Arizona Form 331 - Credit For Donation Of School Site

Credit for Donation of School Site

ARIZONA FORM

2002

331

YYYY

For taxable year beginning ______/______/________, and ending ______/______/________

Attach to your return

Name(s) as shown on Forms 120, 120A, 120S, 120X, 140, 140PY, 140NR, 140X, or 165

Social security number or federal employer ID number

The donated real property and improvements must be located in Arizona. The credit is in lieu of a deduction for the donation of the property for which the credit

is claimed. (See instructions)

Part I

Donated Property Information and Calculation of Current Taxable Year’s Credit

Property 1

Property 2

Property 3

1 Arizona county in which the property is located ........................

2 Parcel number of property .........................................................

3 Date of property conveyance.....................................................

4 Recording number of property conveyance...............................

5 Value of property based on qualiﬁ ed certiﬁ ed appraisal ............

6 Multiply the amounts on line 5 in each column by

30 percent (.30) .........................................................................

7 Add the amounts on line 6 in each column. Enter the total ..............................................................

8 Total from continuation sheets, if applicable .....................................................................................

9 Current taxable year’s credit - Add lines 7 and 8.............................................................................................................................

Part II

S Corporation Credit Election and Shareholder’s Share of Credit

YYYY

10 The S corporation has made an irrevocable election for the taxable year ending ______/______/________ to:

(CHECK ONLY ONE BOX)

Claim the credit for donation of school site as shown on Part I, line 9 (for the taxable year mentioned above);

Pass the credit for donation of school site as shown on Part I, line 9 (for taxable year shown above) through to its shareholders.

Signature

Title

Date

If passing the credit through to the shareholder, complete lines 11 through 13 separately for each shareholder. Furnish each shareholder with a copy of the

completed Form 331.

11 Name of shareholder ______________________________________

12 Shareholder’s TIN ________________________________

13 Shareholder’s share of the amount on Part I, line 9 _________________________________

Part III

Partner’s Share of Credit

Complete lines 14 through 16 separately for each partner. Furnish each partner with a copy of the completed Form 331.

14 Name of partner ______________________________________

15 Partner’s TIN _________________________________

16 Partner’s share of the amount on Part I, line 9 __________________________________

ADOR 91-5329 (02)