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Issuer's name, employer identification number (EIN), interest payment date (MM/DD/YYYY) and report number. The instructions say these come from Form 8038-CP, lines 7, 8, 18 and 10.
8038-CP Sch. A
Specified Tax Credit Bonds Credit Computation
Schedule A (Form 8038-CP), Specified Tax Credit Bonds Credit Computation, is attached to Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds. The form says it is completed for Form 8038-CP, line 17c, bond types 102, 103, 104 and 105, and is used when claiming a credit under section 6431 for specified tax credit bonds: new clean renewable energy bonds (NCREBs), qualified energy conservation bonds (QECBs), qualified zone academy bonds (QZABs) and qualified school construction bonds (QSCBs).
The instructions say Schedule A computes the amount of the refundable credit payment allowed under former section 6431(f), bond by bond, which usually means a separate computation for each maturity in a bond issue. The total from line 3 goes on Form 8038-CP, line 19c. The instructions also say Schedule A eliminates the need for issuers of NCREBs and QECBs to file separate Forms 8038-CP for each maturity on each interest payment date.
This page has the December 2022 revision, which the instructions name as the version to use. The PDF can be filled out free in the browser on this page and downloaded without an account.
Issuer's name, employer identification number (EIN), interest payment date (MM/DD/YYYY) and report number. The instructions say these come from Form 8038-CP, lines 7, 8, 18 and 10.
Column (a) is the bond maturity date. Column (b) is the interest payable on that maturity on the line 18 date. Column (c) is the interest figured at the line 19b applicable credit rate.
The form says column (d), for NCREBs and QECBs, multiplies column (c) by 70% (0.70). Column (e) takes the smaller of (b) or (d) for NCREBs and QECBs, or the smaller of (b) or (c) for QZABs and QSCBs.
Line 1 totals column (e) on page 1, line 2 brings in the page 2 total, and line 3 adds them for Form 8038-CP, line 19c.
Page 2 repeats the table for more maturities, starting with the first maturity after the last row on page 1. Line 4 totals its column (e) for page 1, line 2.
Enter the issuer name from Part II, line 7, the EIN from line 8, the report number from line 10 and the interest payment date from Part III, line 18.
The instructions say to list the maturity date for each separate maturity. A maturity is bonds of the same type, principal maturity date and interest rate. Extra maturities go on page 2.
In column (b) enter the interest payable on that maturity on the line 18 date. In column (c) enter the interest that would be payable if figured at the line 19b applicable credit rate.
For NCREBs and QECBs, multiply column (c) by 0.70 in column (d) and enter the smaller of (b) or (d) in column (e). For QZABs and QSCBs, skip column (d) and enter the smaller of (b) or (c).
The instructions say that if page 2 is used, complete line 4 before lines 1, 2 and 3. Then total column (e) on line 1, carry line 4 to line 2, and add them on line 3.
Enter the line 3 amount on Form 8038-CP, line 19c. The instructions say to enter cents and not round to whole dollars.
You get the real form, filled in a browser tab, with nothing standing between you and the finished PDF.
The form says "Attach to Form 8038-CP." The instructions say to assemble the core form first, then Schedule A, then any attachments.
For fixed rate bonds, the instructions say Form 8038-CP is filed no later than 45 days before the relevant interest payment date and not earlier than 90 days before it. Variable rate bonds have their own timing rules.
The instructions say a filer required to file at least 10 returns of any type during the calendar year files Forms 8038-CP electronically starting in 2024. Others may file electronically voluntarily.
For paper returns, the instructions give this address: Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201-0050.
The instructions say to file a separate Form 8038-CP with a Schedule A for NCREBs, QECBs, QZABs and QSCBs, and that mixing bond types on one return could delay the credit payment.
The instructions say to use the December 2022 version of Schedule A with the January 2022 version of Form 8038-CP, and that a prior version could delay the credit payment.
8038-CP
59 fields, 1 page
8038-TC
225 fields, 5 pages
8038-B
92 fields, 2 pages
8038-T
60 fields, 1 page
8038
137 fields, 3 pages
The schedule is completed by a bond issuer as part of Form 8038-CP and goes to the IRS with that return. It is not an individual tax form.
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No. The form says to attach it to Form 8038-CP, and its line 3 total is entered on Form 8038-CP, line 19c.
The form says bond types 102, 103, 104 and 105 on Form 8038-CP, line 17c. The instructions list them as NCREBs, QECBs, QZABs and QSCBs.
The instructions say that for NCREBs and QECBs the credit payment is the lesser of 100% of the interest payable or 70% of the interest figured at the applicable credit rate. Column (d) applies that 70%.
No. The form says to skip column (d) for QZABs and QSCBs and enter the smaller of column (b) or (c) in column (e).
The instructions say to list the remaining maturities on page 2 and total them on line 4, which carries to page 1, line 2.
No. The Form 8038-CP instructions say to enter cents, not round to whole dollars, and round fractional cents down to the next lowest cent.