17f 17g 17h Cat. No. 30732F Form 8873 2005 Page Marginal Costing Note If you are not using Marginal Costing skip Part III and go to Part IV.

How to fill out form 8873

How to fill out Form 8873

1. Obtain Form 8873 from the IRS website or a tax professional.
2. Start by filling in your personal information at the top of the form, including your name, address, and Social Security number.
3. Identify the eligible fuel types and fill in the required details about your fuel consumption.
4. Calculate the amount of credit you are eligible for based on your fuel use.
5. Complete any additional sections if applicable, such as those related to your business information.
6. Review the completed form for accuracy, ensuring all necessary information is included.
7. Sign and date the form before submitting it to the IRS.

Who needs Form 8873?

1. Individuals or businesses that have used alternative fuels in their operations.
2. Taxpayers who are seeking to claim a credit for alternative fuel use under specific IRS guidelines.
3. Those who meet eligibility requirements for tax credits related to alternative fuel and clean vehicles.

People Also Ask about

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.

What is the meaning of extra territoriality?

noun. the privilege granted to some aliens, esp diplomats, of being exempt from the jurisdiction of the state in which they reside. the right or privilege of a state to exercise authority in certain circumstances beyond the limits of its territory.

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.

What is the extraterritorial income?

Extraterritorial income is the gross income of the taxpayer attributable to foreign trading gross receipts. The taxpayer reported all of its extraterritorial income on its tax return. The taxpayer used Form 8873 to calculate its exclusion from income that is qualifying foreign trade income.

What is a territorial tax income?

Territorial taxation is a system that excludes foreign earnings from a country's domestic tax base. This is common throughout the world and is the opposite of worldwide taxation, where foreign earnings are included in the domestic tax base.

What is the extra territorial area?

If something is extraterritorial, it's beyond the boundaries or control of a particular country, state, or region. This adjective is mainly used in a legal context.

For pdfFiller’s FAQs

What is Form 8873?

Form 8873 is a tax form used by eligible entities to report the Low-Income Housing Credit.

Who is required to file Form 8873?

Entities that claim the Low-Income Housing Credit, such as partnerships and corporations involved in residential rental properties for low-income individuals, must file Form 8873.

How to fill out Form 8873?

To fill out Form 8873, taxpayers must provide their entity information, details of the qualified low-income housing projects, and calculate the credit amount based on allowable rental income and expenses.

What is the purpose of Form 8873?

The purpose of Form 8873 is to calculate and claim the Low-Income Housing Credit, which incentivizes the development of affordable housing for low-income families.

What information must be reported on Form 8873?

Form 8873 requires information such as the name and address of the project, the number of low-income units, the amount of credits claimed, and the period for which the credit is claimed.