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Tax Act 2011 Free

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Tax Act 2011 Free

Tax act 2011 free 8. Tax act 2011 free   Qualified Tuition Program (QTP) Table of Contents Introduction What Is a Qualified Tuition ProgramDesignated beneficiary. Tax act 2011 free Half-time student. Tax act 2011 free How Much Can You Contribute Are Distributions TaxableFiguring the Taxable Portion of a Distribution Additional Tax on Taxable Distributions Rollovers and Other TransfersRollovers Changing the Designated Beneficiary Introduction Qualified tuition programs (QTPs) are also called “529 plans. Tax act 2011 free ” States may establish and maintain programs that allow you to either prepay or contribute to an account for paying a student's qualified education expenses at a postsecondary institution. Tax act 2011 free Eligible educational institutions may establish and maintain programs that allow you to prepay a student's qualified education expenses. Tax act 2011 free If you prepay tuition, the student (designated beneficiary) will be entitled to a waiver or a payment of qualified education expenses. Tax act 2011 free You cannot deduct either payments or contributions to a QTP. Tax act 2011 free For information on a specific QTP, you will need to contact the state agency or eligible educational institution that established and maintains it. Tax act 2011 free What is the tax benefit of a QTP. Tax act 2011 free   No tax is due on a distribution from a QTP unless the amount distributed is greater than the beneficiary's adjusted qualified education expenses. Tax act 2011 free See Are Distributions Taxable , later, for more information. Tax act 2011 free    Even if a QTP is used to finance a student's education, the student or the student's parents still may be eligible to claim the American opportunity credit or the lifetime learning credit. Tax act 2011 free See Coordination With American Opportunity and Lifetime Learning Credits, later. Tax act 2011 free What Is a Qualified Tuition Program A qualified tuition program is a program set up to allow you to either prepay, or contribute to an account established for paying, a student's qualified education expenses at an eligible educational institution. Tax act 2011 free QTPs can be established and maintained by states (or agencies or instrumentalities of a state) and eligible educational institutions. Tax act 2011 free The program must meet certain requirements. Tax act 2011 free Your state government or the eligible educational institution in which you are interested can tell you whether or not they participate in a QTP. Tax act 2011 free Qualified education expenses. Tax act 2011 free   These are expenses related to enrollment or attendance at an Eligible educational institution (defined later). Tax act 2011 free As shown in the following list, to be qualified, some of the expenses must be required by the institution and some must be incurred by students who are enrolled at least half-time. Tax act 2011 free See Half-time student , later. Tax act 2011 free The following expenses must be required for enrollment or attendance of a Designated beneficiary (defined later) at an eligible educational institution. Tax act 2011 free Tuition and fees. Tax act 2011 free Books, supplies, and equipment. Tax act 2011 free Expenses for special needs services needed by a special needs beneficiary must be incurred in connection with enrollment or attendance at an eligible educational institution. Tax act 2011 free Expenses for room and board must be incurred by students who are enrolled at least half-time. Tax act 2011 free The expense for room and board qualifies only to the extent that it is not more than the greater of the following two amounts. Tax act 2011 free The allowance for room and board, as determined by the eligible educational institution, that was included in the cost of attendance (for federal financial aid purposes) for a particular academic period and living arrangement of the student. Tax act 2011 free The actual amount charged if the student is residing in housing owned or operated by the eligible educational institution. Tax act 2011 free You will need to contact the eligible educational institution for qualified room and board costs. Tax act 2011 free    For tax years after 2010, the purchase of computer technology or equipment is only a qualified education expense if the computer technology or equipment is required for enrollment or attendance at an eligible institution. Tax act 2011 free Designated beneficiary. Tax act 2011 free   The designated beneficiary is generally the student (or future student) for whom the QTP is intended to provide benefits. Tax act 2011 free The designated beneficiary can be changed after participation in the QTP begins. Tax act 2011 free If a state or local government or certain tax-exempt organizations purchase an interest in a QTP as part of a scholarship program, the designated beneficiary is the person who receives the interest as a scholarship. Tax act 2011 free Half-time student. Tax act 2011 free   A student is enrolled “at least half-time” if