Get the free 2015 Form 8864. Biodiesel and Renewable Diesel Fuels Credit - irs

14 Mar 2018 ... Use this form to figure your biodiesel and renewable diesel fuels credit. Claim the credit for the tax year in which the sale or use occurs.

How to fill out 2015 form 8864 biodiesel

How to fill out 2015 form 8864 biodiesel?

1. Start by entering your general information on the top of the form, including your name, business name, address, and taxpayer identification number.
2. Provide the total number of gallons of biodiesel produced during the year in Line 1a.
3. If you used any non-traditional feedstocks, such as animal fats or algae, to produce biodiesel, specify the amount in Line 1b.
4. Report any credits transferred from other taxpayers in Line 2.
5. Calculate the credit amount by multiplying the gallons from Line 1a by the applicable credit rate in Line 3.
6. If you have any carryforward credits from previous years, enter the amount in Line 4.
7. Subtract the credit from Line 4 from the credit calculated in Line 5 to determine the allowable credit in Line 6.
8. If you are a cooperative, fill in Line 7 with the number of patrons receiving payments for the tax year.
9. Multiply the total number of patrons in Line 7 by the amount in Line 6 to calculate the cooperative's allowable credit in Line 8.
10. Complete the remaining sections of the form, including any additional information required by attaching Schedule A, and sign and date the form.

Who needs 2015 form 8864 biodiesel?

1. Individuals or businesses that produced biodiesel during the 2015 tax year may need to fill out form 8864 biodiesel.
2. Entities that have used non-traditional feedstocks for biodiesel production, such as animal fats or algae, may also be required to complete this form.
3. It is important to consult the Internal Revenue Service (IRS) guidelines and seek professional advice to determine if you need to fill out form 8864 for the specific tax year.

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What is form 8864 biodiesel and?

Form 8864 is used to claim the biodiesel and renewable diesel fuels credit.

Who is required to file form 8864 biodiesel and?

Taxpayers who produce and sell biodiesel or renewable diesel fuels are required to file form 8864.

How to fill out form 8864 biodiesel and?

Form 8864 requires taxpayers to provide information about the quantity and type of biodiesel or renewable diesel fuels produced and sold.

What is the purpose of form 8864 biodiesel and?

The purpose of form 8864 is to calculate and claim the biodiesel and renewable diesel fuels credit.

What information must be reported on form 8864 biodiesel and?

Taxpayers must report the quantity and type of biodiesel or renewable diesel fuels produced, sold, and used during the tax year.