Screen WIHR - Wisconsin Historic Rehabilitation Credits (1120)

Show all hidden content

Credit Information

Adjust basis in the building on the first day of the rehabilitation period
Enter the adjusted basis of the building on the first day or the 24-month or 60-month rehabilitation period.

Transfer of Tax Credit

Person eligible to claim the tax credit: First and last name / … / City, state, zip code
Enter the name and address of the person or entity eligible to claim the supplement to the federal historic rehabilitation tax credit. This information transfers to Schedule HR, Page 2, Part III, line 1a.
Current year credit transferred from other taxpayers
Enter the amount of credit transferred from other taxpayers. This amount transfers to Schedule HR, line 5.
note
Only the amount of credit generated in the current year that is being transferred in should be entered on this field.To maintain prior-year carryover information any credit being transferred in or transferred out in the current year that was generated in prior years should fill out the
Transferred in from Other taxpayers
or
Transferred to Other taxpayers
fields in the Carryover (C Corp) section. Amounts entered in these fields will be included in the total on Schedule HR, Part I, line 5 for the
Transferred in from Other taxpayers
field and line 9 for the
Transferred to Other taxpayers
field.
Recipient of transferred tax credit: First and last name / … / Foreign country
Enter the name and address of the person or entity receiving the supplement to the federal historic rehabilitation tax credit. This information transfers to Schedule HR, Page 2, Part III, line 1b.
Current year credit transferred to other taxpayers (C Corp)
Enter the amount of credit being transferred to other taxpayers. This information transfers to Schedule ED, Part I, line 7.
note
Only the amount of credit generated in the current year that is being transferred should be entered in this field. To maintain prior-year carryover information, any credit being transferred in or transferred out in the current year that was generated in prior years should populate the
Transferred in from Other taxpayers
or
Transferred to Other taxpayers
fields in the Carryover (C Corp) section. Amounts entered in these fields will be included in the total on Schedule HR, Part I, line 7 for the
Transferred in from Other taxpayers
field and line 9 for the
Transferred to Other taxpayers
field.
Transferred in from Other taxpayers
Enter the amount of prior-year credit that is being transferred to the corporation in the current year. This amount is included in the total on Schedule HR, Part I, line 7. Amounts entered in these fields will increase the available carryover for Schedule HR. For further information, see the instructions for Schedule HR and Schedule CF.
Transferred to Other taxpayers
Enter the amount of prior-year credit that is being transferred in the current year. This amount is included in the total on Schedule HR, Part I, line 9. Amounts entered in these fields will reduce the available carryover for Schedule HR. For further information, see the instructions for Schedule HR and Schedule CF.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close