How to Prepare IRS Form 3800
IRS Form 3800 is a summary form on which allowable business credits are aggregated before entering the total on your primary tax return. Various business tax credits, such as investment credit, may entitle you to claim them on Form 3800. Since the allowable general business credit is limited to the amount of your tax liability for the year, there may be unused credits which can be carried back or carried forward to future years.
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Instructions
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1
Download Form 3800 General Business Credit from the IRS website.
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2
Review the various credits shown on Form 3800 to determine which credits apply to your business. Then download those additional credit forms.
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3
Prepare the separate credit forms that you qualify for and enter the credit amount for each one on the appropriate line on Form 3800. Investment credit amounts are included on Line 1a of the form and other credits are listed thereafter.
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4
Total the separate credit lines on Line 2 of Form 3800. Subtract any passive activity credits on Line 3 for any business where you do not materially participate or they are for rental activities, and add any allowed passive activity credits.
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5
Add any carry-forward of general business credits from a prior year on Line 6 and any carry-back from the subsequent year on Line 7. The result on Line 8 of the form is your current year credit.
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6
Complete the remainder of Form 3800 which limits the allowable business credit to the amount of your regular tax liability.
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7
Attach the Form 3800 to your income tax return when it is filed.
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