Get Ca Form 3521 2021

This guide provides clear and detailed instructions on how to fill out the CA Form 3521, a crucial document for claiming the low-income housing credit in California. Whether you are new to this process or need a refresher, these step-by-step guidelines will assist you in completing the form accurately and efficiently.

Follow the steps to complete the CA Form 3521 online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Fill in your name(s) as shown on your California tax return in the designated fields, along with your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), California Corporation number, or Federal Employer Identification Number (FEIN).
3. Provide the building identification number (BIN). If there are multiple buildings, ensure to attach a list of all BINs for the credit.
4. Complete Part I by answering whether the eligible basis of any project or building has decreased since the receipt of Form CTCAC 3521A. Mark the appropriate box for 'Yes' or 'No.' If 'Yes,' make sure to complete Part III.
5. Enter the current year credit amount in the provided space. Refer to the instructions for further guidance.
6. If applicable, list any affiliations that provide low-income housing credits from other entities in the designated fields and calculate the total amount of affiliated corporation or pass-through credits.
7. Add the current year credit with the eligible credits from other entities to determine the total available low-income housing credit.
8. Complete Part II by detailing any credit claimed and assigned. Follow the instructions for calculations regarding the credit carryover available for future years.
9. If the eligible basis has decreased, fill out Part III with the required details, including the date the building was placed in service and the eligible basis of the building.
10. Review all entries for accuracy, then save changes, download, print, or share the form as necessary.

Ensure your CA Form 3521 is completed accurately by following these steps online.