Instructions For Form 3800 - General Business Credit - Internal Revenue Service - 2001 Page 2
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Reforestation investment credit.
attributable to sections 46(a)(1) regular
income from the sole proprietorship or
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Work opportunity credit (including any
investment credit and 46(b)(2)(C) and (D)
your interest in the partnership, S
jobs credit carryforward).
business energy investment credit (as in
corporation, estate, or trust (pass-through
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Welfare-to-work credit.
effect prior to the repeal of these three
entity) generating the credit. Figure the
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Credit for alcohol used as fuel.
sections by the Revenue Reconciliation
research credit limitation separately for
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Credit for increasing research activities.
Act of 1990). Include the reduced credit
each business enterprise by using the
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Low-income housing credit.
on line 6. Do not reduce any portion of
following formula:
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Enhanced oil recovery credit.
the credit attributable to qualified timber
Taxable income attributable
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Disabled access credit.
property. If you cannot use all of the
to the sole proprietorship or
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your interest in the
Renewable electricity production credit.
reduced credit because line 18a is
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pass-through entity
Indian employment credit.
smaller than line 8, carry forward to your
(Line 13 – line 16)
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Employer social security and Medicare
next tax year in the carryforward period
Your taxable income for the
year
taxes paid on certain employee tips.
the unused portion of the credit and a
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Orphan drug credit.
corresponding portion of the 35%
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The result figured above is limited to
New markets credit.
reduction. For example, if you are able to
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the excess of line 13 over line 16. If in the
Credit for contributions to selected
use only half of the credit in 2001, carry
current tax year you had no taxable
community development corporations.
forward the other half of the credit and
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income attributable to a particular
Trans-Alaska pipeline liability fund
half of the 35% reduction.
business interest, you cannot claim any
credit.
Line 7. Use only when you amend your
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research credit this year related to that
General credits from an electing large
2001 return to carry back unused credits
business.
partnership.
from 2002. Do not enter the carryback of
If your research credit is limited by the
Although these credits are aggregated
any unused empowerment zone
above formula, refigure the amount to
as the general business credit, keep a
employment credit on line 7. Instead,
enter on line 18b using only the total of
separate record of each credit to ensure
enter this carryback on Form 8844.
the amount calculated above for the
that no credits or deductions are lost.
Line 8. If this line is zero, skip Part II.
research credit plus the general business
credit from other sources. If necessary,
Part II—General Business
follow the Credit ordering rule on page
Specific Instructions
Credit Limitation Based on
1, and take into account any passive
activity credit limitations. Write “Sec.
Amount of Tax
41(g)” on the dotted line next to line 18b.
Part I—Tentative Credit
Corporations. If the corporation has
Line 9. Enter the regular tax before
Lines 1a – 1n. Complete the applicable
undergone a post-1986 “ownership
credits from the appropriate form or
part (generally Part I) of the appropriate
change” (as defined in section 382(g)),
schedule.
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section 383 may limit the amount of tax
credit form(s) to figure your current year
Individuals: Form 1040, line 40.
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credit(s). Enter this amount on the
that may be offset by pre-change general
Corporations: Form 1120, Schedule J,
applicable line 1 entry space(s) and
business credits. Also, if a corporation
line 3; Form 1120-A, Part I, line 1; or the
acquires control of another corporation (or
attach the credit form(s) to your return.
applicable line of your tax return.
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acquires its assets in a reorganization),
Estates and trusts: The sum of the
Line 1o. Attach a statement showing
section 384 may limit the amount of tax
amounts from Form 1041, Schedule G,
how you figured the section 4612(e)
attributable to recognized built-in gains
lines 1a and 1b, or the amount from the
credit.
that may be offset by pre-acquisition
applicable line of your tax return.
Line 1p. Enter the total of the amounts
general business credits. If either of these
Line 10. Enter the alternative minimum
shown in box 7 of the Schedules K-1
limitations apply, attach a computation of
tax (AMT) from the following line of the
(Form 1065-B) you received from electing
the allowable general business credit,
appropriate form or schedule.
large partnerships.
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enter the amount on line 18b, and write
Individuals: Form 6251, line 28.
Line 3. Enter the credits included on line
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“Sec. 383” or “Sec. 384” in the margin
Corporations: Form 4626, line 15.
2 that are from passive activities.
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next to your entry on line 18b.
Estates and trusts: Form 1041,
Generally, a passive activity is a trade or
Line 18c. Subtract line 44 of Form 6765
Schedule I, line 39.
business in which you did not materially
from the amount of the research credit
Line 14. Although you may not owe
participate. Generally, rental activities are
included on Form 3800, line 18b (but do
AMT, you generally must still compute the
passive activities, whether or not you
not enter less than zero). To figure the
tentative minimum tax (TMT) to figure
materially participate. See Form
amount of the research credit included on
your credit. For a small corporation
8582-CR, Passive Activity Credit
line 18b, follow the Credit ordering rule
exempt from the AMT under section
Limitations, or Form 8810, Corporate
on page 1, if necessary, and take into
55(e), enter zero. Otherwise, complete
Passive Activity Loss and Credit
account any passive activity credit
and attach the appropriate AMT form or
Limitations, for details.
limitations. See the instructions for Form
schedule and enter on line 14 the TMT
Line 5. Enter the passive activity credit
6765, line 56, for when and how to claim
from the following line of that form or
allowed for 2001 from Form 8582-CR or
the suspended research credit allowed for
schedule.
Form 8810. See the instructions for the
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the current year.
Individuals: Form 6251, line 26.
applicable form for details.
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Corporations: Form 4626, line 13.
Line 6. Add all carryforwards of unused
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Estates and trusts: Form 1041,
Schedule A
credits that make up the general business
Schedule I, line 37.
credit to find the business credit
Line 16. See section 38(c)(3) for special
C corporations. A corporation (other
carryforward to 2001.
rules that apply to married couples filing
than an S corporation) may be entitled to
For each credit, attach a detailed
separate returns, controlled corporate
a larger general business credit or
computation showing (a) the tax year the
groups, regulated investment companies,
additional credit against the AMT if: (a) it
credit originated, the amount of the credit,
real estate investment trusts, and estates
is claiming a regular investment credit
and the amount allowed for that year; (b)
and trusts.
carryforward on line 6, (b) some of that
for each carryback year, the year and the
investment credit cannot be used
Line 18b. If line 18a is smaller than line
amount of the credit allowed after you
because line 18a is smaller than line 8,
8, see Carryback and Carryforward of
applied the carryback; and (c) for each
and (c) it is required to file Form 4626,
Unused Credit on page 1.
carryforward year, the year and the
Alternative Minimum Tax — Corporations.
Individuals, estates, and trusts. The
amount of the credit allowed after you
Complete Schedule A to see if the
credit for increasing research activities
applied the carryforward.
corporation is entitled to an additional
included on line 18b is limited to the
You must reduce by 35% the portion of
credit.
amount of tax attributable to your taxable
the business credit carryforward
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