Form 5884

Department of the Treasury
Internal Revenue Service

Jobs Credit

b Attach te your tex return.

| 1979

Name

Identifying number as shown on page 1 of your tax
return

Important.—The taxpayer's wage and salary deduction must be reduced by the credit on line 9 if the taxpayer elects
to claim this credit. (See instruction G.)

If you are an electing small business
corporation, partnership, estate, or trust
which apportions the credit to sharehold-
ers, partners, or beneficiaries, complete
only lines 1 through 9.

If you are an individual shareholder,
partner, beneficiary, or patron, who re-
Ceives a jobs credit(s) from a small busi-

ness corporation, partnership, estate,
trust, or section 1381(a) cooperative,
and have no other jobs credit, skip lines 1
through 9; enter your apportioned
credit(s) on line 10, 11, 12, or 13 and
complete the balance of the form as
applicable.

If you are an individual who receives

more than one jobs credit, see instruc-
tion for line 9.

Note: If you are a member of a group of
trades or businesses that are under com-
mon control or an estate or trust that ap-
portions the jobs credit between itself and
its beneficiaries, please see instruction H
(2) and the instruction for line 9 before
completing the form.

ME Jobs Credit

1 Complete the schedule below for qualified first-year wages (limited to $6,000 for each employee) paid
or incurred during the tax year to employees who are certified as members of a targeted group (see
instructions D and E):

©)

© Total qualified first-year
Number of employees i
Targeted group within each group wages paid or incurred

Targeted group A

Targeted group B

Targeted group C

Targeted group D

Targeted group E

Targeted group F

Targeted group G

2 Total—Add the amounts in columns
(b) and (c). 0 «@ ew we ww ew ew wes

3 Enter 30% of the total FUTA wages paid during the 1979 calendar year (see instructions). 2. « »
4 Enter the smaller of line 2, column (c), or line

Yi

5 Complete the schedule below for qualified second-year wages (limited to $6,000 for each employee)
paid or incurred during the tax year to employees who are certified as members of a targeted group
(see instructions D and E):

«)

@ ) Total qualified second-year
Number of employees ;
Targeted group umber of employes wages paid or incurred

Targeted group A

Targeted group B

Targeted group C

Targeted group D

Targeted group E

Targeted group F

Targeted group G

6 Total—Add the amounts in columns
(b) and (Cc). 2 ww ew we ew ee we

7 Enter 50% of line 4 (see instruction | for special limits). 2 . 2 © «© «© s © # © ee we

8 Enter 25% of line 6, column (c) (see instruction I for special limits}. . . 2 2 2 2 2 ee ©
9 Current year jobs credit—Add lines 7 and 8. Enter here and include on Schedule C (Form 1040), line
31(b); Form 1120, line 13b, page 1; or the corresponding appropriate line on other returns (see in-
‘struction G for details). (Members of a group of trades or businesses under common control, electing
small business corporations, partnerships, estates and trusts, see instruction for line9.). . « « «

10 Shareholder's current year jobs credit from Schedule K-1 (Form 1120S). . 2 2. » «© ee ew @
11 Partner's current year jobs credit from Schedule K-1 (Form 1065). . « « + + ee ee oe
12 Beneficiary’s current year jobs credit from Schedule K-1 (Form 1041). . . 2 2» © ee we oe
13 Patron's jobs credit—Enter credit allocated from cooperative (see instruction J). . . 2 « + «
14 Total jobs credit for current year—Add lines 9 through 13. 2 1 ee we ee ee

15 Carryback and carryover of unused credit(s) other than shareholder's, partner's, or beneficiary's unused
credit(s) entered on line 22, 23,or24. . . ss ee

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HII |

15

Form 5884 (1979)


Form 5884 (1979)

Pare 2

Tax Liability Limitation

b Estates and trusts—-Enter amount from Form 1041, line 27, pagel. . . 2 2 we

16 a Individuals—Enter amount from Form 1040, line 37, page2. . . 6 ee ew ee
 Corporations—Enter amount from Schedule J (Form 1120), line 3, page3. 2 2 « «

17 a Credit for the elderly (individuals only) » . 2 6 ee ee ee [AZaf

b Foreign tax credit. . 2 se 0 0 ee ew ee ew ew ww fA eaneneneeeeneee

© Investment credit. 2 6 ee ee ee ee ee ww ww (eet
AWIN credit. 6 6 ee ee ee ee ee we ew ee [Ad

e Credit for political contributions (individuals only). » . . « « « |27@}

f Credit for child and dependent care expenses (individuals only). . . [27]
@ Possessions corporation tax credit (corporations only). 2 » « « « M6)
h Tax on lump-sum distributions from Form 4972 or Form 5544. . . {27h}

1 Section 72(m)(5) penalty tax (individuals only). . . 2 2 6 « ~ L2Zi}
J Total—Add lines 17a through 171. . 2 2 © 2 ee we ee ee et ee et

18 Subtract line 17jfromlinel6. 2 2 2 2 ee we we we ee ee eee ee

19 Tax liability limitation for line 14—Enter 90% of line 18. . « « « ee ee ee Le

20 Allowed current year jobs credit—Enter smaller of line 14 or line 19. If line 14 does not contain an
entry, enter zero. (Section 1381(a) type cooperatives, see instruction J.). . + 2 + « « ee «
21 Tax liability limitation for lines 22, 23, and 24—Subtract line 20 from line 19 (all filers other than
shareholders, partners and beneficiaries to which lines 22, 23, or 24, apply, are to skip lines 22
through 25; enter zero on line 26; and complete lines 27 through 29 as applicable). . 2. . 2 » «

22 Enter sharehoider’s unused carryover credit from tax years beginning priorto1-1-79. . . 2 « -
23 Enter partner's unused carryover credit from tax years beginning priorto1-1-79. . 2 « « © «©
24 Enter beneficiary's unused carryover credit from tax years beginning priorto1-1-79. . « . « +

25 Lines 22, 23 and 24 limits:
a Enter the smallest of line 21, 22, or the amount figured by using the formula in the line 25 Instruc-

tion we ee ee ew ee ee ee

b Enter the smallest of line 21, 23, or the amount figured by using the formula in the line 25 instruc-
tion we ee
¢ Enter the smallest of line 21, 24, or the amount figured by using the formula in the line 25 instruc-
tion 6 ww ee ee ee
26 Total allowed unused carryover credit(s) from tax years beginning prior to 1-1—79 for shareholders,
partners, and beneficiaries—Add lines 25a through 25c. If zero, enter zero. Do not enter more than

line 21 2 6 ww ee ee
27 Tax liability limitation for fine 18-—-Subtract line 26 from line 21. 6 2 ee ee ee ee
28 Total allowed unused credit from line 15—Enter the smaller of line 27 orline15. . . . +

29 Total allowed jobs credit from all sources—Add lines 20, 26, and 28. Enter here and on Form 1040,
line 44; Schedule J (Form 1120), line 4(d), page 3; or the appropriate line on other returns .__. .

il ATT TT

tr U.S. GOVERNMENT PRINTING OFFICE : 1979-0-283-205 58-040-1110