Idaho Form Help

Table of contents:

Individual

Form 40

Line 7 Federal adjusted gross income from 1040 or 1040-SR line 11

This is where you will enter the line-specific help.

Form CG Capital Gains Deductions

• Line 1 Enter from Disposition Screen 17
• Line 5 Enter from Idaho Modifications Screen 51.151 Under Idaho Subtractions on the heading Passthrough entities Gains for CG Distribution and click on the Paper at the end of the description line to open for additional entities to be entered.

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Partnership

Form 65

Line 6

Idaho investment tax credit

• This entry was posted in Idaho Investment Tax Credit Carryovers on Screen 41.151 Years from 2010 to 2023
• Under the Screen 41.151, the heading Idaho Current Year Investment Tax Credit (49) This entry overrides the Idaho investment tax credit to print on Form 65, line 43. The program bases the calculation on entries in Form 49.

This is where you will enter the line-specific help.

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S Corporation

Form 41S

Line 28 Technological equipment donation

• Idaho Subtractions on Screen 44.151 line item Technological equipment donation

Form 44 Business Income Tax Credits, Credits Recapture, and Nonrefundable Credit From a Prior Year Return

Part I Business Income Tax Credits

• Line 1 Investment Tax Credit. Include Form 49
• Line 2Credit for production equipment using post-consumer waste Screen 47.151 Business Income Tax Credits
• Line 3 Promoter-sponsored even credit Screen 47.151 Idaho Credits Business Income Tax Credits
• Line 4 Credit for Idaho Research Activities. Include Form 67 Idaho. entry on Screen 47.152 Credits heading of Idaho Form 967&68) There's an override and jump to input will take you directly to the entry.
• Line 5 Idaho Broadband equipment investment credit (68) entry on Screen 47.152 There's an override and jump to input will take you directly to the entry.
• Line 6 Small employer investment Tax Credit Form 83 entry on Screen 47.151Enter the Small employer investment tax credit available prior to distribution to the shareholders.  The credit will be distributed and/or limited automatically. The credit that applies to nonresidents not filing in Idaho will be reported on Form 44.
• Line 7 Small employer real property improvement tax credit. Include Form 84 entry on Screen 47.151 Under the heading Business Tax Credits (Form 44)(continued)
• Line 8 Small employer new jobs tax credit. Include Form 85 entry on Screen 47.151 Under the heading Business Tax Credits (Form 44)(continued)

Part II- Tax from Recapture of Business Income Tax Credits

Tax from recapture of Business Income Tax Credits

The entries can be reached by jump to input which goes to Screen 48.151 Under Tax Credit Recapture.

• Line 1. Investment tax credit. Include Form 49R
• Line 2. Broadband equipment investment credit. Include form 68R
• Line 3. Small employer investment credit. Include Form 84R.
• Line 4. Small employer Real property improvement tax credit. Include Form 84R
• Line 5. Small employer new jobs tax credit. Include Form 85R.
• Line 6. Total

PART III- nonrefundable credit from a prior year return

This full section is filled out on State & Local/State Credits/ Screen 47.151 Idaho Credits under the Heading Nonrefundable Credit From Prior Year return (Form 44, Part III)

Form 49 Investment Tax Credit

• Line 1a is calculated from the Depreciation Screen 16 for assets checked Under Additional information Qualifies for current year Idaho ITC; 1=new investment 2=used investment .
• Line 1b Amount of investment claimed the property tax exemption from Screen 47.151 Under Qualified Investment Exemption must have the description and amount and if it is New or Used
• Line 2 Passthrough share of qualified investments from an S corporation, partnership, trust or estate: Screen 47.151 under the heading of Pass-Through share and must enter under the table the Name EIN and Share New Share Used boxes

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Corporation

Form 41

Pg.1, Line 7a

To mark line 7a as Yes, Go to Screen 7 and fill in the Percentage owned (xxx.xx) field with a value greater than 50. Also, uncheck the box in Screen 45.151 that says "This corporation does not own over 50% of another corporation [O]".

Form 41 Additions, Subtractions, Credits and Other Taxes

• Additions are Under State Adjustments Lines 11-17 Screen 47.151 Heading Additions
• Subtractions Lines 19-30 are shown Under State Adjustments Screen 47.151 Heading Subtractions
• Credits Lines 39-41 are chosen under State then Credits Screen 49.151 Under the Form 41 section.
• Other Taxes Lines 45-48 Located in the drop down under State then Credits Screen 50.151

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Fiduciary

Form 66

Line 4 Idaho adjusted income Comes from Schedule A page 2 line 19.

Schedule A modifications

Under the Menu item for State choose Idaho click on 55 Modifications

• Additions are on (Screen 55.151)
• Subtractions are on (Screen 55.151)

Schedule B - Credits

• Other State Tax Credits (Screen 56.151)
• Idaho Other Credits Schedule C for Contributions to educational entities in Full (Screen 57.151)
• Contributions to youth and rehabilitation facilities in full
• Business income tax credits from Form 44 Part 1 line 10. Include on Form 44 (Screen 57.151)

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