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Generating Form 8609-A in ProConnect Tax

by Intuit• Updated 3 months 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.

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