he or she is enrolled for at least half the full-time academic workload for the course of study the student is pursuing, as determined under the standards of the school where the student is enrolled. Tax act 2011 free Eligible educational institution. Tax act 2011 free   For purposes of a QTP, this is any college, university, vocational school, or other postsecondary educational institution eligible to participate in a student aid program administered by the U. Tax act 2011 free S. Tax act 2011 free Department of Education. Tax act 2011 free It includes virtually all accredited public, nonprofit, and proprietary (privately owned profit-making) postsecondary institutions. Tax act 2011 free The educational institution should be able to tell you if it is an eligible educational institution. Tax act 2011 free   Certain educational institutions located outside the United States also participate in the U. Tax act 2011 free S. Tax act 2011 free Department of Education's Federal Student Aid (FSA) programs. Tax act 2011 free   How Much Can You Contribute Contributions to a QTP on behalf of any beneficiary cannot be more than the amount necessary to provide for the qualified education expenses of the beneficiary. Tax act 2011 free There are no income restrictions on the individual contributors. Tax act 2011 free You can contribute to both a QTP and a Coverdell ESA in the same year for the same designated beneficiary. Tax act 2011 free   Are Distributions Taxable The part of a distribution representing the amount paid or contributed to a QTP does not have to be included in income. Tax act 2011 free This is a return of the investment in the plan. Tax act 2011 free The designated beneficiary generally does not have to include in income any earnings distributed from a QTP if the total distribution is less than or equal to adjusted qualified education expenses (defined under Figuring the Taxable Portion of a Distribution , later). Tax act 2011 free Earnings and return of investment. Tax act 2011 free    You will receive a Form 1099-Q, from each of the programs from which you received a QTP distribution in 2013. Tax act 2011 free The amount of your gross distribution (box 1) shown on each form will be divided between your earnings (box 2) and your basis, or return of investment (box 3). Tax act 2011 free Form 1099-Q should be sent to you by January 31, 2014. Tax act 2011 free Figuring the Taxable Portion of a Distribution To determine if total distributions for the year are more or less than the amount of qualified education expenses, you must compare the total of all QTP distributions for the tax year to the adjusted qualified education expenses. Tax act 2011 free Adjusted qualified education expenses. Tax act 2011 free   This amount is the total qualified education expenses reduced by any tax-free educational assistance. Tax act 2011 free Tax-free educational assistance includes: The tax-free part of scholarships and fellowships (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Pell grants (see Pell Grants and Other Title IV Need-Based Education Grants in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), and Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Tax act 2011 free Taxable earnings. Tax act 2011 free   Use the following steps to figure the taxable part. Tax act 2011 free Multiply the total distributed earnings shown in box 2 of Form 1099-Q by a fraction. Tax act 2011 free The numerator is the adjusted qualified education expenses paid during the year and the denominator is the total amount distributed during the year. Tax act 2011 free Subtract the amount figured in (1) from the total distributed earnings. Tax act 2011 free The result is the amount the beneficiary must include in income. Tax act 2011 free Report it on Form 1040 or Form 1040NR, line 21. Tax act 2011 free Example 1. Tax act 2011 free In 2007, Sara Clarke's parents opened a savings account for her with a QTP maintained by their state government. Tax act 2011 free Over the years they contributed $18,000 to the account. Tax act 2011 free The total balance in the account was $27,000 on the date the distribution was made. Tax act 2011 free In the summer of 2013, Sara enrolled in college and had $8,300 of qualified education expenses for the rest of the year. Tax act 2011 free She paid her college expenses from the following sources. Tax act 2011 free   Gift from parents $1,600     Partial tuition scholarship (tax-free) 3,100     QTP distribution 5,300           Before Sara can determine the taxable part of her QTP distribution, she must reduce her total qualified education expenses by any tax-free educational assistance. Tax act 2011 free   Total qualified education expenses $8,300     Minus: Tax-free educational assistance −3,100     Equals: Adjusted qualified  education expenses (AQEE) $5,200   Since the remaining expenses ($5,200) are less than the QTP distribution, part of the earnings will be taxable. Tax act 2011 free Sara's Form 1099-Q shows that $950 of the QTP distribution is earnings. Tax act 2011 free Sara figures the taxable part of the distributed earnings as follows. Tax act 2011 free   