Schedule Ct-It Credit - Income Tax Credit Summary

Part I Line Instructions

Line 8 - Insurance reinvestment fund tax credit

Part II Tax Credit Reported by

You must complete Form CT-IRF before completing

Pass-Through Entity on Schedule

Line 1 - Income tax liability

Schedule CT-IT Credit, Line 8. Attach Form CT-IRF

CT K-1 or by a Trust or Estate on

Column A: Enter the 2015 income tax liability from

to your return if a paper return is ﬁ led.

Schedule CT-1041 K-1

Form CT-1040, Line 12; Form CT-1040NR/PY, Line 14;

Column B: Enter the amount from your 2014

Form CT-1040X, Line 16; or Form CT-1041, Line 7.

Individual, trust, or estate

Schedule CT-IT Credit, Line 8, Column E.

Line 4 - Job expansion tax credit

An individual, trust, or estate who is a member of a

Column C: Enter the amount from your 2015 Form

pass-through entity or a beneﬁ ciary of a trust or estate

You must complete Form CT-1120 JET before

CT-IRF, Part I, Line 6.

must complete Part II of this schedule.

completing Schedule CT-IT Credit, Line 4.

Column D: Enter the amount applied to your 2015

For each credit reported to the individual, trust, or

Column C: Enter the amount earned during 2015.

income tax liability. Enter the lesser of the total of Line 8,

This is the amount calculated on Form CT-1120

estate on Schedule CT K-1 or Schedule CT-1041

Column B and Column C, or Line 7, Column A.

K-1, enter in Column A the type of tax credit reported.

JET, Schedule CT K-1, Schedule CT-1041 K-1, or

Column E: Enter the amount from your 2015 Form

Enter in Columns B and C respectively, the name

Worksheet B - Worksheet for Schedule CT-IT Credit.

CT-IRF, Part II, Line 8.

and federal employer identiﬁ cation number (FEIN)

Column D: Enter the amount applied to your 2015

of the pass-through entity as it appears on Schedule

Line 10 - Credit for prior year alternative

income tax liability. Enter the lesser of Line 4, Column C,

CT K-1 or the name and FEIN of the trust or estate as it

minimum tax

or Line 1, Column A.

appears on Schedule CT-1041 K-1. Enter the amount

You must complete Form CT-8801 before completing

Line 6 - Angel investor tax credit

of each tax credit in Column D. Attach additional

Schedule CT-IT, Line 10. Attach Form CT-8801 to your

Column B: Enter the amount from your 2014

schedules as needed.

return if a paper return is ﬁ led.

Schedule CT-IT Credit, Line 6, Column E.

Column B: Enter the amount from your 2014

Column C: Enter the amount earned during 2015.

Schedule CT-IT Credit, Line 10, Column E.

This is the amount on the credit certiﬁ cation from

Column C: Enter the amount from your 2015 Form

Connecticut Innovations Inc., Schedule CT K-1,

CT-8801, Part II, Line 24.

Schedule CT-1041 K-1, or Worksheet B - Worksheet

for Schedule CT-IT Credit.

Column D: Enter the amount from your 2015 Form

CT-8801, Part II, Line 30, or the amount from Schedule

Column D: Enter the amount applied to your 2015

CT-IT Credit, Line 9, Column A, whichever is less.

income tax liability. Enter the lesser of the total of Line 6,

Column B and Column C, or Line 5, Column A.

Column E: Subtract Column D from the total of

Column B and Column C.

Column E: Subtract Column D from the total of

Column B and Column C.

Schedule CT-IT Credit (Rev. 12/15)

Page 4 of 4

Schedule Ct-It Credit - Income Tax Credit Summary - 2015 Page 4

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