8912 Credit to Holders of Tax Credit Bonds

Caution: DRAFT—NOT FOR FILING
This is an early release draft of an IRS tax form, instructions, or publication,
which the IRS is providing for your information as a courtesy. Do not file
draft forms. Also, do not rely on draft instructions and publications for
filing. We generally do not release drafts of forms until we believe we have
incorporated all changes. However, unexpected issues sometimes arise, or
legislation is passed, necessitating a change to a draft form. In addition,
forms generally are subject to OMB approval before they can be officially
released. Drafts of instructions and publications usually have at least some
changes before being officially released.
Early releases of draft forms and instructions are at IRS.gov/draftforms.
Please note that drafts may remain on IRS.gov even after the final release is
posted at IRS.gov/downloadforms, and thus may not be removed until there
is a new draft for the subsequent revision. All information about all revisions
of all forms, instructions, and publications is at IRS.gov/formspubs.
Almost every form and publication also has its own easily accessible
information page on IRS.gov. For example, the Form 1040 page is at
IRS.gov/form1040; the Form W-2 page is at IRS.gov/w2; the Publication 17
page is at IRS.gov/pub17; the Form W-4 page is at IRS.gov/w4; the Form
8863 page is at IRS.gov/form8863; and the Schedule A (Form 1040) page is
at IRS.gov/schedulea. If typing in the links above instead of clicking on
them: type the link into the address bar of your browser, not in a Search box;
the text after the slash must be lowercase; and your browser may require the
link to begin with “www.”. Note that these are shortcut links that will
automatically go to the actual link for the page.
If you wish, you can submit comments about draft or final forms,
instructions, or publications on the Comment on Tax Forms and Publications
page on IRS.gov. We cannot respond to all comments due to the high
volume we receive, but we will carefully consider each one. Please note that
we may not be able to consider many suggestions until the subsequent
revision of the product.

Form

8912

Department of the Treasury
Internal Revenue Service
Name(s) shown on return

Part I

OMB No. 1545-2025

Credit to Holders of Tax Credit Bonds

2016

▶ Attach to your tax return.

Attachment
▶ Information about Form 8912 and its separate instructions is at www.irs.gov/form8912.
Sequence No. 154
Identifying number

DRAFT AS OF
August 11, 2016
DO NOT FILE
Current Year Credit

1

Bond credit(s) from Part III. Enter the amount from line 14 (see instructions) .

.

.

.

.

.

.

.

1

2

Bond credit(s) from Part IV. Enter the amount from line 20 (see instructions) .

.

.

.

.

.

.

.

2

3

Carryforward of credits for qualified tax credit bonds and build America bonds to 2016 (see
instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

4

Total credit. Add lines 1 through 3. Estates and trusts figuring the credit for a clean renewable
energy bond, go to line 5; Partnerships and S corporations, report this amount on Schedule K
(You must also issue Form(s) 1097-BTC. See Form 1097-BTC and its instructions.); all others, go
to Part II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Amount allocated to the beneficiaries of the estate or trust. (You must also issue Form(s)
1097-BTC. See Form 1097-BTC and its instructions.) (see instructions) . . . . . . . . .

5

6

Estates and trusts. Subtract line 5 from line 4. Use this amount to complete Part II

Part II
7

8

9
10a
b
c
d

.

.

.

.

.

4
5
6

Allowable Credit

Regular tax before credits:
• Individuals. Enter the sum of the amounts from Form 1040, lines 44 and 46; or the sum of the
amounts from Form 1040NR, lines 42 and 44 . . . . . . . . . . . . . . . .
• Corporations. Enter the amount from Form 1120, Schedule J, Part I, line 2; or the applicable
line of your return . . . . . . . . . . . . . . . . . . . . . . . . .
• Estates and trusts. Enter the sum of the amounts from Form 1041, Schedule G, lines 1a and
1b; or the amount from the applicable line of your return . . . . . . . . . . . .

}

Alternative minimum tax:
• Individuals. Enter the amount from Form 6251, line 35. . . . . . . .
• Corporations. Enter the amount from Form 4626, line 14 . . . . . . .
• Estates and trusts. Enter the amount from Schedule I (Form 1041), line 56 .

.
.
.

.
.
.

.
.
.

.
.
.

.
.
.

}

8

Add line 7 and line 8

.

.

.

.

.

.

.

9

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

Foreign tax credit . . . . . . . . . . . . . .
Certain allowable credits (see instructions) . . . . . .
General business credit (see instructions) . . . . . .
Credit for prior year minimum tax (Form 8801 or Form 8827)

.
.
.
.

.
.
.
.

.
.
.
.

.
.
.
.

Add lines 10a through 10d .

.

.

7

10a
10b
10c
10d

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

10e

11

Net income tax. Subtract line 10e from line 9 .

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

11

12

Credit to holders of tax credit bonds allowed for the current year. Enter the smallest of line 4,
line 11, or the amount as limited by the formula in the instructions for line 12. (If line 12 is smaller
than line 4, see instructions.) Estates and trusts, enter the smallest of line 6, line 11, or the
amount as limited by the formula in the instructions for line 12. (If line 12 is smaller than line 6, see
instructions.) Report this amount on Form 1040, line 54 or Form 1040NR, line 51; Form 1120,
Schedule J, line 5e; Form 1041, Schedule G, line 2d; or the applicable line of your return
. . .

12

e

.

.

.

.

.

For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 37722B

Form 8912 (2016)

Page 2

Form 8912 (2016)
Identifying number

Name(s) shown on return

Part III

Bond credit(s) reported to you on Form(s) 1097-BTC (see instructions)
If you are claiming a bond credit for which you did not receive a Form 1097-BTC, complete Part IV.

(a) Name of issuer of Form(s) 1097-BTC

13

14

(b1) Identifying number
of issuer of Form(s)
1097-BTC

(b2) Unique identifier
(see instructions)

(c) Amount reported on
Form(s) 1097-BTC
(see instructions)

DRAFT AS OF
August 11, 2016
DO NOT FILE

Total. Combine the amounts in column (c). Enter here and on line 1 .

.

.

.

.

.

.

.

.

14
Form 8912 (2016)

Page 3

Form 8912 (2016)
Identifying number

Name(s) shown on return

Part IV

16
17

a
b
a
b

Bond Issuer's name, city or town, and state
Bond Issuer's employer identification number
Date bond issued
Date bond matures
Date bond disposed of (if applicable)

DRAFT AS OF
August 11, 2016
DO NOT FILE

(a) CUSIP number. If CUSIP number
not issued, enter principal payment
dates. (Clean renewable energy bonds:
Include CUSIP number and principal
payment dates. Build America bonds:
Include CUSIP number and interest
payment dates.)

18

▲▲▲▲▲

15

Bond credit(s) from bonds held by you and/or your nominee(s) not reported to you on
Form(s) 1097-BTC (see instructions)

(b) Outstanding bond
principal (or for build
America bonds,
interest payable)

(c) Credit rate

(e) %

(d) Multiply
(b) x (c)

19

Add the amounts on line 18, column (f) .

20

For a new clean renewable energy bond or a qualified energy conservation bond, multiply the
amount on line 19 by 70% (.70) and enter the result here. For a clean renewable energy bond,
qualified zone academy bond, qualified school construction bond, or build America bond, enter the
amount from line 19 here. Enter the line 20 amount on line 2. See the instructions for how to report
as interest income . . . . . . . . . . . . . . . . . . . . . . . . . . .

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

(f) Multiply (d) x (e)

19

20
Form 8912 (2016)