1. Tax act 2011 free $950 (earnings) × $5,200 AQEE  $5,300 distribution           =$932 (tax-free earnings)     2. Tax act 2011 free $950 (earnings)−$932 (tax-free earnings)     =$18 (taxable earnings)  Sara must include $18 in income (Form 1040, line 21) as distributed QTP earnings not used for adjusted qualified education expenses. Tax act 2011 free Coordination With American Opportunity and Lifetime Learning Credits An American opportunity or lifetime learning credit (education credit) can be claimed in the same year the beneficiary takes a tax-free distribution from a QTP, as long as the same expenses are not used for both benefits. Tax act 2011 free This means that after the beneficiary reduces qualified education expenses by tax-free educational assistance, he or she must further reduce them by the expenses taken into account in determining the credit. Tax act 2011 free Example 2. Tax act 2011 free Assume the same facts as in Example 1 , except that Sara's parents claimed an American opportunity credit of $2,500 (based on $4,000 expenses). Tax act 2011 free   Total qualified education expenses $8,300     Minus: Tax-free educational assistance −3,100     Minus: Expenses taken into account  in figuring American opportunity credit −4,000     Equals: Adjusted qualified  education expenses (AQEE) $1,200           The taxable part of the distribution is figured as follows. Tax act 2011 free   1. Tax act 2011 free $950 (earnings) × $1,200 AQEE  $5,300 distribution           =$215 (tax-free earnings)     2. Tax act 2011 free $950 (earnings)−$215 (tax-free earnings)     =$735 (taxable earnings)       Sara must include $735 in income (Form 1040, line 21). Tax act 2011 free This represents distributed earnings not used for adjusted qualified education expenses. Tax act 2011 free Coordination With Coverdell ESA Distributions If a designated beneficiary receives distributions from both a QTP and a Coverdell ESA in the same year, and the total of these distributions is more than the beneficiary's adjusted qualified higher education expenses, the expenses must be allocated between the distributions. Tax act 2011 free For purposes of this allocation, disregard any qualified elementary and secondary education expenses. Tax act 2011 free Example 3. Tax act 2011 free Assume the same facts as in Example 2 , except that instead of receiving a $5,300 distribution from her QTP, Sara received $4,600 from that account and $700 from her Coverdell ESA. Tax act 2011 free In this case, Sara must allocate her $1,200 of adjusted qualified higher education expenses (AQHEE) between the two distributions. Tax act 2011 free   $1,200 AQHEE × $700 ESA distribution  $5,300 total distribution = $158 AQHEE (ESA)     $1,200 AQHEE × $4,600 QTP distribution  $5,300 total distribution = $1,042 AQHEE (QTP)   Sara then figures the taxable portion of her Coverdell ESA distribution based on qualified higher education expenses of $158, and the taxable portion of her QTP distribution based on the other $1,042. Tax act 2011 free Note. Tax act 2011 free If you are required to allocate your expenses between Coverdell ESA and QTP distributions, and you have adjusted qualified elementary and secondary education expenses, see the examples in chapter 7, Coverdell Education Savings Account under Coordination With Qualified Tuition Program (QTP) Distributions . Tax act 2011 free Coordination With Tuition and Fees Deduction. Tax act 2011 free   A tuition and fees deduction can be claimed in the same year the beneficiary takes a tax-free distribution from a QTP, as long as the same expenses are not used for both benefits. Tax act 2011 free Losses on QTP Investments If you have a loss on your investment in a QTP account, you may be able to take the loss on your income tax return. Tax act 2011 free You can take the loss only when all amounts from that account have been distributed and the total distributions are less than your unrecovered basis. Tax act 2011 free Your basis is the total amount of contributions to that QTP account. Tax act 2011 free You claim the loss as a miscellaneous itemized deduction on Schedule A (Form 1040), line 23 (Schedule A (Form 1040NR), line 9), subject to the 2%-of-adjusted-gross-income limit. Tax act 2011 free If you have distributions from more than one QTP account during a year, you must combine the information (amount of distribution, basis, etc. Tax act 2011 free ) from all such accounts in order to determine your taxable earnings for the year. Tax act 2011 free By doing this, the loss from one QTP account reduces the distributed earnings (if any) from any other QTP accounts. Tax act 2011 free Example 1. Tax act 2011 free In 2013, Taylor received a final distribution of $1,000 from QTP #1. Tax act 2011 free His unrecovered basis in that account before the distribution was $3,000. Tax act 2011 free If Taylor itemizes his deductions, he can claim the $2,000 loss on Schedule A (Form 1040). Tax act 2011 free Example 2. Tax act 2011 free Assume the same facts as in Example 1 , except that Taylor also had a distribution of $9,000 from QTP #2, giving him total distributions for 2013 of $10,000. Tax act 