Form 332 Instructions - Credits For Healthy Forest Enterprises

Arizona Form 332

Part 3 - Credit Recapture

Form 332-P, Partner’s Portion of the

Line 8 -

Credit

Enter the total amount of the partnership’s employment credit

Enter the taxable year from which this credit is being passed

previously passed through to the partner.

through to your partners.

Line 9 -

Complete Form 332-P for each partner of the partnership, except

Enter the percentage of the employment credit amount previously

for trust or estate partners. However, a partnership ownership

passed through that is subject to recapture from Form 332, Part 7,

share that is owned by a grantor trust that is disregarded for

line 27.

federal income tax purposes is treated as owned by the grantor.

Line 10 -

The grantor may claim his or her share of the credit.

Multiply line 8 by the percentage on line 9. Enter the result.

The partnership must furnish each partner with their completed

•

Partners: Enter this amount on your Form 332, Part 7, line

copy of Form 332-P, including additional schedules as needed.

30.

Part 1 - Partnership and Partner Information

NOTE: If you have recapture amounts for the employment credit

Line 1 -

from more than one source, calculate each recapture amount

Enter the partnership name and Employer Identification Number

separately. Total the amounts subject to recapture and enter that

(EIN) in the spaces provided

amount on line 10.

Line 2 -

Line 11 -

Enter the partner’s name, EIN, TIN, or Social Security Number,

Enter the total amount of the partnership’s training credit that was

and ownership percentage in the spaces provided.

previously passed through to the partner.

Line 3 -

Line 12 -

If the name and EIN of the partnership is different from the name

Enter the percentage of the training credit amount that was

and EIN of the Healthy Forest Enterprise, enter the name and EIN

previously passed through that is subject to recapture from Form

of the Healthy Forest Enterprise in the spaces provided. If the

332, Part 8, line 35.

name and EIN of the partnership is the same as the name and EIN

Line 13 -

of the Healthy Forest Enterprise, indicate, “SAME”.

Multiply line 11 by the percentage on line 12. Enter the result.

Part 2 - Distribution of the Credit

•

Partners: Enter this amount on your Form 332, Part 8, line

Line 4 -

38.

Enter the amount of the partnership’s employment credit from

NOTE: If you have recapture amounts for the training credit

Form 332, Part 5, line 18, column (d).

from more than one source, calculate each recapture amount

Line 5 -

separately. Total the amounts subject to recapture and enter that

Multiply line 4 by the percentage on line 2(c), column (c). Enter

amount on line 13.

the result. This is the partner’s portion of the employment credit.

Line 6 -

Each partner will use this form to complete his or her own Form

Enter the amount of the partnership’s training credit from Form

332.

332, Part 6, line 23, column (d).

Line 7 -

Multiply line 6 by the percentage on line 2(c). Enter the result.

This is the partner’s portion of the training

Form 332 Instructions - Credits For Healthy Forest Enterprises - 2016 Page 11

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