Form 8859 PDF Details

Form 8859 is an IRS form that is used to report either estate or gift tax on certain transactions. The form is two pages long, and it requests a variety of information about the taxpayer and the transaction. Some of the questions on the form ask for the date of death of the decedent, the value of the property transferred, and the mailing address of both the recipient and donor. Anyone who has a taxable estate or gifts must file Form 8859. The due date for filing this form is April 15th following the year in which the taxable event occurred. However, if you are prevented from filing on time due to a natural disaster or other unforeseen event, you may be granted an automatic extension until October 15th. Form 8859 must be filed even if no tax is owed. So whether you're required to file this form or not, it's important to understand what it is and how it works. With that in mind, let's take a closer look at Form 8859.

QuestionAnswer
Form NameForm 8859
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesform 8859 instructions, 8859 form, 2555-EZ, irs form 8859

Form Preview Example

Form 8859

District of Columbia First-Time

 

OMB No. 1545-0074

Homebuyer Credit

 

2012

 

 

Department of the Treasury

▶ Information about Form 8859 and its instructions is at www.irs.gov/form8859.

 

Attachment

Internal Revenue Service

▶ Attach to Form 1040 or Form 1040NR.

 

Sequence No. 106

Name(s) shown on return

 

Your social security number

 

 

 

 

Before You Begin:

•The District of Columbia first-time homebuyer credit has expired for homes purchased after 2011. In 2012, you can only claim a carryforward of the unused credit from 2011.

•Figure the amounts of any of the following credits you are claiming: Adoption credit, mortgage interest credit, qualified plug-in electric vehicle credit, alternative motor vehicle credit, qualified plug-in electric drive motor vehicle credit, and credit for the elderly or disabled.

Part I

Reserved

 

 

AReserved

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

▲

B Reserved

C Reserved

 

 

 

D Reserved

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reserved

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part II

Reserved

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1

Reserved

. . . . . . . . . .

1

 

 

 

 

 

 

2

Reserved

 

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

Reserved

 

 

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

Reserved

. . . . . . . . . .

4

×

.

 

5

Reserved

. . . . . . . . . .

5

 

 

 

6

Reserved

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6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part III

Credit Carryforward From 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7

Enter the amount from line 10 of your 2011 Form 8859 . .

. . . . . . . . . .

7

 

 

 

 

Tax Liability Limit

 

 

 

 

 

 

 

 

 

 

Part IV

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8

Limitation based on tax liability. Enter the amount from the Tax Liability Limit

 

 

 

 

 

Worksheet in the instructions

. . . . . . . . . .

8

 

 

 

9

Current year credit. Enter the smaller of line 7 or line 8. Also include this amount on

 

 

 

 

 

 

 

 

 

Form 1040, line 53, or Form 1040NR, line 50. Check box c on that line and enter

 

 

 

 

 

“8859” in the space next to that box

. . . . . . . . . .

9

 

 

 

 

 

 

 

 

 

 

10

Credit carryforward to 2013. Subtract line 9 from line 7 .

. . . . . . . . . .

10

 

 

 

For Paperwork Reduction Act Notice, see your tax return instructions.

 

 

 

Cat. No. 24779G

 

Form 8859 (2012)

Form 8859 (2012)

Page 2

 

 

General Instructions

Section references are to the Internal Revenue Code.

Future Developments

For the latest information about developments related to Form 8859 and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form8859.

What's New

The District of Columbia first-time homebuyer credit has expired for homes purchased after 2011. In 2012, you can only claim a carryforward of the unused credit from 2011.

Purpose of Form

Use Form 8859 to claim a carryforward of the District of Columbia first-time homebuyer credit from 2011.

Parts I and II

When using lines 1 - 6 to figure amounts on other forms or worksheets, these lines should be considered to be zero. The lines in these parts have been reserved in case Congress extends the credit for homes purchased in 2012.

Line 8

Complete the following worksheet to determine the amount to enter on line 8 of Form 8859.

Tax Liability Limit Worksheet—Line 8

1.Enter the amount from Form 1040,

line 46; or Form 1040NR, line 44 . 1.

2.Form 1040 filers: Enter the total of any amounts from Form 1040, lines 47 through 50; line 12 of the Line 11 Worksheet in Pub. 972*, Form 5695, line 32; Form 8396, line 9; Form 8834, line 23; Form 8839, line 12; Form 8910, line 22; Form 8936, line 23; and Schedule R (Form 1040A or 1040), line 22.

Form 1040NR filers: Enter the total of the amounts from Form 1040NR, lines 45 through 47; line 12 of the Line 11 Worksheet in Pub. 972*; Form 5695, line 32; Form 8396, line 9; Form 8834, line 23; Form 8839, line 12; Form 8910, line 22; and

Form 8936, line 23 . . . . . . 2.

3.Subtract line 2 from line 1. Enter this amount on Form 8859, line 8. If zero or less, enter -0- here and on Form

8859, lines 8 and 9 . . . . . . 3.

*If you are not claiming the child tax credit, you do not need Pub. 972.

Line 10

Any unused credit shown on line 10 can be carried forward until it has been used. You cannot carry the unused credit back to prior years.

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Step # 1 in filling out 2010

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Reserved, Limitation based on tax liability, and Part IV inside 2010

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