This article will assist you with generating Form 8611, Recapture of Low Income Housing Credit, in the Corporate and Individual returns.
To generate Form 8611 in the Corporate return:
- From the Input Return tab, go to Credits ⮕ General Business Credits (3800) ⮕ Low Income Housing Credit.
- Enter the Kind of building.
- Enter Address of Building, Street, City, State, and ZIP Code.
- Enter Building identification number.
- This must be 9 letters or numbers.
- Enter the Date placed in service.
- Enter any other applicable information in this section.
- Scroll down to the Recapture of Low Income Housing Credit (8611) section.
- Enter the dollar amounts in any of the applicable fields:
- Credits reported in prior years
- Credits attributable to additions to qualified basis
- Recaptures from prior years
- Recapture amount from flow-through entity
To generate Form 8611 in the Individual return:
- From the Input Return tab, go to Credits ⮕ General Business and Vehicle Cr.
- Go to the Low Incoming Housing tab at the top of the input screen.
- Scroll down to the Recapture of Low-Income Housing Credit (8611) section.
- Enter the applicable information.