Rev. 2023
Form 8900 is a tax form for reporting Qualified Railroad Track Maintenance expenditures and calculating related credits for the Internal Revenue Service (IRS). Taxpayers provide identifying information, report railroad track maintenance expenses, and calculate credit based on number of miles of owned or leased track. The form includes instructions and OMB No. 1545-1983. Partnerships and S corporations report the amount on Schedule K while others report it on Form 3800, Part III.
An assignee cannot reassign miles. The excess will be used to reduce each assignee's allocation in proportion to their original allocation of miles.
Form 8900 is used to report qualified railroad track maintenance credits to the Internal Revenue Service (IRS).
Only taxpayers who have qualified railroad track maintenance credit carryforwards or carrybacks from previous years are required to file Form 8900.
To make an assignment of miles on Form 8900, the assignor must provide the name and taxpayer identification number of each assignee and the total number of miles of eligible railroad track assigned by the assignor for the tax year to all assignees.
The assignee must attest that they have received in writing, and retained as part of their records for purposes of Regulations section 1.6001-1(a), the following information from each assignor: name, taxpayer identification number, and the effective date of each assignment (treated as being made by the assignor at the end of its tax year) to the assignee.
Form 8900 is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
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