Get Form 8611 2013-2025

Form 8611 is an important document used for the recapture of low-income housing credits. This guide provides clear, step-by-step instructions designed to help users, regardless of their legal experience, accurately complete the form online.

Follow the steps to fill out Form 8611 online effectively.

1. Click the ‘Get Form’ button to access and open the form in an editor.
2. In section A, enter the name(s) that appear on your tax return. This ensures that the form is attached correctly to your return.
3. For section B, input your identifying number; this is typically your Social Security number or Employer Identification Number.
4. In section C, provide the address of the building as specified on Form 8609 to relate the recapture back to the specific property.
5. Fill in section D with the Building Identification Number (BIN), a critical reference for your property.
6. If applicable, section F requires you to input details concerning tax-exempt bond financing.
7. Proceed to lines 1-7 only if not filing as a flow-through entity. Enter total credits reported on Form 8586 in prior years for this building in line 1.
8. On line 2, report any credits attributable to additions to qualified basis as per the instructions.
9. Calculate the credits subject to recapture by subtracting line 2 from line 1 and input the result on line 3.
10. Determine the credit recapture percentage and fill in line 4 appropriately based on the specific year of recapture.
11. Complete line 5 by multiplying line 3 by line 4 to find the accelerated portion of credit.
12. Express the percentage decrease in qualified basis on line 6 as instructed.
13. Multiply the results of line 5 by line 6 and record the amount of accelerated portion recaptured on line 7.
14. If applicable, proceed to line 8, and if you are a flow-through entity, ensure you capture the recapture amount accordingly.
15. Final adjustments can be made in lines 10-15 to find your total recapture tax. Ensure to consult the instructions for accurate calculations.
16. Once completed, users can save changes, print, download, or share the form as necessary.

Complete your Form 8611 online today to ensure your tax records are accurate and up to date.