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Schedule 4255 Recapture of Investment Tax Credits Illinois  Form

Schedule 4255 Recapture of Investment Tax Credits Illinois Form

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now we're going to talk a little bit about uh Illinois for 4255s and recapture all those 12.99 credits that were just put in into play here this is the way that they are able to be recaptured if the investment property cease to qualify um of course those just uh just as a reminder is the Angel investment credit Economic Development credit for a growing economy uh a new construction Edge credits and New Market development credits in historic preservation credits so this is what the new 4255 looks like the step three was added in that is primarily uh to disqualify property that would come in under the edge investment credit foreign we have the totals columns c and d uh total C is for the Rev in Illinois investment credit and column D is for the replacement tax credit uh line 19 from column C and column D respectively Our Fair k1p lines 54 B and C and line 20 would be uh there would be reported on either the 1040 line 13 11 20 line 46 1041 line 43 or the 990 T line 20. uh column D those a

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