Get Nebraska Community Development Assistance Act

This guide provides comprehensive instructions for users on how to fill out the Nebraska Community Development Assistance Act Credit Computation form online. By following these steps, applicants can efficiently navigate the process and ensure accurate completion.

Follow the steps to successfully complete your form online.

1. Press the ‘Get Form’ button to access the form and open it in your preferred online editor.
2. Begin by filling out your personal information. Provide your name as it appears on your tax return, and enter your Social Security Number or Nebraska ID Number as required.
3. Indicate the type of Nebraska return you are filing by selecting from the options provided, such as 1040N, 1041N, 1065N, 1120N, 1120NF, or 1120-SN.
4. Move to Part A, where you will calculate the total credit you are claiming. Start with line 1, entering the amount of the credit approved this year.
5. For line 2, enter any unused credit carried over from previous years, detailing specific years if necessary.
6. Complete line 3 by tallying your share of distributed credits from the previously mentioned line 14.
7. Sum lines 1 through 3 and enter that total on line 4.
8. Next, find your Nebraska tax liability and record it on line 5, as guided by the specified forms.
9. Enter your Nebraska personal exemption credit on line 6 based on instructions provided for your tax return.
10. Complete lines 7 and 8 with credits for taxes paid to other states and for the elderly or disabled, as instructed.
11. Calculate your total credits by listing any other applicable credits on line 10 and completing the computation on line 11.
12. On line 12, you will enter the actual credit being claimed, using the lesser amount of line 4 or 11.
13. Determine any carryforward amounts for subsequent years and enter this on line 13.
14. If applicable, sections B and C must be filled out for additional partners or shareholders, detailing their information and credit allocation.
15. Once you have completed the form, review all entries for accuracy. Save your changes, and depending on your needs, download, print, or share the completed form.

Complete your Nebraska Community Development Assistance Act form online today!