Page 323 - BusinessStructures & Forms

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The type and rule above prints on all proofs including departmental reproduction proofs. MUST be removed before printing.
line 7. See section 40(f) for an election the partnership can make to and trusts) must also be reported as interest income on line 5 of
not have the credit apply. Schedule K.
• New clean renewable energy bond credit (Form 8912). The
Work opportunity credit (code J). Complete Form 5884 to figure amount of this credit (excluding any credits from other partnerships,
the credit. Attach it to Form 1065. estates, and trusts) must also be reported as interest income on
Disabled access credit (code K). Complete Form 8826 to figure line 5 of Schedule K. In addition, the amount of this credit must also
the credit. Attach it to Form 1065. be reported as a cash distribution on line 19a of Schedule K.
• Qualified energy conservation bond credit (Form 8912). The
Empowerment zone employment credit (code L). Complete amount of this credit (excluding any credits from other partnerships,
Form 8844 to figure the credit. Attach it to Form 1065. estates, and trusts) must also be reported as interest income on
Credit for increasing research activities (code M). Complete line 5 of Schedule K. In addition, the amount of this credit must also
Form 6765 to figure the credit. Attach it to Form 1065. be reported as a cash distribution on line 19a of Schedule K.
• Qualified zone academy bond credit (Form 8912). The amount of
Note. The partnership should provide the information necessary for this credit (excluding any credits from other partnerships, estates,
the partner to determine whether the partnership is an eligible small and trusts) must also be reported as interest income on line 5 of
business under section 38(c)(5)(A). If the partner and the Schedule K. In addition, the amount of this credit must also be
partnership meet the requirements of section 38(c)(5)(A), the reported as a cash distribution on line 19a of Schedule K.
research credit may be treated as a specified credit. • Qualified school construction bond credit (Form 8912). The
Credit for employer social security and Medicare taxes paid amount of this credit (excluding any credits from other partnerships,
estates, and trusts) must also be reported as interest income on
on certain employee tips (code N). Complete Form 8846 to line 5 of Schedule K. In addition, the amount of this credit must also
figure the credit. Attach it to Form 1065. be reported as a cash distribution on line 19a of Schedule K.
Backup withholding (code O). This credit is for backup • Build America bond credit (Form 8912). The amount of this credit
withholding on dividends, interest, and other types of income of the (excluding any credits from other partnerships, estates, and trusts)
partnership. must also be reported as interest income on line 5 of Schedule K. In
Other credits (code P). Attach a statement to Form 1065 that addition, the amount of this credit must also be reported as a cash
distribution on line 19a of Schedule K.
identifies the types and amounts of any other credits not reported • Mine rescue team training credit (Form 8923).
elsewhere, such as the following. • Credit for employer differential wage payments (Form 8932).
• New markets credit. Complete Form 8874 to figure the credit.
Attach it to Form 1065. • Carbon oxide sequestration credit (Form 8933, Part V, line 14).
• Carbon oxide sequestration credit recapture (Form 8933, Part V,
• Qualified railroad track maintenance credit. Complete Form 8900 line 16). Enter as a negative number.
to figure the credit, and attach it to Form 1065. • Qualified plug-in electric drive motor vehicle credit (including
• Unused investment credit from the qualifying advanced coal qualified two-wheeled plug-in electric vehicles and new clean
project credit, qualifying gasification project credit, qualifying vehicles).
advanced energy project credit, and advanced manufacturing • Credit for small employer health insurance premiums (Form
investment credit allocated from cooperatives. 8941).
• Unused investment credit from the rehabilitation credit or energy • Employee retention credit for employers affected by qualified
credit allocated from cooperatives. disasters (Form 5884-A).
• Renewable electricity production credit. See Rev. Proc. 2007-65,
as modified by Announcement 2009-69 and Announcement • Employer credit for paid family and medical leave (Form 8994).
• Qualified commercial clean vehicle credit for vehicles acquired
2007-112, for a safe harbor method for allocating the credit for wind after 2022 (Form 8936-A).
energy production. Complete Form 8835 to figure the credit. Attach
a statement to Form 1065 and Schedule K-1 showing the allocation Schedule K-1. Enter in box 15 of Schedule K-1 each partner's
of the credit for production during the 4-year period beginning on the distributive share of the credits listed above. See additional
date the facility was placed in service and for production after that Schedule K-1 reporting information provided in the instructions
period. Attach Form 8835 to Form 1065. above. Enter the applicable code, H through P, in the column to the
• Indian employment credit. Complete Form 8845 to figure the left of the dollar amount entry space.
credit, and attach it to Form 1065. If you are reporting each partner's distributive share of only one
• Orphan drug credit. Complete Form 8820 to figure the credit, and type of credit under code P, enter the code with an asterisk (P*) and
attach it to Form 1065. the dollar amount in the entry space in box 15 and attach a
• Credit for small employer pension plan startup costs and statement that shows “Box 15, Code P” and type of credit. If you are
auto-enrollment. Complete Form 8881 to figure the credit, and reporting multiple types of credits under code P, enter the code with
attach it to Form 1065. an asterisk (P*) and enter “STMT” in the entry space in box 15 and
• Credit for employer-provided childcare facilities and services. attach a statement that shows “Box 15, Code P” and the types and
Complete Form 8882 to figure the credit, and attach it to Form 1065. dollar amounts of the credits. If the partnership has credits from
• Biodiesel, renewable diesel, or sustainable aviation fuels credit. more than one activity, identify on an attached statement to
Complete Form 8864, if applicable, to figure the credit, and attach it Schedule K-1 the amount of each type of credit for each separate
to Form 1065. If this credit includes the small agri-biodiesel producer activity. See Passive Activity Reporting Requirements, earlier.
credit, identify on a statement attached to Schedule K-1 (a) each
partner's distributive share of the small agri-biodiesel producer credit International Transactions
included in the total credit allocated to the partner, (b) the number of
gallons for which the partnership claimed the small agri-biodiesel Line 16. International Transactions
producer credit, and (c) the partnership's productive capacity for
agri-biodiesel. If the partnership had items of international tax relevance, see the
• Low sulfur diesel fuel production credit. Complete Form 8896 to instructions for Schedule K-2 (Form 1065) to determine if you need
figure the credit, and attach it to Form 1065. to attach Schedule K-2 and K-3. If you satisfy the domestic filing
• Credit for oil and gas production from marginal wells (Form 8904). exception to filing Schedule K-3, you must provide notification to the
• Distilled spirits credit (Form 8906). partner either through an attachment to the Schedule K-1, or
• Energy efficient home credit (Form 8908). separately prior to filing the Form 1065. If you satisfy an exception to
• Alternative motor vehicle credit (Form 8910). filing Schedule K-2, you may also attach a statement to the Form
• Alternative fuel vehicle refueling property credit (Form 8911). 1065 that states “Qualified for exception to filing Schedule K-2.”
• Clean renewable energy bond credit (Form 8912). The amount of
this credit (excluding any credits from other partnerships, estates,

-44- Instructions for Form 1065 (2022)