Screen 8918 - Material Advisor Disclosure Statement (1040)

Overview

Use this screen to complete Form 8918, Material Advisor Disclosure Statement.

Form 8918, Page 1 - Material Advisor Disclosure Statement

Use this section to complete Form 8918, Page 1.
Enter the name by which the transaction is known. If there's no name, enter a short identifying description of the transaction.
Enter the name, identifying number, address, and telephone number of the material advisor. Note that the reportable transaction number will be sent to the material advisor's address entered in these fields.
Enter the material advisor's title. This information prints in the signature block on Form 8918, Page 2.
If the material advisor is an entity, enter the name, title, and telephone number of the contact person associated with the transaction. If the material advisor is an individual, leave these fields blank.
Enter
X
in this field if the material advisor disclosure statement being filed is a protective disclosure.
Enter
1
in this field if this is the original Form 8918 for the reportable transaction. If not, enter
2
in this field and enter the reportable transaction number previously issued in
Reportable transaction number
in the
8918
screen.
Enter the reportable transaction number previously issued for this reportable transaction or tax shelter. If a reportable transaction number hasn't been previously issued, leave this field blank.
Enter
X
in the field(s) to indicate the type(s) of reportable transaction(s).
Enter the published guidance number related to the transaction if the reportable transaction is a listed transaction or transaction of interest.
Enter the date the material advisor became a material advisor with respect to the reportable transaction.
If the material advisor is party to a designation agreement, use the attached statement to enter the name, identifying number, address, contact name, and telephone number of the other party(ies) involved.
Enter a description of the type of material aid, assistance, or advice provided by the material advisor.
If there are other entity(ies) and/or individual(s) who also provided material aid, assistance, or advice to this transaction, enter the role each entity or individual provided. Include each entity's and individual's name, identifying number (if known), and address.
Enter
1
in the field(s) if a related, foreign, or tax exempt entity was needed to obtain the intended tax benefits generated by the transaction. Enter
2
if another entity or individual wasn't needed to obtain the tax benefits generated by the transaction.
If another entity or individual was needed to obtain the intended tax benefits generated by the transaction, enter a description of the role of each individual or entity assumed in the transaction. Also identify the individual's or entity's country of existence if a particular country is required to obtain the intended tax benefits.
Enter
1
in this field if, in order to obtain the intended tax benefits generated by the transaction, income or gain from the transaction is allocated directly or indirectly to an individual or entity that has a net operating loss and/or unused loss or credits. If allocation of income or gain didn't occur, enter
2
in this field.
If income or gain from the transaction is allocated directly or indirectly to an individual or entity that has a net operating loss and/or unused loss or credits, enter the role of each individual or entity in the transaction.

Form 8918, Page 2 - Material Advisor Disclosure Statement

Use this section to complete Form 8918, Page 2.
Enter a description of the types of financial instruments used in the transaction.
Enter
X
in the field(s) to indicate the type(s) of tax benefit(s) generated by the transaction that the taxpayer is expected to claim in each year. If the tax benefit isn't listed, enter a description in
Other
in the
8918
screen.
Enter
1
in this field if the tax benefits are required to be claimed in the first year of participation by the taxpayer. Enter
2
in this field if the tax benefits may be claimed in another year by the taxpayer.
Enter the Internal Revenue Code section(s) used to claim the tax benefits generated by the transaction.
Enter a description of the reportable transaction for which the advisor provided material aid, assistance, or advice. Refer to the Form 8918, line 13 instructions for a summary of what should be included in the description.
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