Screen 8609-2 - Low-Income Housing Credit Allocation and Certification (1120)

Allocation of Credit

The application defaults to the product of the maximum qualified basis of the building multiplied by the maximum applicable credit percentage allowable.

First Year Certification

This field is only completed if the building allocation description is newly constructed and federally subsidized or the section 42(e) rehabilitation expenditures are federally subsidized.
Owners of buildings in projects located in New York City may not use the 40-60 percent test. Instead, they may use the 25-60 percent test, which is for NYC buildings only.
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