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Filling out IRS Form 8883 (2008) can be straightforward with the right guidance. This form, known as the Asset Allocation Statement, is essential for reporting asset allocations related to certain corporate acquisitions. Our platform simplifies this process, ensuring you can complete your forms efficiently and accurately.

Follow the steps to complete Form 8883 effortlessly.

  1. Begin by signing up or logging into our editor. This will allow you to access and edit your documents online for free.
  2. Click ‘Get Form’ to open Form 8883 in the editor. You’ll find a user-friendly interface that makes filling out the form easy.
  3. In Part I, enter your identifying information including your name and number as shown on your tax return. Check the applicable box for old or new target.
  4. Proceed to Part II and indicate whether a valid Form 8023 was filed by entering the date if applicable.
  5. Complete Parts III through VI by providing details about the target corporation, acquisition dates, stock prices, and asset allocations as required.
  6. Once all sections are filled out, review your entries for accuracy. You can then print, download, or share the completed form directly from our platform.

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2017 4.8 Satisfied (189 Votes)
2008 4.4 Satisfied (491 Votes)
2002 4 Satisfied (34 Votes)
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The most recent compliance campaigns are issues under Internal Revenue Code Section 937, as well as a couple of IRS tax forms: Form 8594, Asset Acquisition Statement Under Section 1060 and Form 8883, Asset Allocation Statement Under Section 338.
Use Form 8883 to report information about transactions involving the deemed sale of corporate assets under section 338. This includes information previously reported on Form 8023, Elections Under Section 338 for Corporations Making Qualified Stock Purchases.
A partnership is a pass-through entity in that the income or loss from the partnership passes to the partners and is taxed on the partners individual tax returns. The Form 8893 has nothing to do with how your LLC is taxed. Its for specialized treatment at audit and at trial for small partnerships.
Taxpayers use this form to make the treaty-based return position disclosure required by Internal Revenue Code section 6114. Dual-resident taxpayers use this form to make the treaty-based return position disclosure required by Regulations section 301.7701(b)-7.
The regulations provide that a section 338 election is made by filing Form 8023. The burden for this requirement is reflected in the burden of Form 8023. The regulations also provide that both a seller and a purchaser must each file an asset acquisition statement on Form 8594.
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Both the seller and purchaser of a group of assets that makes up a trade or business must use Form 8594 to report such a sale if goodwill or going concern value attaches, or could attach, to such assets and if the purchasers basis in the assets is determined only by the amount paid for the assets.
Both the buyer and seller generally must file Form 8594, Asset Acquisition Statement Under Section 1060, to report the transfer of assets that constitute a trade or business.

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