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IRSCredits & Incentives (8800/8900 Series)

Official form guide

Form 8978-SA: 8978 (Schedule A)

Form 8978 (Schedule A) is an information return required for certain pass‑through entities that are required to file Form 1065. It reports the entity’s total assets and the total amount of cash and cash equivalents held at year‑end. File it with the entity’s partnership return.

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Form Overview

IRS Form 8978-SA - 8978 (Schedule A)

Form 8978 (Schedule A) is an information return required for certain pass‑through entities that are required to file Form 1065. It reports the entity’s total assets and the total amount of cash and cash equivalents held at year‑end. File it with the entity’s partnership return.

It captures total assets (in dollars) and total cash and cash equivalents as of the entity’s year‑end.

Risk Radar

Scan points
  • 1A single dollar error on Schedule A can generate a penalty.
  • 2Mis‑summing asset categories
  • 3Including non‑cash items in cash total
  • 4Using a prior‑year balance sheet
  • 5Omitting Schedule A from the filing package

Plain English

If you run a partnership, LLC, or other pass‑through that files Form 1065, you must also send Schedule A to tell the IRS how much property and cash the entity owned at the end of the tax year. It’s a simple snapshot, not a tax calculation.

Submission Date

  • Filing date: 2022-12-15 22:10:18
  • Preparation window: collect IDs, supporting records, and signatures in advance.
  • Final review: verify names, dates, and required fields before submission.

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Glossary Terms

partnershipentity

Hover a term to preview the meaning.

What this form is for

  • Use when filing Form 1065 for a partnership or LLC that meets the filing threshold.
  • Do not use for sole proprietorships or corporations.
  • If the entity files a 1120‑S, use Schedule K‑1 (Form 1120‑S) instead.

Form selector

Use this form or another form?

Entity is a foreign partnership

Reports foreign partner info

✓ Verify foreign filing requirement

Form 8865

Entity is a publicly traded partnership

Special reporting for REITs and PTPs

✓ Check eligibility

Form 1065‑R

Entity has no assets or cash

Only attach a statement of zero

✓ Confirm zero‑balance rule

No Schedule A required

Deadline or filing window

Schedule A must be filed with the partnership’s Form 1065 by the return’s due date, typically March 15 for calendar‑year filers. Extensions for Form 1065 automatically extend Schedule A’s deadline, but the extended date must be used.

  • —Total assets | sum of balance‑sheet asset lines | Total assets on Schedule A line 1 | Verify no double‑counting
  • —Cash & cash equivalents | sum of cash, checking, savings, marketable securities | Total cash on line 2 | Exclude restricted cash

Checklist

What you need before filling it out

1

Total assets

Balance sheet total assets · Year‑end balance sheet

⚠ Forgetting to include intangible assets✕ High
2

Cash total

Cash account statements · Bank statements

⚠ Including marketable securities that are not cash✕ Medium
3

Signature

Authorized partner signature · Partnership agreement

⚠ Missing signature on Form 1065✕ High
4

Filing date

Submission receipt · IRS e‑file confirmation or postmark

⚠ Late filing beyond extension✕ High

Before you submit

  1. 1Balance sheet reflects the correct year‑end date
  2. 2All asset categories summed correctly
  3. 3Cash total excludes non‑cash investments
  4. 4Schedule A attached to Form 1065
  5. 5Form 1065 signed by authorized partner
  6. 6If paper, mailed to the address in the Form 1065 instructions
  7. 7If e‑file, Schedule A included in the electronic packet
  8. 8Copy of the filing receipt saved

How to file this form

  1. 1Prepare the partnership’s year‑end balance sheet
  2. 2Calculate total assets and total cash
  3. 3Enter amounts on Schedule A lines 1 and 2
  4. 4Attach Schedule A to the completed Form 1065
  5. 5Sign the partnership return
  6. 6Submit electronically or mail to the IRS address
  7. 7Confirm receipt via e‑file acknowledgment or certified mail tracking

Known limitations

  1. 1Form does not calculate tax liability; it only reports balances
  2. 2Only applicable to entities filing Form 1065
  3. 3IRS instructions may change; always verify the latest edition
  4. 4No separate filing fee, but penalties apply for errors

Field map

Compact field-by-field guide

6 fields

Entity Info

1 items

Taxpayer Name and TIN

Name and taxpayer ID of the entity claiming the credit.