2011 free His total basis in these distributions was $4,500 ($3,000 for QTP #1 and $1,500 for QTP #2). Tax act 2011 free Taylor's adjusted qualified education expenses for 2013 totaled $6,000. Tax act 2011 free In order to figure his taxable earnings, Taylor combines the two accounts and determines his taxable earnings as follows. Tax act 2011 free   1. Tax act 2011 free $10,000 (total distribution)−$4,500 (basis portion of distribution)     = $5,500 (earnings included in distribution)   2. Tax act 2011 free $5,500 (earnings) x $6,000 AQEE  $10,000 distribution           =$3,300 (tax-free earnings)     3. Tax act 2011 free $5,500 (earnings)−$3,300 (tax-free earnings)     =$2,200 (taxable earnings)                 Taylor must include $2,200 in income on Form 1040, line 21. Tax act 2011 free Because Taylor's accounts must be combined, he cannot deduct his $2,000 loss (QTP #1) on Schedule A (Form 1040). Tax act 2011 free Instead, the $2,000 loss reduces the total earnings that were distributed, thereby reducing his taxable earnings. Tax act 2011 free Additional Tax on Taxable Distributions Generally, if you receive a taxable distribution, you also must pay a 10% additional tax on the amount included in income. Tax act 2011 free Exceptions. Tax act 2011 free   The 10% additional tax does not apply to distributions: Paid to a beneficiary (or to the estate of the designated beneficiary) on or after the death of the designated beneficiary. Tax act 2011 free Made because the designated beneficiary is disabled. Tax act 2011 free A person is considered to be disabled if he or she shows proof that he or she cannot do any substantial gainful activity because of his or her physical or mental condition. Tax act 2011 free A physician must determine that his or her condition can be expected to result in death or to be of long-continued and indefinite duration. Tax act 2011 free Included in income because the designated beneficiary received: A tax-free scholarship or fellowship (see Tax-Free Scholarships and Fellowships in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Veterans' educational assistance (see Veterans' Benefits in chapter 1, Scholarships, Fellowships, Grants, and Tuition Reductions), Employer-provided educational assistance (see chapter 11, Employer-Provided Educational Assistance ), or Any other nontaxable (tax-free) payments (other than gifts or inheritances) received as educational assistance. Tax act 2011 free Made on account of the attendance of the designated beneficiary at a U. Tax act 2011 free S. Tax act 2011 free military academy (such as the USNA at Annapolis). Tax act 2011 free This exception applies only to the extent that the amount of the distribution does not exceed the costs of advanced education (as defined in section 2005(d)(3) of title 10 of the U. Tax act 2011 free S. Tax act 2011 free Code) attributable to such attendance. Tax act 2011 free Included in income only because the qualified education expenses were taken into account in determining the American opportunity or lifetime learning credit (see Coordination With American Opportunity and Lifetime Learning Credits , earlier. Tax act 2011 free ) Exception (3) applies only to the extent the distribution is not more than the scholarship, allowance, or payment. Tax act 2011 free Figuring the additional tax. Tax act 2011 free    Use Part II of Form 5329, to figure any additional tax. Tax act 2011 free Report the amount on Form 1040, line 58, or Form 1040NR, line 56. Tax act 2011 free Rollovers and Other Transfers Assets can be rolled over or transferred from one QTP to another. Tax act 2011 free In addition, the designated beneficiary can be changed without transferring accounts. Tax act 2011 free Rollovers Any amount distributed from a QTP is not taxable if it is rolled over to another QTP for the benefit of the same beneficiary or for the benefit of a member of the beneficiary's family (including the beneficiary's spouse). Tax act 2011 free An amount is rolled over if it is paid to another QTP within 60 days after the date of the distribution. Tax act 2011 free Do not report qualifying rollovers (those that meet the above criteria) anywhere on Form 1040 or 1040NR. Tax act 2011 free These are not taxable distributions. Tax act 2011 free Members of the beneficiary's family. Tax act 2011 free   For these purposes, the beneficiary's family includes the beneficiary's spouse and the following other relatives of the beneficiary. Tax act 2011 free Son, daughter, stepchild, foster child, adopted child, or a descendant of any of them. Tax act 2011 free Brother, sister, stepbrother, or stepsister. Tax act 2011 free Father or mother or ancestor of either. Tax act 2011 free Stepfather or stepmother. Tax act 2011 free Son or daughter of a brother or sister. Tax act 2011 free Brother or sister of father or mother. Tax act 2011 free Son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or sister-in-law. Tax act 2011 free The spouse of any individual listed above. Tax act 2011 free First cousin. Tax act 2011 free Example. Tax act 2011 free When Aaron graduated from college last year he had $5,000 left in his QTP. Tax