Form 4255 Rev December Fill in Capable Recapture of Investment Credit

Instructions and help about Form 4255 Rev December Fill In Capable Recapture Of Investment Credit

will be going over IRS form 4255 recapture of investment credit taxpayers use this tax form to figure the increase in tax if they're recapturing an investment credit that was previously claimed or for recapturing a qualifying therapeutic Discovery project Grant so the the form instructions contain a lot of detail about recapture requirements and special rules but generally if you disposed of investment credit property before the end of a full five-year period where you were able to place the property into service you may have to recapture and repay some of that credit back if you change the use of the property if the business use decreased over the recapture period if the applicable code sections for which you were taking a credit no longer apply there's a long list of different scenarios in which you may need to recapture the investment credit the Exceptions there are several exceptions so transfer pursuant to the death of a taxpayer you don't have to recapture the tax credit a transf