Form 83R Recapture of Idaho Small Employer Investment Tax Credit

1 Date property placed in 10 Pass through share of credit recapture from S corporations partnerships estates or trusts 11 Add lines 9 and 10 12 Credit recapture distributed to shareholders partners or beneficiaries 13 Enter the portion of original credit on line 4 not used to offset any tax Do not enter more 14 Add lines 12 and 13 15 Recapture of small employer investment tax credit Subtract line 14 from line 11 Enter here and on 2 Cost or other basis 3 Credit percentage 3 75% 3 75% 3 75% 3 75% 3 75% 4 Original credit 5 Date property ceased 6 Number of full years 7 Recapture percentage 8 Tentative recapture tax 9 Add line 8 columns A through E A B C D E and the date on line 5 between the date on line 1 credit computed on Form 83 Form 44 Part II line 3 Do not use this amount to reduce current year's small employer investment tax from table in instructions INVESTMENT TAX CREDIT PROPERTY Multiply line 2 by line 3 Multiply line 4 by line 7 Name(s) as shown on return service than line 11 The amount on this line reduces the carryover available to the current year to qualify 06 29 11 A partner's proportionate interest in the general profits of the partnership (or in a particular item of property) is reduced A trust's estate's or beneficiary's proportionate interest in the income of the trust or estate is reduced An S corporation shareholder's interest is reduced by a sale redemption or other disposition of the shareholder's stock or by the corporation's issuance of more shares Any resulting tax from recapture of credits claimed in prior years must be added to the tax otherwise determined in the year of recapture Recapture of credits not claimed in prior years reduces the amount of credit carryover available to the current year Compute the unused portion of the original credit on a separate sheet and enter it on this line Do not enter more than the tax from recapture on line 11 EFO00012 EFO00012p2 EMPLOYER INVESTMENT TAX CREDIT GENERAL INSTRUCTIONS If recapture is necessary due to a reduction of a shareholder's proportionate stock interest in an S corporation reduction in the interest in the general profits of a partnership or reduction in the proportionate interest in the income of the trust or estate include that recapture on line 10 as well If you claimed the SE ITC in an earlier year and fail to meet the tax incentive criteria you certified to on Idaho Form 89SE you must recapture all the SE ITC claimed in the earlier years Instructions are for lines not fully explained on the form Instructions for Idaho Form 83R Line 1 Enter the month day and year that the property was first available for service Line 10 Enter the amount of recapture of SE ITC that is being passed to you from S corporations partnerships estates and trusts This amount is reported on Form ID K 1 Part D line 14 Line 11 Add lines 9 and 10 to determine the amount of credit subject to recapture Line 12 If you are a partnership S corporation trust or estate enter the amount of credit recapture that passed through to partners shareholders or beneficiaries Do not include any recapture on this line for partners shareholders or beneficiaries for whom you are paying the tax Line 13 If you did not use all the credit you originally computed either in the year earned or in a carryover year you will not have to pay tax from recapture of the amount of the credit you did not use Line 15 This is the total increase in tax Enter it on this line and on Form 44 Part II line 3 DO NOT use this amount to reduce your current year's SE ITC from Form 83 Line 2 Enter the cost or other basis of the property used to compute the original SE ITC Line 4 Multiply line 2 by line 3 to compute the credit originally earned for each property listed Line 5 Enter the month day and year the property ceased to qualify as SE ITC property Line 6 Do not enter partial years If the property was held less than 12 months enter zero If you failed to meet the tax incentive criteria enter zero Line 7 Enter the appropriate recapture percentage from the following table Line 9 Add all amounts on line 8 If you have used more than one Form 83R or separate sheets to list additional items on which you computed an increase in tax write to the left of the entry space "Tax from attached" and the total tax from the separate sheets Include the amount in the total for line 9 Lines A through E Describe the property for which you must recompute the SE ITC Fill in lines 1 through 8 in Parts II and III for each property on which you are recomputing the credit Use a separate column for each item Use an additional Form 83R or other schedule with the same information as required on Form 83R if you have SE ITC recapture on more than five items PART I PART I IDENTIFY PROPERTY THAT CEASED TO QUALIFY AS IDAHO SMALL EMPLOYER PART II PART II ORIGINAL IDAHO SMALL EMPLOYER INVESTMENT TAX CREDIT PART III PART III COMPUTATION OF RECAPTURE TAX Partners shareholders and beneficiaries will use the information provided by the partnership S corporation trust or estate to report their pass through share of the credit to be recaptured on line 10 If the only recapture you are reporting is from a pass through entity skip lines 1 through 9 and begin on line 10 Properties Property Description Recapture may be necessary when: RECAPTURE OF IDAHO SMALL S corporations partnerships estates and trusts that have credit subject to recapture must complete lines 1 through 9 to determine the amount of credit recapture S corporations partnerships estates and trusts that pass through SE ITC to the shareholders partners or beneficiaries must provide Form ID K 1 reporting the recapture amount and including in Part E Supplemental Information details on the year(s) the credit being recaptured was originally earned Social Security Number or EIN SPECIFIC INSTRUCTIONS Use Form 83R to compute the increase in tax and reduction to credit carryover for the recapture of the small employer investment tax credit (SE ITC) You must recompute the credit if you earned it in an earlier year but disposed of the property before the end of the five year recapture period You must also recompute the credit on any property ceasing to qualify as SE ITC property Property moved from Idaho ceases to qualify as SE ITC property and is subject to recapture