Schedule H - Investment Tax Credit And Carryovers - State Of Massachusetts 2000 Page 2
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1
2Part 4. Carryovers to Future Years
2000 Schedule H – Page 2
30 Maximum amount of credits eligible for conversion to unlimited carryover status (enter 50% of line 11). . . . . . . . . . . . . . 30
31 1998 carryover (enter amount from line 15e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
32 1999 carryover (enter amount from line 16e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
33 2000 carryover (enter amount from line 17e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
34 1999 carryover from 18e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
35 2000 carryover from 19e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
36 1993 10-year carryover (enter amount from line 20e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
37 1994 10-year carryover (enter amount from line 21e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
38 1995 10-year carryover (enter amount from line 22e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
39 1996 10-year carryover (enter amount from line 23e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
40 1997 10-year carryover (enter amount from line 24e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
41 1998 10-year carryover (enter amount from line 25e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
42 1999 10-year carryover (enter amount from line 26e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
43 2000 10-year carryover (enter amount from line 27e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
44 Unlimited carryover:
Carryovers converted to unlimited status. Add lines 13d through 27d . . . . . . . . . . . . 44a
Unlimited carryovers from prior years (enter amount from line 28d) . . . . . . . . . . . . . . 44b
Total. Add lines 44a and 44b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
45 Total credits carried over. Add lines 30 – 44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ❿ 45
Part 5. Reconciliation of Capital Assets in Massachusetts
a.
b.
c.
d.
Property with life
Qualifying
Total
less than 4 years
property
Land
(a + b + c)
46 Beginning of taxable year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
47 Purchases during taxable year . . . . . . . . . . . . . . . . . . . . . . . . . . 47
48 Other acquisitions during taxable year . . . . . . . . . . . . . . . . . . . . 48
❿
49 Sales, exchanges and retirements during taxable year . . . . . . . 49
50 Depreciation taken during taxable year . . . . . . . . . . . . . . . . . . . 50
51 Other adjustments (explain) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51
❿
52 End of taxable year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
If line 47, column b differs from line 6, explain the difference. If line 52, column d differs from Schedule A, line 1I, explain the difference.
Schedule H-2. Credit Recapture
Complete Schedule H-2 only if the corporation has investment tax credit, Economic Opportunity Area Credit, or Brownfields Credit to be recaptured.
See instructions.
Property A
Property B
Property C
Description of property (check appropriate box)
ITC
EOA
BC
ITC
EOA
BC
ITC
EOA
BC
31 Original credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
32 Date property was placed in service . . . . . . . . . . . . . . . . . . . . . 12
33 Total months of useful life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
34 Date property was disposed of or ceased to be in qualified use 14
35 Months of qualified use. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
36 Line 5 divided by line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
%
%
%
37 Recapture percentage. Subtract line 6 from 100% . . . . . . . . . . 17
%
%
%
38 Tentative recapture tax. Line 7 multiplied by line 1 . . . . . . . . . . 18
39 Portion of original credit not used to offset tax in
any year. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
10 Net recapture tax. Subtract line 9 from line 8, but not less
than “0.” Enter here and in line 18 of computation of excise
(Form 355A, 355B, 355C-A or 355C-B) or line 21
(Form 355S-A, 355S-B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
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