To figure the business/investment use part of the total cost, multiply the cost of each separate refueling property by the percentage of business/investment use for that property. If during the tax year you convert property used solely for personal purposes to business/investment use (or vice versa), figure the percentage of business/investment use only for the number of months you use the property in your business or for the production of income. Multiply that percentage by the number of months you use the property in your business or for the production of income and divide the result by 12.
Enter any Section 179 expense deduction you took for the property from Part I of Form 4562, Depreciation and Amortization.
If you placed refeuling property with business/investment use in service at just one location, enter $30,000,
If you placed refueling property with business/investment use in service at more than one location, but all property placed in service at any one location would result in an amount of not more than $30,000 if property from that location was reported separately on line 5, enter the amount from line 5 on both line 6 and line 7. If you placed refueling property with business/investment use in service at more than one location, and property at at least one location would result in an amount of more than $30,000 if property from that location was reported separately on line 5, add the separate amounts for each location, but don’t include in the total more than $30,000 for any single location.
Enter total alternative fuel vehicle refueling property credits from:
Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc., box 15 (code P); and
Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc., box 13 (code P).
Partnerships and S corporations must always report the above credits on line 8. All other filers figuring a separate credit on earlier lines must also report the above credits on line 8. All others not using earlier lines to figure a separate credit can report the above credits directly on Form 3800, Part III, line 1s.
Generally, enter $1,000. However, if the location of your main home changed during the tax year and you placed personal use refueling property in service at both locations during the tax year, enter $2,000.
Follow the instructions below and refer to your 2016 income tax return to figure the amount to enter on line 15b.
Although you may not owe alternative minimum tax (AMT), you must still figure the tentative minimum tax (TMT) to figure your credit. Complete and attach the applicable AMT form or schedule and enter the TMT on line 17.
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