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Form 8038-CPA: 8038-CP (Schedule A)
Treasury Form 8038-CP (Schedule A) is used to compute specified tax credit bonds for those claiming a credit under section 6431. The form must be completed by the issuer and attaches to Form 8038-CP.
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IRS Form 8038-CPA - 8038-CP (Schedule A)
Treasury Form 8038-CP (Schedule A) is used to compute specified tax credit bonds for those claiming a credit under section 6431. The form must be completed by the issuer and attaches to Form 8038-CP.
Risk Radar
Scan points- 1Ensure you correctly apply the 70% multiplication rule or skip it based on bond type (NCREB/QECB vs. QZAB/QSCB).
- 2Failing to complete the table for every bond maturity outstanding from Form 8038-CP, line 18.
- 3Incorrectly calculating column (d) by forgetting to multiply column (c) by 70% for NCREBs/QECBs.
- 4Entering the wrong value into column (e): using (b)/(c) instead of the required smaller amount.
- 5Forgetting to add up all amounts in column (e) and entering the total on page 1, line 2.
Plain English
This schedule helps calculate the specific tax credit you receive from certain types of bonds, like renewable energy or school construction bonds. By completing this form, filers show how much interest they are eligible to claim for these qualifying bonds. This calculation is necessary when filing Form 8038-CP.
Submission Date
- Filing date: 2023-01-13 22:10:45
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when claiming a credit under section 6431 for specified tax credit bonds, including NCREBs, QECBs, QZABs, and QSCBs.
- Do not use it when the bond types are not one of the four listed above (NCREB, QECB, QZAB, or QSCB).
- Check Form 8038-CP instead when completing the required schedule.
Form selector
Use this form or another form?
Need to report bonds with maturity dates following those listed on page 1
The continuation table starts on page 2 for subsequent maturities.
✓ Verify line 4 of Page 2.
Need a higher total than fits in the main section of page 1
Use the additional table provided on the back (page 2).
✓ Ensure you add amounts from both pages correctly.
Completing the initial bond details for the first maturity
Fill out columns (a), (b), (c), (d), and (e) starting on page 1.
✓ Confirm the interest payment date aligns with Form 8038-CP, line 18.
Deadline or filing window
The computation is required for bonds outstanding as of the interest payment date listed on Form 8038-CP, line 18. The schedule continues to track maturities following that initial date. No specific filing deadline window or extension period is stated in this excerpt.
Checklist
What you need before filling it out
Bond Maturity Date
The specific date the bond matures · Column (a) on Page 1 or 2
Interest Payable Amount
Interest payable on maturity from Form 8038-CP, line 18 · Column (b) on Page 1 or 2
Calculated Credit Amount
Interest calculated using Form 8038-CP, line 19b and applicable rate · Column (c) on Page 1 or 2
70% Multiplier
The factor used for NCREBs and QECBs · Column (d) calculation rule
Final Amount Entered
The final value entered into the schedule's total column · Column (e) on Page 1 or 2
Before you submit
- 1Ensure the Issuer's name and EIN are completed at the top of page 1.
- 2Verify that each bond entry lists its respective Interest payment date (MM/DD/YYYY).
- 3Confirm that Column (e) correctly reflects the smaller amount between Column (b) or (d) for NCREBs/QECBs, OR the smaller amount between Column (b) or (c) for QZABs/QSCBs.
- 4Check that the total from Page 2, line 4 is added to the total on Page 1, line 1 before entering the final sum on Page 1, line 3.
- 5Verify that Column (d) is present and calculated for NCREB and QECB bonds; skip this column for QZABs and QSCBs.
- 6Ensure the bond maturity date listed matches an outstanding bond reported on Form 8038-CP, line 18.
- 7Confirm that the final total amount is entered onto Form 8038-CP at Line 19c.
How to file this form
- 1Complete the required details (Issuer name, EIN, Interest payment date) on page 1 of Schedule A (Form 8038-CP).
- 2Fill out the table rows for each bond maturity, calculating columns (a) through (e), starting on page 1 and continuing to page 2 if necessary.
- 3Sum all amounts in Column (e) from both pages; enter this total onto Form 8038-CP at line 19c.
- 4Attach the completed Schedule A (Form 8038-CP) to your main Form 8038-CP before mailing.
Known limitations
- 1Schedule A (Form 8038-CP) is used when claiming a credit under section 6431 for specified tax credit bonds.
- 2The form applies to four specific types of bonds: new clean renewable energy bonds (NCREBs), qualified energy conservation bonds (QECBs), qualified zone academy bonds (QZABs), and qualified school construction bonds (QSCBs).
- 3For QZABs and QSCBs, column (d) on the table is skipped.
