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Screen 8609 - Annual Statement for Low-Income Housing Credit (1065)

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Overview

Enter a separate unit for each building identification number.

General and Compliance Information

Type of low-income housing property
Enter the appropriate code to indicate how the property is treated under IRC section 42(j)(5) for Form 8586 and Schedules K and K-1. This field is mandatory. The available codes are listed in the table that follows and in the drop-down list.
Code
Description
Schedules K and K-1 Location
Form 8586 Location
A
Section 42(j)(5) pre-2008
Schedule K, line 15a and Schedule K-1, box 15, code A
Form 8586, Part I
B
Other pre-2008
Schedule K, line 15b and Schedule K-1, box 15, code B
Form 8586, Part I
C
Section 42(j)(5) post-2007
Schedule K, line 15a and Schedule K-1, box 15, code C
Form 8586, Part II
D
Other post-2007
Schedule K, line 15b and Schedule K-1, box 15, code D
Form 8586, Part II

Computation of Credit

Date building placed in service
Enter the date the building was placed in service. The application uses this date and the
Begin credit period the first year after in service (section 42(f)(1))
 field to determine the applicable credit period for calculating Form 8609-A, lines 3 and 5.
Begin credit period the first year after in service (section 42(f)(1))
Enter
X
 if the credit period will begin the first year after the date the property was placed in service. The application uses this field and the
Date building placed in service
 field to determine the applicable credit period for calculating Form 8609-A, lines 3 and 5.
Additions to qualified basis
Enter the additions to qualified basis, if any. If you leave this field blank, the application leaves Form 8609-A, lines 7 through 12 blank and enters the amount from line 6 on line 13.
Part-year adjustment for disposition or acquisition during tax year / Section 42(f)(3)(B) modification
Enter information for Form 8609-A in these fields if there are any additions to qualified basis. If you leave the
Additions to qualified basis
 field blank, the application ignores the information in these fields.

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