Schedule Ct-It Credit - Income Tax Credit Summary

• Have received a certiﬁ cation letter from the Department

Line 6 - Angel investor credit

Attach Form CT-8801 to your return if a paper return

of Economic and Community Development (DECD)

is ﬁ led.

Column B: Enter the amount from your 2010 Schedule

indicating that you have the qualiﬁ ed small business

CT-IT Credit, Line 6, Column E.

Do not enter any amount if you have an alternative

job creation tax credit or the vocational rehabilitation

minimum tax liability on Form CT-1040, Line 9; Form

Column C: Enter the amount earned during 2011.

job creation tax credit available to be claimed.

CT-1040NR/PY, Line 13; Form CT-1040X, Line 13; or

This is the amount on the credit certiﬁ cation from

Keep a copy of Form CT-1120 SBJ or Form CT-1120

Form CT-1041, Line 6. You are not allowed a credit

Connecticut Innovations Inc., Schedule CT K-1,

VRJ, or both, for your records. You may be asked to

for a prior year alternative minimum tax if you have

Schedule CT-1041 K-1, or the Worksheet for Schedule

provide a copy to DRS at a later date.

an alternative minimum tax liability in the 2011 taxable

CT-IT Credit.

year.

These forms can be downloaded from the DRS

Column D: Enter the amount applied to your 2011

website at

Column E: Subtract Column D from the total of

income tax liability. Do not enter more than the amount

Column B and Column C.

on Line 5, Column A.

Line 1, Column A

Enter the 2011 income tax liability from Form

Column E: Subtract Column D from Column C.

Part II Tax Credit Reported by Pass-

CT-1040, Line 12; Form CT-1040NR/PY, Line 14; Form

Line 8 - Insurance reinvestment fund credit

Through Entity on Schedule CT K-1 or

CT-1040X, Line 16; or Form CT-1041, Line 7.

Column B: Enter the amount from your 2010 Schedule

by a Trust or Estate on Schedule CT-

Line 2 - Qualiﬁ ed small business job creation credit

CT-IT Credit, Line 8, Column E.

1041 K-1

Column C: Enter the amount earned during 2011.

Column C: Enter the amount from your 2011 Form

ndividual, trust, or estate

This is the amount calculated on Form CT-1120 SBJ,

CT-IRF, Line 6.

Schedule CT K-1, Schedule CT-1041 K-1, or the

An individual, trust, or estate who is a member of a

Column D: Enter the amount applied to your 2011

Worksheet for Schedule CT-IT Credit.

pass-through entity or a beneﬁ ciary of a trust or estate

income tax liability. Do not enter more than the amount

must complete Part II of this schedule.

Column D: Enter the amount applied to your 2011

on Line 7, Column A.

income tax liability. Enter the lesser of Line 2,

For each credit reported to the individual, trust, or

Column E: Enter the amount from your 2011 Form

Column C, or Line 1, Column A.

estate on Schedule CT K-1 or Schedule CT-1041

CT-IRF, Part II, Line 8. Attach Form CT-IRF to your

K-1, enter in Column A the type of credit reported.

Line 4 - Vocational rehabilitation job creation credit

return if a paper return is ﬁ led.

Enter in Columns B and C respectively the name and

Column C: Enter the amount earned during 2011.

Line 10 - Credit for prior year alternative minimum

federal employer identiﬁ cation number (FEIN) of the

This is the amount calculated on Form CT-1120 VRJ,

tax

pass-through entity as it appears on Schedule

Schedule CT K-1, Schedule CT-1041 K-1, or the

CT K-1 or the name and FEIN of the trust or estate

Column B: Enter the amount from your 2010 Schedule

Worksheet for Schedule CT-IT Credit.

as it appears on Schedule CT-1041 K-1. Enter the

CT-IT Credit, Line 10, Column E.

Column D: Enter the amount applied to your 2011

amount of each credit in Column D. Attach additional

Column C: Enter the amount from your 2011 Form

income tax liability. Enter the lesser of Line 4,

schedules as needed.

CT-8801, Part II, Line 24.

Column C, or Line 3, Column A.

Column D: Enter the amount from your 2011 Form

CT-8801, Part II, Line 30, or the amount from Schedule

CT-IT Credit, Column A, Line 9, whichever is less.

Schedule CT-IT Credit (Rev. 01/12)

Page 3 of 3

Schedule Ct-It Credit - Income Tax Credit Summary - 2011 Page 3

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