Form 84r - Recapture Of Idaho Small Employer Real Property Improvement Tax Credit Page 2
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Instructions for Idaho Form 84R
08-22-13
GENERAL INSTRUCTIONS
Line 4. Multiply line 2 by line 3 to compute the credit originally
earned for each property listed.
Use Form 84R to compute the increase in tax and reduction
to credit carryover for the recapture of the small employer real
Line 5. Enter the month, day, and year the property ceased to
property improvement tax credit (SE-RPITC).
qualify as SE-RPITC property.
If you claimed the SE-RPITC in an earlier year and fail to meet
Line 6. Do not enter partial years. If the property was held less
the tax incentive criteria you certified to on Idaho Form 89SE, you
than 12 months, enter zero. If you failed to meet the tax incentive
must recapture all the SE-RPITC claimed in the earlier years.
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-RPITC property. Property
following table.
moved from Idaho within the first five years ceases to qualify as
SE-RPITC property and is subject to recapture.
If the number of full years
Then the recapture
Recapture may be necessary when:
on Form 84R, line 6 is...
percentage 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.
● A partner's proportionate interest in the general profits of the
2
60
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-RPITC 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
Line 9. Add all amounts on line 8. If you have used more than
credit being recaptured was originally earned.
one Form 84R or separate sheets to list additional items on which
you computed an increase in tax, write to the left of the entry
Any resulting tax from recapture of credits claimed in prior years
space "Tax from attached" and the total tax from the separate
must be added to the tax otherwise determined in the year of
sheets. Include the amount in the total for line 9.
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-RPITC 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 16.
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-RPITC. 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 84R,
subject to recapture.
or other schedule with the same information as required on Form
84R, if you have SE-RPITC 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 Form 84R,
entity, skip lines 1 through 9 and begin on line 10.
line 4, or that was passed through to you from a partnership, S
corporation, or trust on a separate sheet and enter the amount on
Line 1. Enter the month, day, and year that the property was first
this line. Do not enter more than the tax from recapture on
available for service.
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-RPITC.
on Form 44, Part II, line 4. DO NOT use this amount to reduce
your current year's SE-RPITC from Form 84.
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