Form 6395i Fillable Passive Activity Limitation Instructions
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specified credits (from Form 6390 line 12b) (using the apportionment factor in the year generated) Attach 0405 6395i Rev 01/01/16 page 1 15 must be allocated to the credit baskets (general business 2015 Alaska Passive Activity Limitation 6100 or 6150 Under AS 43 20 021(d) where a credit allowed 6150 to claim such federal based credits 6150) less Alaska incentive credits allowed against regular tax 6390 line 4 a schedule of each credit by year generated and used Adoption Of The Internal Revenue Code Alaska income tax it is limited to 18% of the amount of credit Alaska property allowed credits amounts in this column on Form 6395 as indicated Anchorage: 907 269 6620 and eligible small business credits (at gross ) from Worksheet and judicial interpretations of the federal income tax law and pre 18%) and supports Form 6390 Alaska federal based credits This applicable ( gross ) AS 43 20 011 when calculating tax attributable amounts In as indicated These amounts are gross (pre apportionment attributable to passive activities that is not attributable to B and enter the results in column C These are the unallowed B below here and on Form 6390 line 21 basis Keep a record of these amounts so the credits can be basket before 18% limitation and before apportionment subject to the before tax limitation Complete Worksheets A and B below Both forms are required to be attached to Form 6000 6100 or carried to the next year Code Sections 1 1399 and 6001 7872 with full force and column A by the total of all credits in Column A The total of the Column A: Complete column A using amounts from Form 6395 Column A: Enter the amounts from Worksheet A column C by Column B: Divide the amount of each of the credit baskets in Column B: Enter amounts of previously unallowable passive Column C: Add columns A and B Carry these amounts to Column C: Multiply line 14 of Form 6395 by the ratios in column Column D: Subtract column C from column A These are credit basket credit for employer social security and Medicare taxes paid credits credits (at gross ) from Worksheet B below here and on Form credits for Alaska purposes credits specified credits and eligible small business credits) current year Department to apply as far as practicable the administrative determined for federal income tax purposes and apportioned does not adopt Internal Revenue Code Sections 1400 1400T effect unless excepted to or modified by provisions of Alaska explained in the instructions for line 7 of the federal Form 8810 federal based credits by basket at gross for special federal treatment under these code sections this Form 6390 is required to claim credits reported on Form 6395 Form 6395 Form 6395 limits federal based credits from passive activities form is required if such credits are to be claimed on Form 6000 general business credits GENERAL INSTRUCTIONS gov or call: if applicable If you have questions need additional information or require If You Need Help in certain geographic zones including those in Enterprise income and net active income by applying federal rules Instructions For Form 6395 instructions for Lines 2a and 2b above Instructions for Worksheet A below Instructions for Worksheet B below Juneau: 907 465 2320 law In addition AS 43 20 160 and AS 43 20 300 require the limitation limitation and apportionment if applicable ) limitation and apportionment) subject to the Alaska tax Line 11: Enter the unallowed passive activity credits from the Line 12: This is the amount of federal based credits (after 18% Line 13: Calculate the Alaska tax attributable to net passive line 14 must be allocated to the credit baskets (general business Line 14: The amount of unallowed passive activity credits on line 15 to an amount that is pre 18% and pre apportionment if Line 15: The amount of allowed passive activity credits on line Line 16: The purpose of line 16 is to gross up the credits on line 17 Line 17: Enter the amount of allowed passive general business line 18 Line 18: Enter the amount of allowed passive specified credits Line 2a: Alaska allows the federal investment credit only to Line 2b: Alaska does not allow credits for backup withholding line 3 line 6 Line 7: This amount is the total potential federal based credits Line 8: Enter the apportionment factor from the applicable Lines 5a 5c: These are federal specified credits from a may require that the taxpayer recompute some federal based Note that Alaska law does not adopt Internal Revenue Code on an as if Alaska basis Use the Alaska income tax rates in on certain employee tips and other federal credits that are tax On line 2a enter the amount of federal investment credit other assistance see the DOR s website at www tax alaska Other Related Forms passive activity that are not allowable for Alaska purposes See passive federal based credits at gross (pre apportionment passive federal based credits for 2015 and are on a gross place of federal income tax before credits use the Alaska previous years after the 18% limitation and post apportionment prior year Purpose of Form ratio ratios should equal 1 00 regular income tax (Schedule D line 7 of Form 6000 6100 or reimbursements See 15 AAC 20 145(f) Also note that Alaska reporting Schedule I from Form 6000 6100 or 6150 Sections 1400 1400T which grant tax benefit for activities SPECIFIC INSTRUCTIONS tax limitation the allowed credits for 2015 stated on a gross basis Enter the extent attributable to Alaska property See AS 43 20 036(b) The purpose of Worksheet A is to calculate the total potential The purpose of Worksheet B is to allocate allowable and This is done for each credit basket based on a ratio of credits to allocate the credits (The amount on line 14 is after 18% to allocate the credits (The amount on line 15 is after 18% total potential total potential credits totals unallowable passive federal based credits to each credit unallowed Under AS 43 20 021 Alaska adopts the Internal Revenue under the Internal Revenue Code is also allowed in computing which may affect allowable federal based credits Worksheet A to calculate total potential passive federal based credits Worksheet B column A Worksheet B to allocate allowed passive federal based credits Zones and Gulf Opportunity Zones If the taxpayer qualifies