Purpose of Form

Use Form 8933 to claim the section 45Q carbon oxide sequestration credit. See Definitions , later.

For purposes of this form, a partner in a partnership that has made a valid section 761(a) election will be considered the taxpayer. Partnerships with valid section 761(a) elections aren’t required to complete or file this form. Instead, the partner is required to complete and file this form in a manner commensurate with its undivided ownership interest in the facility. Also, see Rev. Proc. 2020-12, 2020-11, I.R.B. 511, available at IRS.gov/irb/ 2020-11_IRB#REV-PROC-2020-12 , for allocation safe harbor. However, if you elect to use the January 2021 Treasury Decision (TD) 9944, the section 761(a) election applies only in the case of qualified carbon oxide captured using equipment that’s originally placed in service at a facility before February 9, 2018. For qualified carbon oxide captured using equipment that’s originally placed in service at a facility on or after February 9, 2018, for each single process train of equipment (as described in Regulations section 1.45Q-2(c)(3)), only one taxpayer will be considered the person to whom the credit is attributable and only that person may claim the credit. See Regulations section 1.45Q-1(h)(1).

Taxpayers other than partnerships or S corporations whose only source of this credit is from those pass-through entities (other than a partnership with a valid 761(a) election) aren’t required to complete or file this form. Instead, report this credit directly on line 1x in Part III of Form 3800, General Business Credit.