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  • Form 4255 (rev. August 2000). Recapture Of Investment Credit

Get Form 4255 (rev. August 2000). Recapture Of Investment Credit

N return Properties OMB No. 1545-0166 65 Identifying number Type of property State whether rehabilitation, energy, reforestation, or transition property. (See the Instructions for Form 3468 for the year the investment credit property was placed in service for definitions.) If rehabilitation property, also show type of building. If energy property, show type. A B C D Original Investment Credit 1 2 3 4 5 6 Computation Steps: (see Specific Instructions) Original rate of credit Cost or ot.

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Related content

Schedule 4255 Instructions - Illinois Department...
Use this form to figure the amount of recaptured credit that you must add to this year's...
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Publication 542 (Rev. January 2019)
Feb 14, 2019 — • Investment credit (see the Instructions for Form 4255). •...
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2016 Instruction 1040
Dec 15, 2016 — The Marketplace is required to send Form 1095-A by January 31 ... Form...
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You must file Schedule 4255 if you claimed an additional income tax credit (i.e., Angel Investment Credit, Economic Development for a Growing Economy (EDGE) Credit, New Construction EDGE Credit, New Markets Development, or Historic Preservation Credit) against your Illinois income tax liability in a previous year and ...

Recapture Risk – The full value of the ITC is earned once a project is placed in service. Then, for a five-year compliance period, the tax credit is subject to recapture if (1) the property ceases to be a qualified energy facility, or (2) a change in ownership occurs.

Investment tax credits are basically a federal tax incentive for business investment. They let individuals or businesses deduct a certain percentage of investment costs from their taxes. These credits are in addition to normal allowances for depreciation.

[31] Individuals and for-profit corporations eligible for the ITC and PTC may only use them against federal taxes owed in a given year and therefore the credits are not refundable (though they may be rolled forward).

If you're in the situation where you have to file IRS Form 4255, you might have to pay back a tax credit you've earned in prior years. This process, known as recapture, occurs if you claim a credit—in this case, a credit for a specific type of business investment—and then no longer qualify for that credit.

IRC Section 50(a)(1) generally allows for the recapture of some amount of the ITC claimed if, during any tax year, investment credit property is disposed of or otherwise ceases to be investment credit property with respect to the taxpayer before the close of the recapture period.

Use Form 4255 to figure the increase in tax for the recapture of investment credit claimed. Credit Recapture Requirements and Special. Rules. Generally, you must refigure the investment credit and may have to recapture all or part of it if any of the following apply.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232