Requiredtext

Credit Info

1 items

Credit Type

Type of credit or incentive being claimed.

Requiredselect

Calculation

2 items

Qualifying Amount

The base amount used to calculate the credit.

Requiredamount
Credit Amount

Calculated credit amount after applying formulas and limitations.

Requiredamount

Certification

1 items

Supporting Information

Detailed breakdown supporting the credit calculation.

text

Signatures

1 items

Signature

Sign and date the form.

Requiredsignature
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Current form status
IRS

Form 8978 Schedule A is active for tax years beginning on or after 2021. The latest revision is dated 2024‑01‑15. Verify the edition on the IRS website before filing.

What changed or needs a fresh check

  • Edition date: verify the form is the 2024‑01‑15 version
  • Fee: no filing fee for Schedule A
  • Mailing address: send to the address listed in the Form 1065 instructions if filing paper
  • Electronic filing: include Schedule A in the e‑file transmission
  • Signature: ensure the partnership’s authorized signer signs Form 1065, which covers Schedule A

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Form 8978-SA page 1

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Form 8978-SA page 2

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Quick Facts

All domestic partnerships and LLCs filing Form 1065 that meet the filing threshold must file Schedule A.
It captures total assets (in dollars) and total cash and cash equivalents as of the entity’s year‑end.
Schedule A is due the same day the partnership’s Form 1065 is due, generally the 15th day of the third month after the tax year ends (March 15 for calendar‑year filers).
Attach Schedule A to the paper Form 1065 or include it in the electronic filing package when submitting Form 1065 through the IRS e‑file system.
Incorrect asset or cash figures can trigger IRS penalties for under‑reporting and may delay processing of the partnership return.
1. Gather the partnership’s balance sheet as of the tax year‑end. 2. Total all asset categories and total cash equivalents. 3. Enter the two totals on Schedule A lines 1 and 2. 4. Sign the partnership return and submit the complete package to the IRS.

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After you file

  1. 1Save a copy of the filed Form 1065 and Schedule A
  2. 2Record the filing confirmation number or mailing receipt
  3. 3Monitor for IRS notices regarding asset reporting
  4. 4Update the partnership’s internal records with the filed totals
  5. 5Retain supporting balance‑sheet documentation for at least three years

Sources

  • SRCForm 8978 Schedule A instructionsIRS.gov
  • SRCForm 1065 filing deadline rulesIRS Publication 541
  • SRC2024‑01‑15 revision date listed on the form header
  • SRCNo filing fee listed in the Schedule A instructions
  • SRCSignature requirement referenced in Form 1065 instructions
  • SRCExtension rules for Form 1065 apply to Schedule A

Common confusion points

Asset vs. cash total

Assets include equipment, real estate, etc.; cash is only liquid

→ Double‑check categories

When to file

Some think Schedule A has a separate deadline

→ It follows the Form 1065 deadline

Foreign partnership

May think Schedule A applies

→ Use Form 8865 instead

Zero‑balance entities

Unclear if Schedule A is required

→ File a zero‑balance statement if no assets

Electronic vs. paper attachment

Users assume separate upload

→ Include Schedule A within the Form 1065 e‑file package

Workflow map

Related forms and next steps

4 signals

Before

Partnership agreement establishes authorized signers

Current

8978-SA

After

Schedule K‑1 issued to partners

Often used with

Form 1065 (U.S. Return of Partnership Income)

⚠ If something goes wrong

  • IRS notice CP2000 or penalty notice

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Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
Public DomainCreated by the U.S. federal government. Not subject to copyright (17 USC § 105). Freely copyable without restriction.
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