act 2011 free He wanted to give this money to his younger brother, who was in junior high school. Tax act 2011 free In order to avoid paying tax on the distribution of the amount remaining in his account, Aaron contributed the same amount to his brother's QTP within 60 days of the distribution. Tax act 2011 free If the rollover is to another QTP for the same beneficiary, only one rollover is allowed within 12 months of a previous transfer to any QTP for that designated beneficiary. Tax act 2011 free Changing the Designated Beneficiary There are no income tax consequences if the designated beneficiary of an account is changed to a member of the beneficiary's family. Tax act 2011 free See Members of the beneficiary's family , earlier. Tax act 2011 free Example. Tax act 2011 free Assume the same situation as in the last example. Tax act 2011 free Instead of closing his QTP and paying the distribution into his brother's QTP, Aaron could have instructed the trustee of his account to simply change the name of the beneficiary on his account to that of his brother. Tax act 2011 free Prev  Up  Next   Home   More Online Publications
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The Tax Act 2011 Free

Tax act 2011 free 4. Tax act 2011 free   General Business Credits Table of Contents Introduction Useful Items - You may want to see: Business Credits How To Claim the Credit Introduction Your general business credit for the year consists of your carryforward of business credits from prior years plus the total of your current year business credits. Tax act 2011 free In addition, your general business credit for the current year may be increased later by the carryback of business credits from later years. Tax act 2011 free You subtract this credit directly from your tax. Tax act 2011 free Useful Items - You may want to see: Form (and Instructions) 3800 General Business Credit 6251 Alternative Minimum Tax—Individuals See chapter 12 for information about getting publications and forms. Tax act 2011 free Business Credits All of the following credits are part of the general business credit. Tax act 2011 free The form you use to figure each credit is shown in parentheses. Tax act 2011 free You will also have to complete Form 3800. Tax act 2011 free Alternative fuel vehicle refueling property credit (Form 8911). Tax act 2011 free   This credit applies to the cost of any qualified fuel vehicle refueling property you placed in service. Tax act 2011 free For more information, see Form 8911. Tax act 2011 free Alternative motor vehicle credit (Form 8910). Tax act 2011 free   For more information, see Form 8910. Tax act 2011 free Biodiesel and renewable diesel fuels credit (Form 8864). Tax act 2011 free   For more information, see Form 8864. Tax act 2011 free Biofuel producer credit (Form 6478). Tax act 2011 free    For more information, see Form 6478. Tax act 2011 free Carbon dioxide sequestration credit (Form 8933). Tax act 2011 free   This credit is for carbon dioxide which is captured at a qualified facility and disposed of in a secure geological storage or used in a qualified enhanced oil or natural gas recovery project. Tax act 2011 free For more information, see Form 8933. Tax act 2011 free Credit for employer social security and Medicare taxes paid on certain employee tips (Form 8846). Tax act 2011 free   This credit is generally equal to your (employer's) portion of social security and Medicare taxes paid on tips received by employees of your food and beverage establishment where tipping is customary. Tax act 2011 free The credit applies regardless of whether the food is consumed on or off your business premises. Tax act 2011 free For more information, see Form 8846. Tax act 2011 free Credit for employer differential wage payments (Form 8932). Tax act 2011 free   This credit provides certain small businesses with an incentive to continue to pay wages to an employee performing services on active duty in the uniformed services of the United States for a period of more than 30 days. Tax act 2011 free For more information, see Form 8932. Tax act 2011 free Credit for employer-provided childcare facilities and services (Form 8882). Tax act 2011 free   This credit applies to the qualified expenses you paid for employee childcare and qualified expenses you paid for childcare resource and referral services. Tax act 2011 free For more information, see Form 8882. Tax act 2011 free Credit for increasing research activities (Form 6765). Tax act 2011 free   This credit is designed to encourage businesses to increase the amounts they spend on research and experimental activities, including energy research. Tax act 2011 free For more information, see Form 6765. Tax act 2011 free Credit for small employer health insurance premiums (Form 8941). Tax act 2011 free   This credit applies to the cost of certain health insurance coverage you provide to certain employees. Tax act 2011 free For more information, see Form 8941. Tax act 2011 free Credit for small employer pension plan startup costs (Form 8881). Tax act 2011 free   This credit applies to pension plan startup costs of a new qualified defined