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IRS Form 8904 Credit for Oil and Gas Production From Marginal Wells
What Is IRS Form 8904?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on December 1, 2018. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 8904?
A: IRS Form 8904 is a tax form used to claim the Credit for Oil and Gas Production From Marginal Wells.
Q: Who can use IRS Form 8904?
A: This form can be used by taxpayers who have income from the production of oil or gas from marginal wells.
Q: What is the Credit for Oil and Gas Production From Marginal Wells?
A: The Credit for Oil and Gas Production From Marginal Wells is a tax credit available to qualifying taxpayers who produce oil or gas from marginal wells.
Q: What are marginal wells?
A: Marginal wells are oil or gas wells with low production levels, often located in economically less attractive areas.
Q: How is the credit calculated?
A: The credit is calculated based on the qualified production from marginal wells and is subject to certain limitations and requirements.
Q: Can I carry forward unused credits?
A: Yes, unused credits can be carried forward to future years.
Q: Is there a deadline for filing IRS Form 8904?
A: The form must be filed with your annual tax return by the due date, typically April 15th.
Q: Do I need to attach any additional documentation?
A: Yes, you may need to attach supporting documentation such as production records and schedules.
Form Details:
- A 1-page form available for download in PDF;
- Actual and valid for filing 2023 taxes;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 8904 through the link below or browse more documents in our library of IRS Forms.
