Get Tc69r03-2 Recapt Of Id Incentiv Itc 6-07-04 Route4zap. Tc69r03-2 Recapt Of Id Incentiv Itc 6-07-04

The TC69R03-2 Recapt Of Id Incentiv ITC 6-07-04 form is essential for individuals and businesses to report the recapture of Idaho Incentive Investment Tax Credit. This guide provides a clear, step-by-step approach to completing this form online, ensuring accurate and effective submission.

Follow the steps to successfully complete the TC69R03-2 Recapt Of Id Incentiv ITC 6-07-04.

1. Click the ‘Get Form’ button to obtain the form and open it in your preferred online editor.
2. Enter the calendar or fiscal year in which the property ceased to qualify for the tax credit. Fill in the month, day, and year as appropriate.
3. Provide your name or the name of the business as shown on the tax return, along with the corresponding social security number or employer identification number (EIN).
4. In Part I, list the properties that have ceased to qualify as Idaho incentive investment tax credit property. Fill out the property description for each item listed (Lines A through E).
5. In Part II, report the original Idaho incentive investment tax credit details. For each property, fill out the date placed in service, the cost or other basis, the incentive ITC rate, the original credit, and the date property ceased to qualify.
6. Follow the instructions provided for Part III to compute the recapture tax. Begin by determining the recapture percentage based on the table provided for the time held and/or time qualifying.
7. Complete the calculations as indicated, including the tentative recapture tax, total recapture amounts, and any relevant passes-through shares from partnerships or S corporations. Be sure to indicate the portion of original credit not used to offset tax.
8. After completing all sections, review the information for accuracy. Make any necessary corrections before finalizing.
9. Save changes, download, print, or share the completed form based on your requirements for submission.

Start filling out your TC69R03-2 Recapt Of Id Incentiv ITC 6-07-04 online today for timely reporting.