Tax Credit Crush Tuesdays: Low-Income Housing Credit
Form 8586, Low-Income Housing Credit
This form is used by owners of qualified residential rental buildings in low-income housing projects to figure the amount of their low-income housing credit, a component of the general business credit.
Form 8611, Recapture of Low-Income Housing Credit
Use this form if you must recapture part of the low-income housing credit you claimed in previous years because:
the qualified basis decreased from one year to the next or you disposed of a building, or your interest therein, and
you did not follow the procedures that would have prevented recapture of the credit.
Form 8609, Low-Income Housing Credit Allocation and Certification
Owners of residential low-income rental buildings are allowed a low-income housing credit for each qualified building over a 10-year credit period. A separate Form 8609 must be issued for each building in a multiple building project. This form can be used to:
obtain a housing credit allocation from the housing credit agency, and
certify certain information.
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