Form 83r - Recapture Of Idaho Small Employer Investment Tax Credit Page 2
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Instructions for Idaho Form 83R
06-17-13
GENERAL INSTRUCTIONS
Line 4. Multiply line 2 by line 3 to compute the credit originally
earned for each property listed.
Use Form 83R to compute the increase in tax and reduction to
credit carryover for the recapture of the small employer investment
Line 5. Enter the month, day, and year the property ceased to
tax credit (SE-ITC).
qualify as SE-ITC property.
If you claimed the SE-ITC in an earlier year and fail to meet the
Line 6. Do not enter partial years. If the property was held
tax incentive criteria you certified to on Idaho Form 89SE, you
less than 12 months, enter zero. If you failed to meet the tax
must recapture all the SE-ITC claimed in the earlier years.
incentive criteria, enter zero.
You must recompute the credit if you earned it in an earlier year,
PART III
but disposed of the property before the end of the five-year
recapture period. You must also recompute the credit on any
Line 7. Enter the appropriate recapture percentage from the
property ceasing to qualify as SE-ITC property. Property moved
following table.
from Idaho within the first five years ceases to qualify as SE-ITC
property and is subject to recapture.
If the number of full years
Then the recapture
Recapture may be necessary when:
percentage is...
on Form 83R, line 6 is...
● An S corporation shareholder's interest is reduced by a sale,
0
100
redemption or other disposition of the shareholder's stock, or
1
80
by the corporation's issuance of more shares.
2
60
● A partner's proportionate interest in the general profits of the
partnership (or in a particular item of property) is reduced.
3
40
● A trust's, estate's or beneficiary's proportionate interest in the
4
20
income of the trust or estate is reduced.
5 or more
0
S corporations, partnerships, estates and trusts that pass through
SE-ITC to the shareholders, partners or beneficiaries must provide
Form ID K-1 reporting the recapture amount and including in Part
E, Supplemental Information, details on the year(s) the credit
Line 9. Add all amounts on line 8. If you have used more
being recaptured was originally earned.
than one Form 83R or separate sheets to list additional items
on which you computed an increase in tax, write to the left of
Any resulting tax from recapture of credits claimed in prior years
the entry space "Tax from attached" and the total tax from the
separate sheets. Include the amount in the total for line 9.
must be added to the tax otherwise determined in the year of
recapture. Recapture of credits not claimed in prior years reduces
the amount of credit carryover available to the current year.
Line 10. Enter the amount of recapture of SE-ITC that is being
passed to you from S corporations, partnerships, estates and
SPECIFIC INSTRUCTIONS
trusts. This amount is reported on Form ID K-1, Part D, line 15.
Instructions are for lines not fully explained on the form.
If recapture is necessary due to a reduction of a shareholder's
proportionate stock interest in an S corporation, reduction in the
interest in the general profits of a partnership, or reduction in the
PART I
proportionate interest in the income of the trust or estate, include
Lines A through E. Describe the property for which you must
that recapture on line 10 as well.
recompute the SE-ITC. Fill in lines 1 through 8 in Parts II and III
for each property on which you are recomputing the credit. Use
Line 11. Add lines 9 and 10 to determine the amount of credit
a separate column for each item. Use an additional Form 83R,
subject to recapture.
or other schedule with the same information as required on Form
83R, if you have SE-ITC recapture on more than five items.
Line 12. If you are a partnership, S corporation, trust or estate,
enter the amount of credit recapture that passed through to
partners, shareholders, or beneficiaries. Do not include any
PART II
recapture on this line for partners, shareholders, or beneficiaries
S corporations, partnerships, estates and trusts that have credit
for whom you are paying the tax.
subject to recapture must complete lines 1 through 9 to determine
the amount of credit recapture.
Line 13. If you did not use all the credit you originally computed
either in the year earned or in a carryover year, you will not have
Partners, shareholders and beneficiaries will use the information
to pay tax from recapture of the amount of the credit you did not
provided by the partnership, S corporation, trust or estate to report
use.
their pass-through share of the credit to be recaptured on line
10. If the only recapture you are reporting is from a pass-through
Compute the unused portion of the original credit from
entity, skip lines 1 through 9 and begin on line 10.
Form 83R, line 4, or that was passed through to you from a
partnership, S corporation, or trust on a separate sheet and
Line 1. Enter the month, day, and year that the property was first
enter the amount on this line. Do not enter more than the tax
available for service.
from recapture on line 11.
Line 2. Enter the cost or other basis of the property used to
Line 15. This is the total increase in tax. Enter it on this line and
compute the original SE-ITC.
on Form 44, Part II, line 3. DO NOT use this amount to reduce
your current year's SE-ITC from Form 83.
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