Rev. Proc. 2020-12, page 511.

This revenue procedure provides a safe harbor relating to the allocation of section 45Q credits for the sequestration of carbon oxide to partners in a partnership for purposes of section 704(b) of the Code. If taxpayers satisfy the requirements of the safe harbor, the revenue procedure provides that the Internal Revenue Service will treat partnerships as properly allocating the section 45Q credit in accordance with section 704(b) and the regulations thereunder.