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How to make the election not to apply

gains tax, if any, and reduce the

effect before April 1, 2008. See section

section 168(k)(4) to extension

refundable credit by the amount so

168(k)(4)(G)(iii) for special rules for

property. To make the election not to

applied. See the instructions for line h of

written binding contracts involving certain

apply section 168(k)(4) to extension

the Built-in Gains Tax Worksheet in the

passenger aircraft.

property, the corporation must attach a

separate instructions for those forms.

statement to its timely filed tax return

For corporations electing to accelerate

Extension property. Generally,

(including extensions) for its first tax year

the use of unused research credit

extension property is:

ending after December 31, 2008; and

carryforwards and obtain a refundable

•

Qualified property under section

provide written notification to any

credit in lieu of the special depreciation

168(k)(2) that is acquired after March 31,

partnership in which it is a partner. The

allowance, figure the bonus depreciation

2008, placed in service in 2009, and that

statement and the written notification to

amount attributable to the research credit

is not property described in section

the partnership must indicate that the

by using the Worksheet for Calculating

168(k)(2)(B) or (C), and

corporation is making the election not to

•

the Refundable Minimum Tax Credit and

Qualified property described in sections

apply section 168(k)(4) to extension

Research Credit Amounts, later.

168(k)(2)(B) and (C), that is acquired after

property. Generally, the notification to a

Allocations of bonus depreciation

March 31, 2008, and placed in service in

partnership in which the corporation is a

amounts to research credits may be

2010.

partner must be made on or before the

revoked only with the consent of the IRS.

This does not include property acquired

due date (including extensions) of the

pursuant to a written binding contract in

All others enter zero on line 16b.

corporation’s tax return for its first tax

year ending after December 31, 2008. If

the corporation makes a late election, the

notification to the partnership must be

Worksheet for Calculating the Refundable

made no later than the date the late

Minimum Tax Credit and Research Credit

election is filed. If the corporation timely

Amounts

Keep for Your Records

filed its tax return without making this

election, it can still make the election by

This worksheet is for extension property only. See the Instructions for Form 8827 for

filing an amended return within 6 months

round 2 extension property.

of the due date of the return (excluding

extensions). Attach the statement to the

Extension

property

amended return and write ‘‘Filed pursuant

1. Enter depreciation (including the special depreciation allowance)

to section 301.9100-2’’ at the top of the

that would have been allowed for extension property placed in

amended return. If the corporation does

service during the periods discussed under Extension property,

not meet the requirements of Regulations

earlier, if section 168(k)(1) had applied to such property. . . . . . .

section 301.9100-2, it can still file a

2. Enter depreciation for extension property placed in service during

request for extension of time to make the

the periods discussed under Extension property, earlier, and

election under Regulations section

figured without regard to section 168(k)(1). . . . . . . . . . . . . . . .

301.9100-3.

3. Subtract line 2 from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . .

4. Multiply line 3 by 20%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

How to make the extension property

5. Enter any unused research credit carryforward from tax years

election. To make the section 168(k)(4)

beginning before 2006. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

extension property election, a corporation

6. Enter any unused minimum tax credit carryforward from tax years

beginning before 2006. . . . . . . . . . . . . . . . . . . . . . . . . . . . .

claims the refundable credit on Schedule

7. Add line 5 and line 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

J, Part II, line 19c of Form 1120, U.S.

8. Multiply line 7 by 6% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Corporation Income Tax Return, for its

9. Enter the smaller of line 8 or $30,000,000. . . . . . . . . . . . . . . .

first tax year ending after December 31,

10. Enter any bonus depreciation amounts determined under section

2008, and attaches Form 3800 and Form

168(k)(4)(C) attributable to extension property for all preceding

4562, Depreciation and Amortization. The

tax years ending after March 31, 2008. . . . . . . . . . . . . . . . . .

10.

corporation must also provide written

11. Subtract line 10 from line 9. If zero or less, enter -0-. . . . . . . . .

11.

notification to the partnership in which it is

12. Bonus depreciation amount. Enter the smaller of line 4 or line 11.

12.

a partner. The notification must indicate

Note: If you do not have a research credit carryforward, or if you

that the corporation is making the section

choose not to allocate bonus depreciation amounts to research

credit carryforwards, skip lines 13 and 14 and enter -0- on line

168(k)(4) extension property election.

15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Generally, the notification to a partnership

13. Enter the amount from line 10 allocated to the research credit

in which the corporation is a partner must

carryforward shown on line 5. . . . . . . . . . . . . . . . . . . . . . . . .

13.

be made on or before the due date

14. Maximum bonus depreciation amount allocable to the research

(including extensions) of the corporation’s

14.

credit. Subtract line 13 from line 5. . . . . . . . . . . . . . . . . . . . .

tax return for its first tax year ending after

15. Refundable research credit. Enter the smaller of line 14 or the

December 31, 2008. If the corporation

amount on line 12 that you choose to allocate to the research

makes a late election, the notification to

credit. If you have a minimum tax credit, continue to line 16. All

others, enter the line 15 amount on your 2011 Form 3800, line

the partnership must be made no later

15.

16b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

than the date the late election is filed. If

16. Subtract line 15 from line 12. . . . . . . . . . . . . . . . . . . . . . . . .

16.

the corporation timely filed its tax return

17. Enter the amount from line 10 allocated to the minimum tax credit

without making this election, it can still

17.

carryforward shown on line 6. . . . . . . . . . . . . . . . . . . . . . . . .

make the election by filing an amended

18. Maximum bonus depreciation amount allocable to the minimum

return within 6 months of the due date of

tax credit. Subtract line 17 from line 6. . . . . . . . . . . . . . . . . . .

18.

the return (excluding extensions). Attach

19. Refundable minimum tax credit. Enter the smaller of line 18 or

the statement to the amended return and

line 16. Enter the line 19 amount on your 2011 Form 8827, line

write ‘‘Filed pursuant to section

7b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19.

301.9100-2’’ at the top of the amended

-4-

Instructions For Form 3800 - General Business Credit - Internal Revenue Service - 2011 Page 4

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