Last Updated : January 14, 2009
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8900

Form 8900

Qualified Railroad Track Maintenance Credit.

PURPOSE OF THE FORM :
Use form 8900 to claim the railroad track maintenace credit (RTMC) with respect to Qualified Railroad track maintenace expenditures (QRTME) paid or incurred during the tax year. If you are assignor with respect to miles of eligible railroad track , you must file FOrm 8900 even if you do not claim any RTMC.

ELIGIBLE TAXPAYERS:

  • Any class II or Class III railroad , as these terms are defined by the Surface Transportation Board (STB).
  • Any person (including a Class I railroad who transports property using the rail facilities of a Class II or Class III railroad.
  • Any person (including a Class I railroad who furnishes rail road related services or property to a class II or Class III railroad.

    FOR more definations refer instruction PDF.

Line 1:
Enter on this line your Qualified railroad rack maintenance expenditures paid or incurred during the taxyear.
The payment by an eligible taxpayer, as an assignee , to a class II or class III railroad, as an asssignor , in exchange for an assignment of miles of eligible railroad track for purposes of the credit computation is treated as QRTME paid or incurred by the assignee and not the assignor.

Line 2:
THe program calculates 50% of line 1 if line 1 is greater than zero.

Line 3a:
Enter on this line the number of eligible railroad track miles owned or leased by you. This line only applies if you are a class II or class III railroad.

Line 3b:
Enter on this line the number of miles of eligible railroad track that are not included on line 3a that you assigned to another eligible taxpayer for purposes of the credit computation. Each mile of rail road track that you assign is treated as being assigned on the last day of your tax year.
In the statement attached following details need to be provided for the taxyear for which the assignment is made.

  • The name and taxpayer identification number of each assignee.
  • The total no. of miles of the assignor's eligible railroad track.
  • The no. of miles of eligible railroad track assigned by the assignor for the tax year to the assignee.
  • The total no. of miles of eligible railroad track assigned by the assignor for the tax year to all assignees.

Line 3c:
Enter on this line the total no. of miles of eligible railroad track assigned to the assignee for assignee's tax year.
In the statement attached following details need to be provided for the taxyear for which the assignment is made.

  • The name and taxpayer identification no. of assignor.
  • The effective date of each assignment (treated as being made by the assignor at the end of its tax year) to the assignee.

Line 3d:
The program adds line 3a , line 3b , and line 3c.

Line 4:
The program multiplies line 3d total by $3500 and enters the result on this line.

Line 5:
The program enters smaller of line 2 or line 4 on this line.

Line 6:
The amount on this line comes from schedule K-1P/S and schedule K-1ET line named credit for Qualified railroad track maintenance.

Line 7:
The program adds line 5 and line 6. This is current year credit and this line is reported on form 3800.

Supported States

Supported States

Federal CA CO CT GA
IL MD MI NC NM NJ
NY OH PA SC VT
     

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