How are transferred credits reflected on corporate returns?
• Beginning in 2002, Form 600 was amended to add Schedules 9 and 10. These two schedules should reflect the credits claimed and the credits transferred. There are spaces to show what entity the credit was transferred from/to and the percentage of credit being claimed or transferred. (Form 600S has these two schedules as Schedules 10 and 11.) A statement should also be attached to the return to make the election to transfer the credit and to specify the affiliate(s) to which the credit is being transferred.