Get 5217 D Form 2012

Filling out the 5217 D Form 2012 online can streamline the process of applying for educational credits. This guide provides clear, step-by-step instructions to ensure users can complete the form efficiently and accurately.

Follow the steps to complete the 5217 D Form 2012 online.

1. Click 'Get Form' button to obtain the form and open it in the editor.
2. Enter the employer name and Employer Identification Number (EIN) in the designated fields, ensuring the information is accurate.
3. Select the entity type by checking the appropriate box that reflects your organization (C Corporation, S Corporation, Partnership, LLC, Sole Proprietor).
4. Input the name of the qualified employee and the Maine location where they worked during the tax year.
5. Indicate whether the employee received a bachelor’s or associate degree by checking the corresponding box. Record the date of graduation.
6. Enter the monthly benchmark loan payment amount relevant to the employee's degree in line 1, based on the instructions provided.
7. On line 2, enter the lesser amount between the loan payments due and the actual payments made during the tax year.
8. Calculate the number of months eligible for credit while the qualified employee was a resident of Maine and working for you; input this on line 4.
9. Multiply the value from line 3 by the number of months from line 4 and enter the result on line 5.
10. Record the amount of loan payments made by the employee or others on line 6.
11. Subtract the amount in line 6 from the total in line 5 and enter the result on line 7.
12. Enter the total number of credit hours earned for the degree after December 31, 2007, in line 8a and total credit hours earned in line 8b. Calculate and input the ratio on line 8c.
13. Multiply the value in line 7 by the ratio in line 8c, recording this in line 9 as the tentative credit amount.
14. Determine if the employee works full-time or part-time and enter the appropriate value on line 10.
15. Multiply the value in line 9 by the value in line 10 to find the credit amount for line 11.
16. Include any carryforward credit from the previous year in line 12.
17. Calculate the total credit available by summing line 11 and line 12, and record this in line 13.
18. Finally, review the data entered, make any needed corrections, and then save changes, download, print, or share the completed form.

Complete your educational credit application by filling out the 5217 D Form 2012 online today.