Form 8611 - Recapture Of Low-Income Housing Credit
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48611
Recapture of Low-Income Housing Credit
OMB No. 1545-1035
Form
Attach to your return.
▶
(Rev. December 2013)
Information about Form 8611 and its instructions is at
▶
Department of the Treasury
Attachment
90
Note: Complete a separate Form 8611 for each building to which recapture applies.
Sequence No.
Internal Revenue Service
A
Name(s) shown on return
B Identifying number
C
D Building identification
E Date placed in service (from
Address of building (as shown on Form 8609)
number (BIN)
Form 8609)
F
(2) Date of issue
If building is financed in whole or part with tax-exempt bonds, see instructions and furnish:
(1) Issuer’s name
(3) Name of issue
(4) CUSIP number
Note: Skip lines 1–7 and go to line 8 if recapture is passed through from a flow-through entity (partnership, S corporation, estate, or
trust). However, section 42(j)(5) partnerships must complete lines 1 through 7.
1
Enter total credits reported on Form 8586 in prior years for this building .
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1
2
Credits included on line 1 attributable to additions to qualified basis (see instructions)
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2
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3
Credits subject to recapture. Subtract line 2 from line 1 .
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4
Credit recapture percentage (see instructions) .
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4
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5
5
Accelerated portion of credit. Multiply line 3 by line 4
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6
Percentage decrease in qualified basis. Express as a decimal amount carried out to at least 3
places (see instructions) .
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6
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7
Amount of accelerated portion recaptured (see instructions if prior recapture on building).
Multiply line 5 by line 6. Section 42(j)(5) partnerships, go to line 16. All other flow-through
entities (except electing large partnerships), enter the result here and enter each recipient’s
share in the appropriate box of Schedule K-1. 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 8586.) .
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7
8
Enter recapture amount from flow-through entity (see Note above) .
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9
Enter the unused portion of the accelerated amount from line 7 (see instructions) .
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9
10
Net recapture. Subtract line 9 from line 7 or line 8. If less than zero, enter -0-
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10
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11
Enter interest on the line 10 recapture amount (see instructions) .
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12
Total amount subject to recapture. Add lines 10 and 11
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12
13
Unused credits attributable to this building reduced by the accelerated portion included on line 9
(see instructions)
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13
14
Recapture tax. Subtract line 13 from line 12. If zero or less, enter -0-. Enter the result here and
on the appropriate line of your tax return (see instructions). If more than one Form 8611 is filed,
add the line 14 amounts from all forms and enter the total on the appropriate line of your return.
Electing large partnerships, see instructions
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14
15
Carryforward of the low-income housing credit attributable to this building. Subtract line 12
15
from line 13. If zero or less, enter -0- (see instructions) .
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Only Section 42(j)(5) partnerships need to complete lines 16 and 17.
16
Enter interest on the line 7 recapture amount (see instructions)
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16
17
Total recapture. Add lines 7 and 16 (see instructions)
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8611
For Paperwork Reduction Act Notice, see instructions.
Form
(Rev. 12-2013)
Cat. No. 63983Q
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