Form 331 Draft - Credit For Donation Of School Site

Credit for Donation of School Site

ARIZONA FORM

2008

331

For the calendar year 2008 or

M M D D Y Y Y Y

ﬁ scal year beginning

and ending

Attach to your return.

Name(s) as shown on Form 140, 140PY, 140NR, 140X, 120, 120A, 120S, 120X, or 165

Social security number or employer identiﬁ cation number

The donated real property and improvements must be located in Arizona. The credit is in lieu of a deduction for the donation of the property for which the credit is

claimed. See instructions.

Part I

Donated Property Information and Current Taxable Year’s Credit Calculation

Property 1

Property 2

Property 3

1 Arizona county in which the property is located .........................

2 Parcel number of property ..........................................................

3 Date of property conveyance ......................................................

4 Recording number of property conveyance ................................

5 Value of property based on appraisal .........................................

6 Multiply the amounts on line 5 in each column by

30 percent (.30) ..........................................................................

7 Add the amounts on line 6 in each column - enter the total ..............................................................................................................

8 Total from continuation sheets, if applicable .....................................................................................................................................

9 Current taxable year’s credit - add lines 7 and 8 ..............................................................................................................................

Part II

S Corporation Credit Election and Shareholder’s Share of Credit

10 The S corporation has made an irrevocable election for the taxable year ending ______/______/________ to:

YYYY

(CHECK ONLY ONE BOX)

Claim the credit for donation of school site as shown on Part I, line 9 (for the taxable year mentioned above);

Pass the credit for donation of school site as shown on Part I, line 9 (for the taxable year mentioned above) through to its shareholders.

Signature

Title

Date

If passing the credit through to the shareholders, complete lines 11 through 13 separately for each shareholder.

Furnish each shareholder with a copy of the completed Form 331.

11 Name of shareholder

12 Shareholder’s TIN

13 Shareholder’s share of amount on Part I, line 9 .............................................................................................................................

Part III

Partner’s Share of Credit

Complete lines 14 through 16 separately for each partner.

Furnish each partner with a copy of the completed Form 331.

14 Name of partner

15 Partner’s TIN

16 Partner’s share of amount on Part I, line 9 .....................................................................................................................................

DRAFT 8/20/08

ADOR 91-5329 (08)

Form 331 Draft - Credit For Donation Of School Site - 2008

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