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Screen 8918 - Material Advisor Disclosure Statement (1040)
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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.
Name of reportable transaction
Enter the name by which the transaction is known. If there's no name, enter a short identifying description of the transaction.
Name / Identifying number / Address / Telephone number
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.
Title
Enter the material advisor's title. This information prints in the signature block on Form 8918, Page 2.
Contact person / Title / Telephone number
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.
Protective disclosure
Enter
X
in this field if the material advisor disclosure statement being filed is a protective disclosure.Original Form 8918 for this reportable transaction?
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.Reportable transaction number
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.
Type of reportable transaction
Enter
X
in the field(s) to indicate the type(s) of reportable transaction(s).Published guidance number...
Enter the published guidance number related to the transaction if the reportable transaction is a listed transaction or transaction of interest.
Date material advisor became material advisor...
Enter the date the material advisor became a material advisor with respect to the reportable transaction.
Other party(ies) if party to designation agreement
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.
Type of material aid, assistance or advice provided
Enter a description of the type of material aid, assistance, or advice provided by the material advisor.
Role of other entity(ies) or individual(s)...
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.
Related.../Foreign.../Tax-exempt entity(ies) or individual(s)
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.Role of each individual or entity involved...
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.
Income or gain from the transaction...
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 yes, describe the role...
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.
Types of financial instruments used in this transaction
Enter a description of the types of financial instruments used in the transaction.
Type of tax benefit generated by 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.Period in which tax benefits are claimed
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.Code section(s) used to claim tax benefit(s)
Enter the Internal Revenue Code section(s) used to claim the tax benefits generated by the transaction.
Description of reportable 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.