Form Dtf-626 - Recapture Of Low-Income Housing Credit - 2012
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1
2DTF-626
New York State Department of Taxation and Finance
Recapture of Low-Income Housing Credit
Tax Law – Section 18(b)
Name(s) as shown on return
Identifying number
Address of building (as shown on Form DTF-625)
Building identification number (BIN)
Date placed in service (from Form DTF-625)
Submit with your New York State franchise tax return or personal income tax return.
Complete a separate Form DTF-626 for each building to which recapture applies.
(See instructions, Form DTF-626-I, for assistance in completing this form.)
Part 1
If building is financed in whole or in part with tax-exempt bonds, see instructions and enter:
Issuer’s name
Date of issue
Name of issue
CUSIP number
Part 2
Note: If recapture is passed through from a flow-through entity (partnership, New York S corporation,
estate, or trust), skip lines 1 through 7 and go to line 8.
.
1 Enter total credits reported on Form DTF-624 in prior years for this building
1
(see instructions)
00
2 Credits included on line 1 attributable to additions to qualified basis
.
2
(see Line 2 Worksheet on back)
00
.
3 Credits subject to recapture
................................................................
3
(subtract line 2 from line 1)
00
4 Credit recapture percentage
............................................................................
4
(see instructions)
.
5 Accelerated portion of credit
..................................................................
5
(multiply line 3 by line 4)
00
6 Percentage decrease in qualified basis
...........................................................
6
(see instructions)
7 Amount of accelerated portion recaptured
(multiply line 5 by line 6; see instructions if prior recapture
IRC section 42(j)(5) partnerships, go to line 16. All other flow-through entities
on building).
(except electing large partnerships), enter the result here and on the appropriate line of
Form IT-204 or Form CT-34-SH, as applicable. Generally, flow-through entities other than
electing large partnerships will stop here. (Note: An estate or trust enters on line 8 only its
.
share of recapture amount attributable to the credit amount reported on its Form DTF-624.) .....
7
00
8 Enter recapture amount from flow-through entity.......................................................................
.
8
00
.
9 Enter unused portion of the accelerated amount from line 7 (
...........................
9
see instructions)
00
.
10 Net recapture
............................... 10
(subtract line 9 from line 7 or line 8; if less than zero, leave blank)
00
.
11 Enter interest on the line 10 recapture amount
................................................ 11
(see instructions)
00
.
12 Total amount subject to recapture
.............................................................. 12
(add lines 10 and 11)
00
13 Unused credits attributable to this building, reduced by the accelerated portion
.
included on line 9
.......................................................................................... 13
(see instructions)
00
14 Recapture tax
Enter result here
(subtract line 13 from line 12; if zero or less, leave blank).
and on the appropriate line of the applicable form
. If more than one
(see instructions)
Form DTF-626 is filed, add the line 14 amounts and enter the total on the appropriate
.
line of the applicable form. Electing large partnerships, see instructions .............................. 14
00
15 Carryover of the low-income housing credit attributable to this building
.
....................................... 15
(subtract line 12 from line 13; if zero or less, leave blank; see instructions)
00
Part 3 – Only IRC section 42(j)(5) partnerships need to complete lines 16 and 17
.
16 Enter interest on the line 7 recapture amount
................................................. 16
(see instructions)
00
.
17 Total recapture
..................................................................... 17
(add lines 7 and 16; see instructions)
00
626001120094
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