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Arizona Form 319

Line 3 -

NOTE to individual shareholders of an S Corporation:

The credit is in lieu of a deduction for the installation

Subtract line 2 from line 1. Enter the difference. This is the

expenses for which the credit is claimed. If you are claiming

current taxable year's credit for the taxpayer that built the

the credits in Part 3, line 9 and/or line 11, you must include

house(s) or dwelling unit(s).

the amounts from Part 3, line 10 and/or line 12, on your

Part 2 - Current Taxable Year's Credit for

Arizona income tax return under “Other Additions”.

Purchaser or Transferee of the House or

Part 4 - Partner's Share of Credit

Dwelling Unit

Lines 13 through 16 -

Line 4 -

If the partnership is passing the credit through to its partners as

Enter the total amount of the credit(s) transferred to the

the builder of the house(s) or dwelling unit(s), the partnership

taxpayer as a purchaser or transferee of the house(s) or

must complete Part 1 of Form 319, Form(s) 319-1, and

dwelling unit(s) during the current taxable year. Obtain the

Form(s) 319-2, if applicable. If the partnership has received the

amount for each house or dwelling unit from the written

credit(s) as a purchaser or transferee, the partnership must also

statement(s) provided by the builder(s) of the house(s) or

complete Part 2 of Form 319. Then, complete lines 13 through

dwelling unit(s).

Be sure to include a copy of the

16 separately for each partner. If the partnership enters an

statement(s) with Form 319 when you file your return.

amount on line 16, it should provide a copy of the statement

Part 3 - S Corporation Credit Elections and

received from the transferor to each partner.

Shareholder's Share of Credit

Each partner is entitled to only a pro rata share of the credit

Line 5 - S Corporation Election for Tax Credit as

based on the partner’s ownership interest in the partnership.

Builder of House or Dwelling Unit

The total of the credit allowed to all partners may not exceed

the amount that would have been allowed for a sole owner.

S corporations must complete line 5. The S corporation must

The partnership must furnish each partner with a copy of

make an irrevocable election to either claim the credit or pass

pages 1, 2 and 3 of Form 319. Each partner must complete

the credit through to its shareholders. The election statement

Part 5, Part 6, and Part 7, as applicable.

must be signed by one of the officers of the S corporation

who is also a signatory to Arizona Form 120S.

Part 5 - Available Credit Carryover for Taxpayer

Line 6 - S Corporation Election for Tax Credit as

as Builder of House or Dwelling Unit

Purchaser or Transferee of House or Dwelling Unit

Complete Part 5 only if the allowable credit for prior taxable

S corporations that are the purchaser/transferee of a house or

years exceeded the Arizona income tax liability for those

dwelling unit must complete line 6. The S corporation must

taxable years.

make an irrevocable election to either claim the credit or pass

Each partner or S corporation shareholder must complete

the credit through to its shareholders. The election statement

Part 5 for the computation of the available carryover of the

must be signed by one of the officers of the S corporation

credit passed through by the partnership or S corporation.

who is also a signatory to Arizona Form 120S.

Line 17 -

Lines 7 through 12 -

In columns (a) through (e), enter the applicable taxable years.

If the S corporation elects to pass the credits through to its

Line 18 -

shareholders, it must also complete lines 7 through 12.

In columns (a) through (e), enter the amount of the original

If the S corporation is passing the credit through to its

tax credit earned for that taxable year.

shareholders as the builder of the house(s) or dwelling unit(s),

Line 19 -

the S corporation must complete Part 1 of Form 319,

In columns (a) through (e), enter the amount of the tax credit

Form(s) 319-1, and Form(s) 319-2, if applicable. If the

for the taxable year that has been previously used.

S corporation has received the credit(s) as a purchaser or

Line 20 -

transferee, the S corporation must also complete Part 2 of

Form 319. Then, complete Part 3, lines 7 through 12,

In columns (a) through (e), subtract the amount on line 19

separately for each shareholder. If the S corporation enters an

from the amount on line 18. Enter the difference in the

amount on line 11, it should provide a copy of the statement

applicable columns on line 20. This is the tentative carryover.

received from the transferor to each shareholder.

Line 21 -

Each S corporation shareholder is entitled to only a pro rata

In columns (a) through (e), enter the total amount of the tax

share of pass-through credit based on ownership interest in

credits that were transferred during the applicable taxable

the S corporation. The total of the credit allowed to all

year to purchasers or transferees of the houses or dwelling

shareholders may not exceed the amount that would have

units from Form(s) 319-2, column (e).

been allowed for a sole owner.

Line 22 -

The S corporation must furnish each shareholder with a copy

In columns (a) through (e), subtract the amount on line 21

of pages 1, 2 and 3 of Form 319. Each shareholder must

from the amount on line 20. Enter the difference in the

complete Part 5, Part 6, and Part 7, as applicable.

Instructions For Arizona Form 319 - Credit For Solar Hot Water Heater Plumbing Stub Outs And Electric Vehicle Recharge Outlets - 2014 Page 2

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