Instructions for IRS Form 6478 - Biofuel Producer Credit 2018

October 1, 2018 "Instructions For Irs Form 6478 - Biofuel Producer Credit" contain the updated filing procedures for the IRS-issued Form 6478. Download your copy of the instructions by clicking the link below.

IRS Form 6478 is tax form released and collected by the Internal Revenue Service of the United States.

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2018
Department of the Treasury
Internal Revenue Service
Instructions for Form 6478
Biofuel Producer Credit
Section references are to the Internal Revenue Code
Schedule K-1 (Form 1041), Beneficiary’s Share of
unless otherwise noted.
Income, Deductions, Credits, etc., box 13 (code H); and
Form 1099-PATR, Taxable Distributions Received
Future Developments
From Cooperatives, box 10, or other notice of credit
allocation.
For the latest information about developments related to
Form 6478 and its instructions, such as legislation
Partnerships, S corporations, cooperatives, estates,
enacted after they were published, go to
IRS.gov/
and trusts must always report the above credits on line 3.
Form6478.
All other taxpayers:
What’s New
Report the above credits directly on Form 3800, Part III,
line 4c; and
At the time these instructions went to print, the
Don’t file Form 6478.
biofuel producer credit formerly claimed on lines 1
!
Line 5
and 2 had expired. You can't claim the credit on
CAUTION
line 1 and 2 for fuel sold or used after 2017. Lines 1 and 2
Cooperatives. A cooperative described in section
are now shown as "Reserved for future use" in case
1381(a) can elect to allocate any part of the biofuel
Congress extends the credit for 2018. To find out if
producer credit to patrons of the cooperative. The credit is
legislation extended the credit so you can claim it on your
allocated pro rata among the patrons eligible to share in
2018 return, go to IRS.gov/Extenders.
patronage dividends on the basis of the quantity or value
of business done with or for the patrons for the tax year.
General Instructions
If the cooperative is subject to the passive activity rules,
include on line 3 any Form 6478 credits from passive
Purpose of Form
activities disallowed for prior years and carried forward to
Partnerships, S corporations, cooperatives, estates, and
this year. Complete Form 8810, Corporate Passive
trusts must file this form to claim the credit. All other
Activity Loss and Credit Limitations, to determine the
taxpayers aren’t required to complete or file this form if
allowed producer credits that can be allocated to patrons.
their only source for this credit is a partnership, S
For details, see the Instructions for Form 8810.
corporation, cooperative, estate, or trust. Instead, they
The cooperative is deemed to have made the election
can report this credit directly on line 4c in Part III of Form
by completing line 5. However, the election isn’t effective
3800, General Business Credit.
unless:
Recapture of Credit
It’s made on a timely filed tax return (including
extensions), and
You must pay a tax (recapture) on each gallon of second
The cooperative designates the apportionment in a
generation biofuel at the rate you used to figure the credit
written notice or on Form 1099-PATR mailed to its patrons
if you don’t use the fuel for the purposes described under
during the payment period described in section 1382(d).
section 40(b)(6)(C). Report the tax on Form 720,
If the cooperative timely filed its return without making
Quarterly Federal Excise Tax Return.
an election, it can still make the election by filing an
amended return within 6 months of the due date of the
Specific Instructions
return (excluding extensions). Write “Filed pursuant to
section 301.9100-2” on the amended return.
Line 1 and Line 2
Once made, the election can’t be revoked.
These lines are reserved in case Congress extends the
Estates and trusts. Allocate the biofuel producer credit
credit to apply to fuel sold or used after December 31,
on line 4 between the estate or trust and the beneficiaries
2017. When using these lines to figure the amount on this
in the same proportion as income was allocated and enter
or other tax forms or worksheets, the amount in these
the beneficiaries’ share on line 5.
lines should be considered to be zero.
If the estate or trust is subject to the passive activity
Line 3
rules, include on line 3 any Form 6478 credits from
passive activities disallowed for prior years and carried
Enter total biofuel producer credits from:
forward to this year. Complete Form 8582-CR, Passive
Schedule K-1 (Form 1065), Partner’s Share of Income,
Activity Credit Limitations, to determine the allowed credit
Deductions, Credits, etc., box 15 (code I);
that must be allocated between the estate or trust and the
Schedule K-1 (Form 1120S), Shareholder’s Share of
beneficiaries. See the Instructions for Form 8582-CR.
Income, Deductions, Credits, etc., box 13 (code I);
Oct 01, 2018
Cat. No. 13606U
2018
Department of the Treasury
Internal Revenue Service
Instructions for Form 6478
Biofuel Producer Credit
Section references are to the Internal Revenue Code
Schedule K-1 (Form 1041), Beneficiary’s Share of
unless otherwise noted.
Income, Deductions, Credits, etc., box 13 (code H); and
Form 1099-PATR, Taxable Distributions Received
Future Developments
From Cooperatives, box 10, or other notice of credit
allocation.
For the latest information about developments related to
Form 6478 and its instructions, such as legislation