- 4The additional table on page 2 must be used if more lines are needed beyond those on page 1.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Revision December 2022 (Rev. 12-2022). The instructions direct users to www.irs.gov/Form8038CP for the latest information.
What changed or needs a fresh check
- Edition date — confirm Revision December 2022 (Rev. 12-2022) is present on both pages.
- Form Number — confirm the title reads Schedule A (Form 8038-CP).
- Issuer Identification — ensure the Issuer's name and EIN are accurately listed at the top of page 1.
- Interest Payment Date — verify the MM/DD/YYYY date is recorded for the bonds being reported.
Quick Facts
Downloads
After you file
- 1Keep a copy of the completed Schedule A (Form 8038-CP) for your records.
- 2Attach Schedule A (Form 8038-CP) to Form 8038-CP when filing.
- 3The form must be completed by the issuer.
- 4Refer to www.irs.gov/Form8038CP for instructions and the latest information after completion.
Sources
- SRCInstructions p.1 — Schedule A (Form 8038-CP) is used when claiming a credit under section 6431 for specified tax credit bonds.
- SRCInstructions p.1 — The form must be completed by the issuer and attaches to Form 8038-CP.
- SRCInstructions p.1 — For NCREBs and QECBs, column (c) is multiplied by 70% (0.70) for column (d).
- SRCInstructions p.1 — The final total from page 2 goes to line 2 on page 1.
- SRCInstructions p.1 — For NCREBs and QECBs, the amount entered in column (e) is the smaller of column (b) or (d).
- SRCInstructions p.2 — Page 2 continues the table for each maturity date outstanding from Form 8038-CP, line 18.
- SRCInstructions p.2 — For NCREBs and QECBs on page 2, column (c) is multiplied by 70% (0.70) for column (d).
- SRCInstructions p.2 — The final total from the table on page 2 goes to line 2 on page 1.
Common confusion points
Which column do I use for NCREBs or QECBs?
Column (d) is calculated by multiplying column (c) by 70% (0.70).
→ For these bond types, you must enter the smaller amount between column (b) and column (d) into column (e).
What do I use for QZABs or QSCBs?
Column (d) is skipped entirely for these bonds.
→ You must enter the smaller amount between column (b) and column (c) into column (e).
Where does the total from page 2 go?
The total from column (e) on page 2 goes onto page 1, line 2.
How do I calculate the final total for Form 8038-CP, line 19c?
Add the amounts in column (e) from page 1 (line 1) and page 2 (line 2).
What is the purpose of this form?
Schedule A (Form 8038-CP) is used to compute specified tax credit bonds for claiming a credit under section 6431.
When do I start filling out the table on page 2?
Begin with the first maturity date that follows the last maturity listed in the table on page 1.
Workflow map
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⚠ If something goes wrong
- Go to www.irs.gov/Form8038CP for instructions and the latest information.
Questions about IRS Form 8038-CPA
What is IRS Form 8038-CPA used for?
This schedule helps calculate the specific tax credit you receive from certain types of bonds, like renewable energy or school construction bonds. By completing this form, filers show how much interest they are eligible to claim for these qualifying bonds. This calculation is necessary when filing Form 8038-CP.
Who must file IRS Form 8038-CPA?
The issuer must complete Schedule A (Form 8038-CP) when claiming a credit under section 6431 for specified tax credit bonds such as NCREBs, QECBs, QZABs, and QSCBs.
What information does IRS Form 8038-CPA require?
This schedule collects details about the bond maturity dates and interest payments. It requires filling out tables that detail the 'Interest payable on bond maturity' (column b) and the calculated credit amounts for each maturity.
When is IRS Form 8038-CPA due?
The form must be completed for bonds outstanding from Form 8038-CP, line 18, interest payment date. The specific due dates are not stated in this excerpt, but it is attached to Form 8038-CP.
Where do I file IRS Form 8038-CPA?
The instructions direct users to www.irs.gov/Form8038CP for filing information. This schedule must be attached directly to Form 8038-CP.
How do I complete IRS Form 8038-CPA?
First, complete the initial table on page 1 for the first maturity date. Then, use page 2 to continue the calculation for subsequent maturities. Finally, add all amounts from column (e) and enter that total onto Form 8038-CP, line 19c.
What happens if IRS Form 8038-CPA is filed incorrectly?
If the eligible interest computation on Schedule A is incorrect, it will affect the final total entered on Form 8038-CP, line 19c, which determines the claimed credit amount.
Which column do I use for NCREBs or QECBs?
Column (d) is calculated by multiplying column (c) by 70% (0.70). For these bond types, you must enter the smaller amount between column (b) and column (d) into column (e).
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