General Business Credit – Form 3800
The general business credit (Form 3800) is made up of many other credits, like:
- Investment credit (Form 3468)
- Low-income housing credit (Form 8586)
- Disabled access credit (Form 8826)
The investment credit is also made up of several different credits. You’ll figure each sub-investment credit separately.
Complete Form 3800 and the source credit form for each specific credit you claim. However, you might not need to complete the source credit form for some credits if both of these apply:
- You claim the credit on Form 3800, Part III.
- The source of the credit is from a pass-through entity.
You should also complete it if you’re claiming a credit carryover or carryback to the current year.
The general business credit can’t be more than the result of this formula:
- Add your net regular tax and your Alternative Minimum Tax (AMT).
- From that amount, subtract the greater of:
- Your tentative minimum tax for the tax year
- 25% of the amount of your regular tax liability that’s more than $25,000
To learn more, see Publication 334: Tax Guide for Small Business at www.irs.gov.
Can you claim a non-child relative as a dependent and does it count as a qualifying relative? Learn more about your tax questions from H&R Block.
Don't worry if you made a mistake on your tax return - you can have it amended to correct the error. Learn how to file an amended tax return at H&R Block.
Learn what to do if someone used your dependent's social security number on their taxes with advice from the tax experts at H&R Block.
Looking for Massachusetts state tax rates? Get your questions about Massachusetts tax brackets answered with help from the experts at H&R Block.