Form 68r - Recapture Of Idaho Broadband Equipment Investment Credit Page 2
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2EFO00039p2
Instructions for Idaho Form 68R
06-17-13
GENERAL INSTRUCTIONS
Line 5. Enter the month, day, and year the property ceased to
qualify as ITC property.
Use Form 68R to compute the increase in tax and reduction
to credit carryover for the recapture of broadband equipment
Line 6. Do not enter partial years. If the property was held less
investment credit. You must recompute the credit if you earned
than 12 months, enter zero.
it in an earlier year, but disposed of the property before the end
of the five-year recapture period. You must also recompute
PART III
the credit on any property ceasing to qualify as investment tax
credit (ITC) property. Property moved from Idaho within the first
Line 7. Enter the appropriate recapture percentage from the
five years ceases to qualify as ITC property and is subject to
following table.
recapture.
Recapture may be necessary when:
If the number of full years
Then the recapture
on Form 68R, 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
by the corporation's issuance of more shares.
1
80
● A partner's proportionate interest in the general profits of the
2
60
partnership (or in a particular item of property) is reduced.
● A trust's, estate's or beneficiary's proportionate interest in the
3
40
income of the trust or estate is reduced.
4
20
5 or more
0
S corporations, partnerships, estates and trusts that pass
through broadband equipment investment credit 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 being
Line 9. Add all amounts on line 8. If you have used more
than one Form 68R, or separate sheets to list additional items
recaptured was originally earned.
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
must be added to the tax otherwise determined in the year
separate sheets. Include the amount in the total for line 9.
of recapture. Recapture of credits not claimed in prior years
reduces the amount of credit carryover available to the current
Line 10. Enter the amount of recapture of broadband
year.
equipment investment credit that is being passed to you from S
corporations, partnerships, estates and trusts. This amount is
SPECIFIC INSTRUCTIONS
reported on Form ID K-1, Part D, line 13.
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 broadband equipment investment credit. Fill in
lines 1 through 8 in Parts II and III for each property on which
Line 11. Add lines 9 and 10 to determine the amount of credit
subject to recapture.
you are recomputing the credit. Use a separate column for
each item. Use an additional Form 68R, or other schedule with
the same information as required on Form 68R, if you have
Line 12. If you are a partnership, S corporation, trust or estate,
broadband equipment investment credit recapture on more than
enter the amount of credit recapture that passed through to
five items.
partners, shareholders, or beneficiaries. Do not include any
recapture on this line for partners, shareholders, or beneficiaries
PART II
for whom you are paying the tax.
S corporations, partnerships, estates and trusts that have
Line 13. If you did not use all the credit you originally computed
credit subject to recapture must complete lines 1 through 9 to
either in the year earned or in a carryover year, you will not
determine the amount of credit recapture.
have to pay tax from recapture of the amount of the credit you
did not use. However, you will pay tax from recapture of credit
Partners, shareholders and beneficiaries will use the information
transferred.
provided by the partnership, S corporation, trust or estate to
report their pass-through share of the credit to be recaptured on
Compute the unused portion of the original credit from
line 10. If the only recapture you are reporting is from a pass-
Form 68R, line 4, or that was passed through to you from a
through entity, skip lines 1 through 9 and begin on line 10.
partnership, S corporation, trust or on a separate sheet and
enter the amount on this line. Do not enter more than the tax
Line 1. Enter the month, day, and year that the property was
from recapture on line 11. Do not include the amount of any
first available for service.
credits transferred that must be recaptured.
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 broadband equipment investment credit.
on Form 44, Part II, line 2. DO NOT use this amount to reduce
your current year's broadband equipment investment credit from
Line 4. Multiply line 2 by line 3 to compute the credit originally
Form 68.
earned for each property listed.
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