Fillable Form Ia 148 - Tax Credits Schedule

2012 IA 148 Tax Credits Schedule Instructions

Attach the IA 148 Tax Credits Schedule to the tax return

The following nonrefundable credits do not require a

on which tax credits are being claimed. The tax credits

certificate number:

schedule is used to claim tax credits against individual

20 Charitable Conservation Contribution Tax Credit

income tax, fiduciary income tax, corporation income

04 Franchise Tax Credit

tax, franchise tax, and insurance premium tax liabilities.

09 Minimum Tax Credit

Each credit should be entered on a separate line. Also, a

08 New Jobs Tax Credit

separate line should be used for each unique tax credit

12 S Corporation Apportionment Tax Credit

certificate number.

23 Geothermal Heat Pump Tax Credit

Column C: Enter any amount carried forward from

Part I: Nonrefundable Tax Credits

previous tax years for each of the credits being claimed,

Column A: Enter the tax credit code from the table

separating credits by certificate number.

below for the credit claimed on each line.

Column D: Enter the total amount of credit you earned

02 Economic Development Region Revolving Fund

directly or received from a pass-through entity (see

Tax Credit (carryforward amounts only)

definition of pass-through entity in instructions for Part

03 Endow Iowa Tax Credit

IV) during the current tax year. The instructions for

04 Franchise Tax Credit (refer to worksheet IA 147)

column A indicate if a credit requires a separate form. If

06 Housing Investment Tax Credit

the credit you are claiming lists a form number, please

07 Investment Tax Credit (refer to worksheet IA

enclose that form with your tax return. If a credit is

3468)

received from a pass-through entity, Part IV must also be

08 New Jobs Tax Credit (refer to worksheet IA 133)

completed for the credit.

09 Minimum Tax Credit (attach form IA 8801 to

IA 1040 and IA 1041; or form IA 8827 to IA

Column E: Add column C to column D and enter total

1120)

in column E.

10 Renewable Energy Tax Credit

Column F: Enter the amount of each credit being

11 S Corporation Apportionment Tax Credit (attach

applied to the current tax year. If credits available (the

form IA 134)

sum of column F) exceed total liability (line 52 of the IA

12 School Tuition Organization Tax Credit

1040 for individual income tax), credits are to be

13 Venture Capital - Fund of Funds Tax Credit

claimed in the order provided in Iowa Administrative

14 Venture Capital - Qualified Business or Seed

Rule 701-42.44 for individual income tax and fiduciary

Capital Fund Tax Credit (carryforward amounts

income tax, and Iowa Administrative Rule 701-52.12 for

only)

corporation income tax, franchise tax, and insurance

15 Venture Capital - Venture Capital Funds Tax

premiums tax. (To view the text of these rules, go to

Credit

https://

16 Wind Energy Production Tax Credit

agencyDocs.aspx to review all Department rules.) The

17 Agricultural Assets Transfer/Beginning Farmer

total of column F may not exceed total tax liability.

Tax Credit

18 Film Expenditure Tax Credit

Column G: If the entire credit is not claimed by the end

19 Film Investment Tax Credit

of the carryforward period, the remaining credit expires.

20 Charitable Conservation Contribution Tax Credit

Enter the amount of any credit that has expired. Any

21 Redevelopment Tax Credit

Franchise Tax Credit or S Corporation Apportionment

22 Solar Energy System Tax Credit

Tax Credit that is not claimed in the current tax year

23 Geothermal Heat Pump Tax Credit

expires as these credits cannot be carried forward.

Column B: Enter the tax credit certificate number

Column H: Enter the amount from column E less any

received from the agency or organization that awarded

amount from column F and/or column G.

the tax credit. Tax credits awarded before July 2006 may

not have a certificate number.

41-148b (10/11/12)

Form Ia 148 - Tax Credits Schedule - 2012 Page 2

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