Form Sc Sch.tc-19 - Credit For A Gift Of Land For Conservation Or A Qualified Conservation Contribution Of Real Property After May 31, 2001

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STATE OF SOUTH CAROLINA
1350
1350
SC SCH.TC-19
DEPARTMENT OF REVENUE
CREDIT FOR A GIFT OF LAND FOR CONSERVATION OR
(Rev. 4/29/13)
A QUALIFIED CONSERVATION CONTRIBUTION
3369
OF REAL PROPERTY AFTER MAY 31, 2001
20
Attach to your Income Tax Return
Name As Shown On Tax Return
SSN or FEIN
$
1. Amount of the qualifying contribution of land located in South Carolina. (See instructions.) ....
1.
$
2. Multiply line 1 by 25% (0.25)......................................................................................................
2.
3. Multiply the number of acres contributed (reduced by number of wetland acres within the
$
intertidal zone) by $250.00........................................................................................................
3.
$
4.
4. Enter the lesser of line 2 or line 3.............................................................................................
$
5. Credit carried forward from prior years......................................................................................
5.
$
6. Add lines 4 and 5......................................................................................................................
6.
$
52,500.00
7. Yearly limitation........................................................................................................................
7.
$
8. Enter the lesser of line 6 or line 7..............................................................................................
8.
$
9. Enter your current year tax liability............................................................................................
9.
$
10. Enter the lesser of line 8 or 9. This is the amount of credit available for this year.....................
10.
$
11. Line 6 minus line 10. This amount may be carried forward until used......................................
11.
INSTRUCTIONS
LINE INSTRUCTIONS
LINE 1:
Enter the amount of the qualified contribution of land located in South Carolina. The amount of the qualified contribution is
the value of the “gift of land for conservation” or “qualified real property interest” located in South Carolina that is eligible
for a charitable contribution under Section 170 of the Internal Revenue Code (IRC) and meets the requirements of Section
12-6-5590 of the South Carolina Code of Laws (SC Code). Qualified real property interest” is defined in IRC Section
170(h). A “gift of land for conservation” is a charitable contribution of fee simple title property conveyed for conservation
purposes as defined in Section 170(h)(4)(A) to a qualified conservation organization as described in Section 170(h)(3).
See OTHER INFORMATION below.
Note: Transferees begin at line 6.
LINE 3:
The credit is limited to $250.00 per acre contributed, however, any wetland acreage lying within the intertidal zone shall
not be taken into consideration for the calculation of this per acre cap.
LINE 7:
This credit is limited to $52,500.00 for a taxpayer in any single tax year.
Note: IRC Section 267 attribution rules apply in computing per acre and per taxpayer limitation.
LINE 8:
This credit can be used in conjunction with any other credits to offset any income tax owed by the person or entity
claiming it. Any amounts not used due to the credit being greater than the current year tax due may be carried forward to
succeeding years. The credit may not be used against corporation license or any other fees. In addition to the
carryforward, unused credit may be transferred, devised, or distributed, with or without consideration, by an individual,
partnership, limited liability company, corporation, trust, or estate, in accordance with SC Code Section 12-6-3515.
33691023

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