Get Rev 1123

Filling out the Rev 1123 form is essential for entities wishing to pass through the Educational Improvement Tax Credit to their shareholders, members, or partners. This guide provides step-by-step instructions to help you complete the form accurately and efficiently online.

Follow the steps to fill out the Rev 1123 online.

1. Click the ‘Get Form’ button to obtain the form and open it in the designated editor.
2. In Section I, enter the name of the pass-through entity in the designated field. Next, provide the entity's address, phone number, fax number, and email address.
3. Fill in the Identification Number, which could be your Revenue ID, FEIN, or SSN. Then, indicate the total EITC awarded for the tax year along with the contribution date and the various amounts, ensuring you calculate the total correctly.
4. Specify the amount of EITC you want to apply to the entity's liability and the amount that will be passed through to shareholders, members, or partners.
5. Respond to the questions regarding the passing through of the remaining EITC by selecting 'yes' to only one of the options provided in the form.
6. Complete and attach Section II, which requires you to list each shareholder, member, or partner receiving a pass-through EITC. Include their name, address, Social Security number, percentage of distributive income, total amount of EITC credit, and the taxable year for applying the credit.
7. After filling out all sections and fields, review the information for accuracy. Finally, you can save your changes, download, print, or share the completed form as necessary.

Complete your Rev 1123 form online today to take advantage of the Educational Improvement Tax Credit.