Partnerships, S corporations, cooperatives, estates,
enacted after they were published, go to
IRS.gov/
and trusts must always report the above credits on line 3.
Form6478.
All other taxpayers:
What’s New
Report the above credits directly on Form 3800, Part III,
line 4c; and
At the time these instructions went to print, the
Don’t file Form 6478.
biofuel producer credit formerly claimed on lines 1
!
Line 5
and 2 had expired. You can't claim the credit on
CAUTION
line 1 and 2 for fuel sold or used after 2017. Lines 1 and 2
Cooperatives. A cooperative described in section
are now shown as "Reserved for future use" in case
1381(a) can elect to allocate any part of the biofuel
Congress extends the credit for 2018. To find out if
producer credit to patrons of the cooperative. The credit is
legislation extended the credit so you can claim it on your
allocated pro rata among the patrons eligible to share in
2018 return, go to IRS.gov/Extenders.
patronage dividends on the basis of the quantity or value
of business done with or for the patrons for the tax year.
General Instructions
If the cooperative is subject to the passive activity rules,
include on line 3 any Form 6478 credits from passive
Purpose of Form
activities disallowed for prior years and carried forward to
Partnerships, S corporations, cooperatives, estates, and
this year. Complete Form 8810, Corporate Passive
trusts must file this form to claim the credit. All other
Activity Loss and Credit Limitations, to determine the
taxpayers aren’t required to complete or file this form if
allowed producer credits that can be allocated to patrons.
their only source for this credit is a partnership, S
For details, see the Instructions for Form 8810.
corporation, cooperative, estate, or trust. Instead, they
The cooperative is deemed to have made the election
can report this credit directly on line 4c in Part III of Form
by completing line 5. However, the election isn’t effective
3800, General Business Credit.
unless:
Recapture of Credit
It’s made on a timely filed tax return (including
extensions), and
You must pay a tax (recapture) on each gallon of second
The cooperative designates the apportionment in a
generation biofuel at the rate you used to figure the credit
written notice or on Form 1099-PATR mailed to its patrons
if you don’t use the fuel for the purposes described under
during the payment period described in section 1382(d).
section 40(b)(6)(C). Report the tax on Form 720,
If the cooperative timely filed its return without making
Quarterly Federal Excise Tax Return.
an election, it can still make the election by filing an
amended return within 6 months of the due date of the
Specific Instructions
return (excluding extensions). Write “Filed pursuant to
section 301.9100-2” on the amended return.
Line 1 and Line 2
Once made, the election can’t be revoked.
These lines are reserved in case Congress extends the
Estates and trusts. Allocate the biofuel producer credit
credit to apply to fuel sold or used after December 31,
on line 4 between the estate or trust and the beneficiaries
2017. When using these lines to figure the amount on this
in the same proportion as income was allocated and enter
or other tax forms or worksheets, the amount in these
the beneficiaries’ share on line 5.
lines should be considered to be zero.
If the estate or trust is subject to the passive activity
Line 3
rules, include on line 3 any Form 6478 credits from
passive activities disallowed for prior years and carried
Enter total biofuel producer credits from:
forward to this year. Complete Form 8582-CR, Passive
Schedule K-1 (Form 1065), Partner’s Share of Income,
Activity Credit Limitations, to determine the allowed credit
Deductions, Credits, etc., box 15 (code I);
that must be allocated between the estate or trust and the
Schedule K-1 (Form 1120S), Shareholder’s Share of
beneficiaries. See the Instructions for Form 8582-CR.
Income, Deductions, Credits, etc., box 13 (code I);
Oct 01, 2018
Cat. No. 13606U
Paperwork Reduction Act Notice. We ask for the information on this form to carry out the Internal Revenue laws of the
United States. You’re required to give us the information. We need it to ensure that you’re complying with these laws and
to allow us to figure and collect the right amount of tax.
You aren’t required to provide the information requested on a form that’s subject to the Paperwork Reduction Act
unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be
retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax
returns and return information are confidential, as required by section 6103.
The time needed to complete and file this form will vary depending on individual circumstances. The estimated burden
for individual taxpayers filing this form is approved under OMB control number 1545-0074 and is included in the
estimates shown in the instructions for their individual income tax return. The estimated burden for all other taxpayers
who file this form is shown below.
Recordkeeping
2 hr., 9 min.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Learning about the law or the form
53 min.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Preparing and sending the form to the IRS
58 min.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler,
we’d be happy to hear from you. See the instructions for the tax return with which this form is filed.
-2-
Instructions for Form 6478 (2018)

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