Form 332 Instructions - Credits For Healthy Forest Enterprises

Arizona Form 332

Each partner is entitled to only a pro rata share of each credit

training credit, add the amounts on Part 11, line 47, and

based on the partner’s ownership interest in the partnership.

Part 12, line 53. Enter the total on Form 300, Part 2,

The total of each credit allowed to all partners may not exceed the

line 27.)

amount that would have been allowed for a sole owner.

For additional guidance, refer to Examples 1 and 2 following the

instructions for line 53.

NOTE: Trusts and estates which are partners in a partnership

Part 12 - Recapture Summary for Training Credit

are not eligible to claim these credits. However, the share of a

partnership owned by a grantor trust that is disregarded for

Use lines 48 through 53 to determine whether you have any

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

allowable training credit remaining, even if you have to recapture

The grantor may claim his or her share of these credits.

some of it.

Line 48 -

Part 11 - Recapture Summary for Employment

Credit

Enter the taxable year(s) in which you took a training credit or

credit carryover for the disqualified healthy forest enterprise.

Use lines 42 through 47 to determine whether you have any

Line 49 -

allowable employment credit remaining, even if you have to

recapture some of it.

Enter the total amount of training credit originally allowed for the

disqualified healthy forest enterprise.

Line 42 -

Line 50 -

Enter the taxable year(s) in which you took an employment credit

or credit carryover for the disqualified healthy forest enterprise.

Enter the amount from Part 8, line 39. This is the total amount of

the training credit to be recaptured.

Line 43 -

Line 51 -

Enter the total amount of employment credit originally allowed

for the disqualified healthy forest enterprise.

Subtract line 50 from line 49. Enter the difference. This is the

amount of training credit allowable for the disqualified healthy

Line 44 -

forest enterprise.

Enter the amount from Part 7, line 31. This is the total amount of

Line 52 -

the employment credit to be recaptured.

Enter the amount of training credit on line 49 that you claimed on

Line 45 -

prior taxable year’s returns.

Subtract line 44 from line 43. Enter the difference. This is the

Line 53 -

amount of employment credit allowable for the disqualified

healthy forest enterprise.

Subtract line 52 from line 51. Enter the difference.

Line 46 -

If the difference is POSITIVE:

•

This is the amount of training credit carryover you have

Enter the amount of employment credit on line 43 that you

remaining for use in future years.

claimed on prior taxable year’s returns.

•

Adjust the amounts in column (d) in Part 14, lines 60 through

Line 47 -

64 so the total amount on line 65 equals the amount of the

Subtract line 46 from line 45. Enter the difference.

credit carryover remaining for use in future years.

If the difference is POSITIVE:

If the difference is NEGATIVE:

•

This is the amount of employment credit carryover you have

•

This is the amount of training credit you must recapture.

remaining for use in future years.

•

Adjust the amounts in Part 14, lines 60 through 64, column

•

Adjust the amounts in column (d) in Part 13, lines 54 through

(d) to zero, “0”. There is no carryover amount of the

58 so the total amount on line 59 equals the amount of the

employment credit.

credit carryover remaining for use in future years.

Individuals: Also, enter this amount as a POSITIVE

If the difference is NEGATIVE:

number on Form 301, Part 2, line 36. (If you have a

•

This is the amount of employment credit you must recapture.

recapture of the training credit and the employment

•

Adjust the amounts in Part 13, lines 54 through 58, column

credit, and the amounts on Part 12, line 53 and Part 11,

(d) to zero, “0”. There is no carryover amount for the

line 47. Enter that total on Form 301, Part 2, line 36.)

employment credit.

Corporations (including S corporations that claimed the

Individuals: Also, enter this amount as a POSITIVE

training credit at the corporate level), and exempt

number on Form 301, Part 2, line 36. (If you have a

organizations with UBTI: Also, enter this amount as a

recapture of the employment credit and the training

POSITIVE number on Form 300, Part 2, line 27. (If

credit, and the amounts on Part 11, line 47 and Part 12,

you have a recapture of the employment credit and the

line 53. Enter that total on Form 301, Part 2, line 36.)

training credit, add the amounts on Part 12, line 53, and

Corporations (including S corporations that claimed the

Part 11, line 47. Enter the total on Form 300, Part 2,

training credit at the corporate level), and exempt

line 27.)

organizations with UBTI: Also, enter this amount as a

For additional guidance, refer to Examples 1 and 2 on the

POSITIVE number on Form 300, Part 2, line 27. (If

following pages.

you have a recapture of the employment credit and the

Form 332 Instructions - Credits For Healthy Forest Enterprises - 2016 Page 6

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