Form N-342a - Information Statement - 2011 Page 2
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1
2Form N-342A
(REV. 2011)
Page 2
19. Enter the amount from line 3 that is installed and placed in service in Hawaii on multi-family
residential property. .................................................................................................................
19
20. Divide the total square feet of your unit by the total square feet of all units in the multi-family
20
residential property. Enter the decimal (rounded to 2 decimal places). (See instructions.). ......
21. Actual per unit cost of the solar energy system. (Multiply line 19 by line 20 and enter result.).
21
22. Enter 35% of line 21 or $350, whichever is less. .......................................................................
22
23. Multiply line 22 by the number of units you own to which the allocated unit cost on line 21
is applicable. (Number of units you own __________ ). .............................................................................................................
23
24. Enter the amount from line 3 that is installed and placed in service in Hawaii on commercial
property. ....................................................................................................................................
24
25. Enter 35% of line 24 or $500,000, whichever is less. .................................................................................................................
25
26. Add lines 18, 23, and 25, and enter result (but not less than zero). ...........................................................................................
26
WIND-POWERED ENERGY SYSTEM
Enter date system was installed and placed in service
____/____/____
27. Enter your total cost of the qualified wind-powered energy system installed and placed in
service in Hawaii. ......................................................................................................................
27
28. Enter the amount of consumer incentive premiums, costs used for other credits, and utility
rebate, if any, received for the qualifying wind-powered energy system. ..................................
28
29. Actual cost of the wind-powered energy system (Subtract line 28 from line 27 and enter result.). ........
29
30. Enter the amount from line 29 that is installed and placed in service in Hawaii on
single-family residential property. ..........................................................................................
30
31. Enter 20% of line 30 or $1,500, whichever is less. .....................................................................................................................
31
32. Enter the amount from line 29 that is installed and placed in service in Hawaii on multi-family
residential property. .................................................................................................................
32
33. Divide the total square feet of your unit by the total square feet of all units in the multi-family
33
residential property. Enter the decimal (rounded to 2 decimal places). (See instructions.). ......
34. Actual per unit cost of the wind-powered energy system. (Multiply line 32 by line 33 and
enter result.). .............................................................................................................................
34
35. Enter 20% of line 34 or $200, whichever is less .......................................................................
35
36. Multiply line 35 by the number of units you own to which the allocated unit cost on line 34
36
is applicable. (Number of units you own __________ ). .............................................................................................................
37. Enter the amount from line 29 that is installed and placed in service in Hawaii on commercial
property. ....................................................................................................................................
37
38. Enter 20% of line 37 or $500,000, whichever is less. .................................................................................................................
38
39. Add lines 31, 36, and 38, and enter result (but not less than zero). ...........................................................................................
39
TOTAL AND DISTRIBUTIVE SHARE OF RENEWABLE ENERGY TECHNOLOGIES INCOME TAX CREDIT
40. Total tax credit claimed. Enter the amount from line 14, 26, or 39. ............................................................................................
40
41. Distributive share of solar energy tax credit. Each shareholder, partner, member, or beneficiary shall enter this amount
on Form N-342, line 40. .............................................................................................................................................................
41
42. Distributive share of wind-powered energy tax credit. Each shareholder, partner, member, or beneficiary shall enter this
42
amount on Form N-342, line 41..................................................................................................................................................
GENERAL INSTRUCTIONS
Total square feet of your unit
For requirements for claiming the renewable energy technologies income
Total square feet of all units
x The actual cost
tax credit and definitions, see the Instructions for Form N-342.
in the multi-family
of the system
residential property
SPECIFIC INSTRUCTIONS
Complete one Form N-342A for each individual and corporate shareholder,
If the above per unit cost calculation does not fairly represent the owners’
partner, member, or beneficiary receiving a distributive share of the renewable
contribution to the cost of the system, provide an alternative calculation.
energy technologies income tax credit. Use a separate form for each eligible
Line 41 — Distributive share of solar energy tax credit. Each individual
system. Attach a copy of the Forms N-342A as issued to each partner, member,
and corporate shareholder, partner, member, or beneficiary of an S corporation,
beneficiary, or shareholder to the return of the S corporation, partnership,
partnership, estate, trust, or condominium apartment association receiving a
estate, trust, or condominium apartment association.
Form N-342A must enter this amount on Form N-342, line 40. Both the Form
Be sure to enter the date the system was installed and placed in service in
N-342 and a copy of the Form N-342A must be attached to the individual or
the appropriate space.
corporate income tax return on which the credit is claimed.
Lines 1 through 40 — Fill in the lines as they apply to your claim.
Line 42 — Distributive share of wind-powered energy tax credit. Each
individual and corporate shareholder, partner, member, or beneficiary of an S
Lines 8, 20, and 33 –– The per unit cost of a solar or wind-powered energy
corporation, partnership, estate, trust, or condominium apartment association
system installed and placed in service in Hawaii in a multi-family residential
receiving a Form N-342A must enter this amount on Form N-342, line 41.
property may be determined as follows:
Both the Form N-342 and a copy of the Form N-342A must be attached to the
individual or corporate income tax return on which the credit is claimed.
FORM N-342A
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