Easily File Your Sales by Registered Ultimate Vendors of Aviation Gasoline Claim with Simple720!
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What is Sales by Registered Ultimate Vendors of Aviation Gasoline(11) under Schedule C Claim of Form 720?
Registered ultimate vendors of aviation gasoline(11) can file a claim on lines 11 of Form 720 if the buyer waives their right to claim by providing an unexpired certificate, as detailed in Model Certificate M in Pub. 510. A single claim can be made per gallon of aviation gasoline. The aviation gasoline must have been sold for use by nonprofit educational organizations or state/local governments, including essential use by Indian tribal governments.
- Line 11a: Eligible for a claim at $0.193 per gallon for aviation gasoline used by a nonprofit educational organization.
- Line 11b: Eligible for a claim at $0.193 per gallon for aviation gasoline used by state or local governments (including essential government use by an Indian tribal government).
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Claim Requirements:
- The claim must be for aviation gasoline sold or used during a period of at least one week, typically satisfied for quarterly claims filed on Form 720.
- The claim amount must total at least $200. This threshold can be met by combining amounts from lines 10 and 11.
- Claims must be filed by the end of the first quarter following the earliest quarter of the claimant's income tax year included in the claim. For example, a claim for January and February must be filed by April 30 on Form 720, while claims filed on Form 8849 are due by June 30.
- UV Registration Number: Ensure that your UV registration number is entered where indicated on the form.
- Required Documentation: Attach a separate sheet with the name and TIN of each nonprofit educational organization or government entity that purchased aviation gasoline, along with the gallon quantity sold to each.
Why File Electronically for Sales by Registered Ultimate Vendors of Aviation Gasoline(11) with Simple720?
How to Claim Your Sales by Registered
Ultimate Vendors of Aviation Gasoline(11))
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