Screen IDITC-2 - Idaho Investment Tax Credit and Recapture (1040)

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Overview

UltraTax CS uses the information in this section to calculate the investment tax credit.

General Information

Qualified investments acquired during the year
Assets marked as qualified for the Idaho investment tax credit in the asset module automatically transfer to this statement window. To mark an asset as qualifying for the Idaho ITC, access the asset module, either add or edit an asset, and select
Other
,
Credit Information
, then
Idaho investment tax credit
.

Recapture

Property that ceased to qualify as Idaho Investment Tax Credit property
A statement window has been provided to enter the type of property, date placed in service, basis, and the date property ceased to qualify. UltraTax/1040-ID automatically completes Form 49R based on data entered in this field.

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