Instructions For Form 3800 - General Business Credit - Internal Revenue Service - 2011 Page 4
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Qualified property described in sections
Research Credit Amounts. Allocations of
apply section 168(k)(4) to extension
168(k)(2)(B) and (C), that is acquired after
bonus depreciation amounts to research
property. Generally, the notification to a
March 31, 2008, and placed in service in
credits may be revoked only with the
partnership in which the corporation is a
2010.
consent of the IRS. All others enter zero
partner must be made on or before the
This does not include property acquired
on line 16b.
due date (including extensions) of the
pursuant to a written binding contract in
corporation’s tax return for its first tax
How to make the election not to apply
effect before April 1, 2008. See section
year ending after December 31, 2008. If
section 168(k)(4) to extension
168(k)(4)(G)(iii) for special rules for
the corporation makes a late election, the
property. To make the election not to
written binding contracts involving certain
notification to the partnership must be
apply section 168(k)(4) to extension
passenger aircraft.
made no later than the date the late
property, the corporation must attach a
election is filed. If the corporation timely
For corporations electing to accelerate
statement to its timely filed tax return
filed its tax return without making this
the use of unused research credit
(including extensions) for its first tax year
election, it can still make the election by
carryforwards and obtain a refundable
ending after December 31, 2008; and
filing an amended return within 6 months
credit in lieu of the special depreciation
provide written notification to any
of the due date of the return (excluding
allowance, figure the bonus depreciation
partnership in which it is a partner. The
extensions). Attach the statement to the
amount attributable to the research credit
statement and the written notification to
amended return and write ‘‘Filed pursuant
by using the Worksheet for Calculating
the partnership must indicate that the
to section 301.9100-2’’ at the top of the
the Refundable Minimum Tax Credit and
corporation is making the election not to
amended return. If the corporation does
not meet the requirements of Regulations
section 301.9100-2, it can still file a
Worksheet for Calculating the Refundable
request for extension of time to make the
Minimum Tax Credit and Research Credit
election under Regulations section
Amounts
301.9100-3.
Keep for Your Records
How to make the extension property
This worksheet is for extension property only. See the Instructions for Form 8827 for
election. To make the section 168(k)(4)
round 2 extension property.
extension property election, a corporation
Extension
claims the refundable credit on Schedule
property
J, Part II, line 19c of Form 1120, U.S.
1. Enter depreciation (including the special depreciation allowance)
Corporation Income Tax Return, for its
that would have been allowed for extension property placed in
first tax year ending after December 31,
service during the periods discussed under Extension property,
earlier, if section 168(k)(1) had applied to such property. . . . . . .
1.
2008, and attaches Form 3800 and Form
2. Enter depreciation for extension property placed in service during
4562, Depreciation and Amortization. The
the periods discussed under Extension property, earlier, and
corporation must also provide written
figured without regard to section 168(k)(1). . . . . . . . . . . . . . . .
2.
notification to the partnership in which it is
3. Subtract line 2 from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . .
3.
a partner. The notification must indicate
4. Multiply line 3 by 20%. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
that the corporation is making the section
5. Enter any unused research credit carryforward from tax years
168(k)(4) extension property election.
beginning before 2006. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5.
Generally, the notification to a partnership
6. Enter any unused minimum tax credit carryforward from tax years
6.
in which the corporation is a partner must
beginning before 2006. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7. Add line 5 and line 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7.
be made on or before the due date
8. Multiply line 7 by 6% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8.
(including extensions) of the corporation’s
9. Enter the smaller of line 8 or $30,000,000. . . . . . . . . . . . . . . .
9.
tax return for its first tax year ending after
10. Enter any bonus depreciation amounts determined under section
December 31, 2008. If the corporation
168(k)(4)(C) attributable to extension property for all preceding
makes a late election, the notification to
tax years ending after March 31, 2008. . . . . . . . . . . . . . . . . .
10.
the partnership must be made no later
11. Subtract line 10 from line 9. If zero or less, enter -0-. . . . . . . . .
11.
than the date the late election is filed. If
12. Bonus depreciation amount. Enter the smaller of line 4 or line 11.
12.
the corporation timely filed its tax return
Note: If you do not have a research credit carryforward, or if you
without making this election, it can still
choose not to allocate bonus depreciation amounts to research
credit carryforwards, skip lines 13 and 14 and enter -0- on line
make the election by filing an amended
15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
return within 6 months of the due date of
13. Enter the amount from line 10 allocated to the research credit
the return (excluding extensions). Attach
carryforward shown on line 5. . . . . . . . . . . . . . . . . . . . . . . . .
13.
the statement to the amended return and
14. Maximum bonus depreciation amount allocable to the research
write ‘‘Filed pursuant to section
14.
credit. Subtract line 13 from line 5. . . . . . . . . . . . . . . . . . . . .
301.9100-2’’ at the top of the amended
15. Refundable research credit. Enter the smaller of line 14 or the
return. If the corporation does not meet
amount on line 12 that you choose to allocate to the research
credit. If you have a minimum tax credit, continue to line 16. All
the requirements of Regulations section
others, enter the line 15 amount on your 2011 Form 3800, line
301.9100-2, it can still file a request for
15.
16b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
extension of time to make the election
16. Subtract line 15 from line 12. . . . . . . . . . . . . . . . . . . . . . . . .
16.
under Regulations section 301.9100-3.
17. Enter the amount from line 10 allocated to the minimum tax credit
17.
carryforward shown on line 6. . . . . . . . . . . . . . . . . . . . . . . . .
For more information on the election to
18. Maximum bonus depreciation amount allocable to the minimum
accelerate the research credit in lieu of
tax credit. Subtract line 17 from line 6. . . . . . . . . . . . . . . . . . .
18.
the special depreciation allowance,
19. Refundable minimum tax credit. Enter the smaller of line 18 or
including how to make the elections
line 16. Enter the line 19 amount on your 2011 Form 8827, line
regarding extension property, see the
7b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.
following.
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