ProConnect HelpIntuit HelpIntuit

North Carolina Credits including Forms D-400TC and 478

SOLVEDby IntuitLacerte Tax2Updated July 13, 2022

Form D-400TC Individual Income Tax Credits

  • Part 1 - Credit for Income Tax Paid to Another State or Country - NC Residents Only - Use Screen 52.241, North Carolina Other State Tax Credit, to enter information for this credit. On multi-state returns with North Carolina as the resident state for the entire year, this credit is calculated automatically. See Common questions about the Other State Tax Credit for more information.
  • Part 2 - Credits for Rehabilitating Historic Structures - Use Screen 53.241, North Carolina Credits (Form D-400TC) to enter amounts for this credit. Enter the amounts in the applicable sections to flow to the corresponding line on the Form D-400TC.
  • Other North Carolina Credits - Use Screen 53.241, North Carolina Credits (Form D-400TC) to enter the North Carolina credit carryover to enter the carryovers from previous years. You must attach a manually prepared statement showing calculation of the credit. This entry prints on Form D-400TC.

Form 478 - Summary of Tax Credits Limited to 50% of Tax

Use Screen 53.242, North Carolina 478 Credits, to enter amounts for the NC-478.

NC-478 Schedule - Pass-Through Schedule for NC-478 Series

  • P/S(Ctrl+E) - Enter P or S to designate the type of entity that has passed-through the credit. Enter a “P” if the entity was a pass-through (such as an LLC, partnership, or S-corporation that qualified for the credit) or an “S” if the entity was a Successor Business (a business that has changed owners since qualification for the credit).
  • Article 3J tax credit elected to treat as a tax payment - If the business or individual took a tax credit on Form NC-478, Part 3, of any Article 3J Credits and received the credit(s) from a pass-through entity, enter the amount of credit(s) you elect to treat as a tax payment pursuant to G.S 105-129.84(e).

Tax Credit Summary (Form NC-478) entries - NC-478 credits may no longer be manually prepared and submitted with the summary sheet. All NC-478 forms must be computer-generated from this package.

  • Credit for creating jobs (Article 3J) [O] - The program automatically calculates the credit available on Forms NC-478A-L. Enter an amount to override this calculation. This amount prints on Form NC-478, Part 3.
  • Credit for research and development - Article 3A (NC-478C) carryover - The program automatically calculates the credit available on Forms NC-478A-L.  Enter an amount to override this calculation.  This amount prints on Form NC-478, Part 1.
  • Credit for research and development - Article 3F (NC-478) [O] - The program automatically calculates the credit available on Forms NC-478A-L. Enter an amount to override this calculation. This amount prints on Form NC-478, Part 1.
  • Credit for investing in business property (NC-478)[O] - The program automatically calculates the credit available on Forms NC-478A-L. Enter an amount to override this calculation. This amount prints on Form NC-478, Part 3.
  • Credit for investing in renewable energy property (NC-478G)[O] - The program automatically calculates the credit available on Forms NC-478A-L. Enter an amount to override this calculation. This amount prints on Form NC-478, Part 1.
  • Credit for technology commercialization - Enter the amount of credit claimed against income tax for technology commercialization. This amount prints on the NC-478, line 9I.
  • Credit for renewable fuel facility - Enter the amount of credit claimed against income tax for a renewable fuel facility. This amount prints on the NC-478, line 11I.
  • Credit for constructing a railroad intermodal facility - The program automatically calculates the credit available on Forms NC-478A-L. Enter an amount to override this calculation. This amount prints on Form NC-478, Part 3.
  • Credit for investing in real property (NC-478L [O] - The program automatically calculates the credit available on Forms NC-478A-L. Enter an amount to override this calculation. This amount prints on Form NC-478, Part 3.
  • Donate funds to nonprofit organization credit - Enter the amount credit claimed for donated funds to nonprofit organizations. This amount prints on Form NC-478, Part 1.
  • Credit for renewable energy property facility - The program automatically calculates the credit available on Forms NC-478A-L. Enter an amount to override this calculation. This amount prints on Form NC-478, Part 1.
  • Credit for interactive digital media (NC-478I)[O] - The program automatically calculates the credit available on Forms NC-478A-L.  Enter an amount to override this calculation.  This amount prints on Form NC-478, Part 1.
  • Other Credits - Substantial investment - Enter the amount to flow to Line 13I Other Income Tax Credits Subject to 50% Limit - Substantial Invest of Form NC-478.

Select Tier/Year Entry on the left middle panel to enter credit information for prior years for Form NC-478G and Form NC-478-L. Click Add for additional years. The Year information is mandatory for the year the credit applies.

Was this helpful?

You must sign in to vote, reply, or post
Lacerte Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.