It seems to me that the amount of work involved in filling out form 8913 to claim credit may outweigh the amount of the credit. Does anyone have any rough idea how large a partnership's telephone bills would have to be to make it worthwhile to claim this credit?
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It doesn't take long to get the information for the short-cut method. Most of my clients are getting a few hundred back ($100 - $200 seems to be the average), with one as high as $300 and one as low as $40. It doesn't actually take long either way, once you have the data. Finding the data though is a whole other story.
The tax was 3% of the long distance, so take a look at the past few months bills long distance to see if you think it's worth the time to dig out the bills over what might not amount to much more. If the phone usage is pretty static, go with the EZ method and pull the details from the April and September phone bills. If they had more LD usage in past years, it's worth digging it out month by month.
-- Paul Thomas, CPA snipped-for-privacy@bellsouth.net
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