Form 1097-BTC, Bond Tax Credit
Form 1097-BTC reports tax credits distributed from certain tax credit bonds to the people entitled to claim them. Fill in the official IRS PDF below and download it.
This is the genuine IRS PDF, unmodified. Source: IRS official page.
What is 1097-BTC?
Form 1097-BTC, Bond Tax Credit, is an information return used by issuers of certain tax credit bonds, or their agents, to report the credit amounts distributed to bondholders. Entities that receive the form and pass the credit further along, such as mutual funds or partnerships, file it again for their own recipients.
The recipient uses the reported amounts to claim the bond tax credit on their income tax return. The form shows the credit allocated for each month plus the annual total.
Who files 1097-BTC?
- Issuers of certain tax credit bonds, or agents filing on their behalf
- Mutual funds, partnerships, and other entities further distributing a credit they received
- Brokers and nominees who hold tax credit bonds for beneficial owners
- Bondholders receive the form and use it to claim the credit on their return
How to fill out 1097-BTC
- Enter the issuer’s or agent’s name, TIN, and address, then the recipient’s identifying information.
- Check the box that says whether the filer is the bond issuer or an entity further distributing the credit.
- Identify the bond, including the CUSIP number or other unique identifier and the bond code.
- Enter the credit amount allocated for each month and the total for the year in box 1.
- Download the finished PDF, furnish the recipient copy, and file the IRS copy by the deadline in the current instructions.
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Frequently asked questions
What do I do with a Form 1097-BTC I received?
Use the amounts on it to claim the bond tax credit on your income tax return. Keep the form with your records; you generally do not attach it to the return itself.
Why would a mutual fund file Form 1097-BTC?
When a fund or partnership holds tax credit bonds, the credit flows through to its investors. The fund receives a 1097-BTC from the issuer and files its own 1097-BTC forms to pass each investor’s share along.