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Looked for it at IRS.gov have you?



Couldn't find it, eh? Didn't you know the IRS doesn't publish the CODE on the web? That would make it too easy to find credits and loopholes and stuff they don't want you to know.
Even if you search on it's entire heading...

TITLE 26, Subtitle A, CHAPTER 1, Subchapter A, PART IV, Subpart B, Sec. 29

it's not on the IRS site.

Fortunately, you don't have to know everything about the code. the company that is operating the trust has that responsibility. Each quarter they issue the declared royalty and tax credit for the quarter. Each year they supply all shareholders with the documentation necessary to claim the credit. All you have to do if fill out the appropriate line in the 1040(last year line 50) and include a copy of form 8830 (line k) with the information from the company and your good to go.

However, we are fortunate that someone in America dares to publish the IRS code on the net thus making it available for all to see.

http://www.fourmilab.ch/ustax/www/t26-A-1-A-IV-B-29.html

You will note that this section has a provision that essentially ends the credit at the end of 2007. There are bills before Congress that would extend this credit to 2011 and beyond. The Bush administration supports them and so do I.
This Credit encourages the production of alternate sources of energy as well as maximizing the production of natural gas from resources that would not otherwise be used.
That the average investor can benefit from this is just an added bonus.

Add you thought I was just out to make a buck!

If you have/want an electric car check out section 30!


The Bird of Prey
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