benefit or defined contribution plan (including a 401(k) plan), SIMPLE plan, or simplified employee pension. Tax act 2011 free For more information, see Publication 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans). Tax act 2011 free Disabled access credit (Form 8826). Tax act 2011 free   This credit is a nonrefundable tax credit for an eligible small business that pays or incurs expenses to provide access to persons who have disabilities. Tax act 2011 free You must pay or incur the expenses to enable your business to comply with the Americans with Disabilities Act of 1990. Tax act 2011 free For more information, see Form 8826. Tax act 2011 free Distilled spirits credit (Form 8906). Tax act 2011 free   This credit is available to distillers and importers of distilled spirits and eligible wholesalers of distilled spirits. Tax act 2011 free For more information, see Form 8906. Tax act 2011 free Empowerment zone employment credit (Form 8844). Tax act 2011 free   You may qualify for this credit if you have employees and are engaged in a business in an empowerment zone for which the credit is available. Tax act 2011 free For more information, see Form 8844. Tax act 2011 free Energy efficient appliance credit (Form 8909). Tax act 2011 free   This credit is available for manufacturers of eligible appliances. Tax act 2011 free For more information, see Form 8909. Tax act 2011 free Energy efficient home credit (Form 8908). Tax act 2011 free   This credit is available for eligible contractors of certain homes sold for use as a residence. Tax act 2011 free For more information, see Form 8908. Tax act 2011 free Indian employment credit (Form 8845). Tax act 2011 free   This credit applies to qualified wages and health insurance costs you paid or incurred for qualified employees. Tax act 2011 free For more information, see Form 8845. Tax act 2011 free Investment credit (Form 3468). Tax act 2011 free   The investment credit is the total of the following credits. Tax act 2011 free Rehabilitation credit. Tax act 2011 free Energy credit. Tax act 2011 free Qualifying advanced coal project credit. Tax act 2011 free Qualifying gasification project credit. Tax act 2011 free Qualifying advanced energy project credit. Tax act 2011 free   For more information, see Form 3468. Tax act 2011 free Low sulfur diesel fuel production credit (Form 8896). Tax act 2011 free    For more information, see Form 8896. Tax act 2011 free Low-income housing credit (Form 8586). Tax act 2011 free   This credit generally applies to each new qualified low-income building placed in service after 1986. Tax act 2011 free For more information, see Form 8586. Tax act 2011 free Mine rescue team training credit (Form 8923). Tax act 2011 free   This credit applies to training program costs you pay or incur for certain mine rescue team employees. Tax act 2011 free For more information, see Form 8923. Tax act 2011 free New markets credit (Form 8874). Tax act 2011 free   This credit is for qualified equity investments made in qualified community development entities. Tax act 2011 free For more information, see Form 8874. Tax act 2011 free Nonconventional source fuel credit (Form 8907). Tax act 2011 free   This credit is for qualified coke and coke gas you produced and sold to an unrelated person during the tax year. Tax act 2011 free For more information, see Form 8907. Tax act 2011 free Orphan drug credit (Form 8820). Tax act 2011 free   This credit applies to qualified expenses incurred in testing certain drugs for rare diseases and conditions. Tax act 2011 free For more information, see Form 8820. Tax act 2011 free Qualified plug-in electric drive motor vehicle credit (Form 8936). Tax act 2011 free   This credit is for certain new qualified plug-in electric vehicles placed in service during the tax year. Tax act 2011 free For more information, see Form 8936. Tax act 2011 free Qualified railroad track maintenance credit (Form 8900). Tax act 2011 free   This credit applies with respect to qualified railroad track maintenance expenditures paid or incurred during the tax year. Tax act 2011 free For more information, see Form 8900. Tax act 2011 free Renewable electricity, refined coal, and Indian coal production credit (Form 8835). Tax act 2011 free   This credit is for the sale of electricity, refined coal, or Indian coal produced in the United States or U. Tax act 2011 free S. Tax act 2011 free possessions from qualified energy resources at a qualified facility. Tax act 2011 free For more information, see Form 8835. Tax act 2011 free Work opportunity credit (Form 5884). Tax act 2011 free   This credit provides businesses with an incentive to hire individuals from targeted groups that have a particularly high unemployment rate or other special employment needs. Tax act 2011 free For more information, see Form 5884. Tax act 2011 free How To Claim the Credit To claim a general business credit, you will first have to get the forms you need to claim your current year business credits. Tax act 2011 free In addition to the credit form, you also need to file Form 3800. Tax act 2011 free Prev  Up  Next   Home   More Online Publications