Generating Form 8609-A in Lacerte

Table of contents:

How to generate Form 8609-A

Form 8609-A is the Annual Statement for Low-Income Housing Credit, used by building owners to report compliance with low-income housing provisions and to calculate the annual low-income housing credit.

Key Requirements

• Filing Period: A building owner must file this form for every year of the 15-year compliance period.
• Building Types: One Form 8609-A is filed for the acquisition of an existing building, while a separate Form 8609-A must be filed for rehabilitation expenditures.

Partnership

1. Go to Screen 21, Form 8609-A/LIH Recapture (8611).
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) (Code 17).

How to calculate the credits

1. Go to Screen 28.2, Schedule A (8609)/LIH Recapture
2. Scroll down to Credit Information (8609-A)
3. Input amount for Eligible basis from Form 8609, Part II, line 7b (Code 5)
4. Input number of low-income units (Code 22)
5. Input the Total number of units (Code 23)
6. Input Low-income floor space (Code 24)
7. Input Total floor space (Code 25)
8. Input Credit percentage from Form 8609, Part I, line 2 (.xxxx) (Code 501)
9. Input other information as needed.

Additional inputs can be found in Screen 16, K-1 Information in the Credits section.

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Corporate

1. Go to Screen 28.1 General Business Credits.
2. Screen 28.6 LIH Annual Stmt.(8609-A)/ Recapture (8611)
3. A separate activity must be added for each building.
4. Fill in the section called Credit Information (8609-A)
5. Enter the information from the Housing Credit Agency Form 8609

How to calculate the credits

1. Input amount for Eligible basis from Form 8609, Part II, line 7b (Code 5)
2. Input number of low-income units (Code 22)
3. Input the Total number of units (Code 23)
4. Input Low-income floor space (Code 24)
5. Input Total floor space (Code 25)
6. Input Credit percentage from Form 8609, Part I, line 2 (.xxxx) (Code 501)
7. Input other information as needed.

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S-Corporation

1. Go to Screen 26.3, Credits
2. LIH Annual Stmt. (8609-A)/Recapture (8611)
3. A separate activity must be added for each building.
4. Fill in the section called Credit Information (8609-A)
5. Enter the information from the Housing Credit Agency Form 8609

How to Calculate the Credits

1. Input amount for Eligible basis from Form 8609, Part II, line 7b (Code 5)
2. Input number of low-income units (Code 22)
3. Input the Total number of units (Code 23)
4. Input Low-income floor space (Code 24)
5. Input Total floor space (Code 25)
6. Input Credit percentage from Form 8609, Part I, line 2 (.xxxx) (Code 501)
7. Input other information as needed.

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