ProConnect HelpIntuit HelpIntuit

Generating Form 8609-A in ProConnect Tax

by Intuit Updated 2 weeks ago

A building owner files Form 8609-A Annual Statement for Low-Income Housing Credit to report compliance with low-income housing provisions and calculate the low-income housing credit.

  • The building owner must file Form 8609-A for each year of the 15-year compliance period.
    • File one Form 8609-A for allocation(s) for the acquisition of an existing building.
    • File a separate Form 8609-A for allocation(s) for rehabilitation expenditures.

How to generate Form 8609-A

  1. From the Input Return tab, go to Schedule K Low-Income Housing.
  2. A separate activity must be added for each building.
  3. The partner's share of this credit flows to the Schedule K-1 Box 15 with a code of A or B.
    • The code A or B depends on what is entered in 1=42(j)(5) partnership, 2=other (MANDATORY).
  1. Scroll down to the Credit Information (Form 8609-A) section on the Low-Income Housing input screen.
  2. Input amount for Eligible basis from Form 8609, Part II, line 7b.
  3. Input number of low-income units.
  4. Input the Total number of units.
  5. Input Low-income floor space.
  6. Input Total floor space.
  7. Input Credit percentage from Form 8609, Part I, line 2 (.xxxx).
  8. Input other information as needed.

Additional inputs can be found on by going from the Input Return tab, to Schedule K  Credits  Other Credits and then clicking on the Low Income Housing tab on that screen.

ProConnect Tax Online

Sign in now for personalized help

Ask questions, get answers, and join our large community of Intuit Accountants users.

More like this

Dynamic AdsDynamic Ads