Main Navigation
Form 68R Recapture of Broadband Equipment Investment Credit
1 Date property placed 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 include the amount of credit 14 Add lines 12 and 13 15 Recapture of broadband equipment investment credit Subtract line 14 from line 11 Enter here and on 2 Cost or other basis 3 Credit percentage 3% 3% 3% 3% 3% 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 68 Form 44 Part II line 2 Do not use this amount to reduce current year's broadband equipment investment from table in instructions in service INVESTMENT CREDIT PROPERTY Multiply line 2 by line 3 Multiply line 4 by line 7 Name(s) as shown on return the current year to qualify transferred Do not enter more than line 11 The amount on this line reduces the carryover available to 06 29 11 10 Pass through share of credit recapture from S corporations partnerships estates or trusts 5 or more 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 Do not include the amount of any credits transferred that must be recaptured EFO00039 EFO00039p2 EQUIPMENT INVESTMENT 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 the number of full years Instructions are for lines not fully explained on the form Instructions for Idaho Form 68R Line 1 Enter the month day and year that the property was first available for service Line 10 Enter the amount of recapture of broadband equipment investment credit 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 12 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 However you will pay tax from recapture of credit transferred Line 15 This is the total increase in tax Enter it on this line and on Form 44 Part II line 2 DO NOT use this amount to reduce your current year's broadband equipment investment credit from Form 68 Line 2 Enter the cost or other basis of the property used to compute the original broadband equipment investment credit 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 ITC property Line 6 Do not enter partial years If the property was held less than 12 months 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 68R 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 broadband equipment investment credit 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 68R or other schedule with the same information as required on Form 68R if you have broadband equipment investment credit recapture on more than five items on Form 68R line 6 is PART I PART I IDENTIFY PROPERTY THAT CEASED TO QUALIFY AS IDAHO BROADBAND EQUIPMENT PART II PART II ORIGINAL IDAHO BROADBAND EQUIPMENT INVESTMENT 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 BROADBAND 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 broadband equipment investment credit 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 Then the recapture percentage is Use Form 68R to compute the increase in tax and reduction to credit carryover for the recapture of broadband equipment investment credit 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 investment tax credit (ITC) property Property moved from Idaho ceases to qualify as ITC property and is subject to recapture