Fillable Schedule Pe - Postsecondary Education Credit

Schedule

Postsecondary Education Credit

2012

File with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5 or 5S

Wisconsin Department

Read instructions before filling in this schedule

of Revenue

Name

Identifying Number

1 Enter amount paid to reimburse an individual for tuition that the individual paid or incurred

to attend a qualified postsecondary institution from which the individual graduated in 2012 . . 1

2 Enter percentage (25% (0 .25) or 30% (0 .30) - see instructions) . . . . . . . . . . . . . . . . . . . . . . . 2

3 Multiply line 1 by the percentage on line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

4 Enter postsecondary education credit passed through from other entities . . . . . . . . . . . . . . . . 4

5 Add lines 3 and 4 . This is your 2012 postsecondary education credit . . . . . . . . . . . . . . . . . . . 5

5a Fiduciaries - enter the amount of credit allocated to beneficiaries . . . . . . . . . . . . . . . . . . . . . . 5a

5b Fiduciaries - subtract line 5a from line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5b

6 Carryover of unused postsecondary education credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

7 Add lines 5 and 6 (lines 5b and 6 if fiduciary). This is the available postsecondary education credit

Sign below.

I certify that I (or this entity) will not be reimbursed for any amount of tuition on which this credit is based.

Signature of claimant or authorized representative

Date

Instructions for 2012 Schedule PE

• The credit may not be claimed for tuition amounts that

Purpose of Schedule PE

the claimant paid or incurred for a family member of

Use Schedule PE to claim the postsecondary education

the claimant or for a family member of a managing

credit . This credit is available to a business that reimburses

employee unless (a) the family member was employed

certain individuals for the tuition paid or incurred to attend

an average of at least 20 hours per week as an

a qualified postsecondary institution.

employee of the claimant, or as an employee of the

claimant’s business, during the one-year period prior

Who is Eligible to Claim the Credit

to commencing participation in the education program,

and (b) the family member is enrolled in a course of

A corporation, sole proprietor, partner, member of a limited

instruction that is substantially related to the claimant’s

liability company (LLC), or a shareholder of a tax-option

business .

corporation may claim the credit .

“Family member” means a spouse, child, grandchild,

Partnerships, LLCs treated as partnerships, and tax-

great-grandchild, parent, brother or sister, nephew

option (S) corporations cannot claim the credit, but

or niece, grandparent, great-grandparent, or aunt or

the credit amount attributable to the entity’s business

uncle . The person may be related by blood, marriage

operations passes through to the partners, members or

or adoption .

shareholders .

“Managing employee” means an individual who

Limitations

wholly or partially exercises operational or managerial

control over, or who directly or indirectly conducts, the

• No credit is allowed unless the claimant certifies to the

operation of the claimant’s business .

department that the claimant will not be reimbursed for

• The individual who was reimbursed for tuition was

any amount of tuition for which the credit is claimed .

eligible for a grant from the federal Pell Grant Program .

• A claimant may not claim the credit for any tuition

• The credit may not be claimed for tuition paid or

amounts the individual claimed as a Wisconsin

incurred for an individual who is not a resident of

subtraction from income for tuition expense or that

Wisconsin .

was excluded from the individual’s income under the

employer’s educational assistance program .

• The credit must be claimed within four years of the

unextended due date of the return .

IC-073

Schedule Pe - Postsecondary Education Credit - 2012

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