Use Form 6478 to figure section 40 biofuel producer credit for tax years beginning after 2017. You claim the credit for the tax year in which the sale or use occurs. The credit consists of the second generation biofuel producer credit. You may claim or elect not to claim the biofuel producer credit at any time within 3 years from the due date of your return (determined without regard to extensions) on either an original or an amended return for the tax year of the sale or use. Partnerships, S corporations, cooperatives, estates, and trusts must file this form to claim the credit. All other taxpayers aren’t required to complete or file this form if their only source for this credit is a partnership, S-corporation, cooperative, estate, or trust. Instead, they can report this credit directly on the appropriate line of Form 3800, General Business Credit.
To access Form 6478 in TaxSlayer Pro, from the main menu of the 1040 select:
- General Business Credits
- Current Year General Business Credits