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SCHEDULE A (Form 8610)

(Rev. December 2023)

Carryover Allocation of Low-Income Housing Credit

OMB Number 1545-0990

Catalog Number 30065T

Instructions

General Instructions     

 

Section references are to the Internal Revenue Code unless otherwise noted.

 

Purpose of Form

 

State housing credit agencies use Schedule A (Form 8610) to report carryover allocations.

 

Major Disaster Declarations

If a housing credit agency has granted any project relief for carryover allocations discussed in section 6 of Rev. Proc. 2014-49, 2014-37 I.R.B. 535, the agency must attach to Form 8610 a copy of the Schedule A (Form 8610) for the projects for which it has approved relief. These attached copies of Schedule A (Form 8610) must have the box checked that indicates the housing credit agency granted carryover allocation relief under Rev. Proc. 2014-49. The housing credit agency should only include Schedules A (Form 8610) for projects receiving approval of the carryover allocation relief since the agency last filed Form 8610. The information from these particular Schedules A (Form 8610) is not included on any line in Part I or Part II of Form 8610.   

 

                                                                                                                                        

 

All fields marked with an asterisk (*) are required.

Use the dropdown list to select a state.

Must be 5 or 9 digits. Include dash if providing full ZIP code. All zeros not accepted. EX: 12345 or 12345-1234. 

 Must be exactly 9 digits. Dashes and all zeros not accepted. EX: 123456789.

Check this box if you are filing an Amended carryover allocation

All fields marked with an asterisk (*) are required.

Specific Instructions

Line 4

Enter the date of allocation. This is the date the authorized official of the state housing agency signs and dates the carryover allocation document.

Line 5

Enter the amount of carryover allocation. If you checked the “building based” box on line 3a, enter the amount of credit allocated to the building under section 42(h)(1)(E). If you checked the “project based” box on line 3a, enter the amount of credit allocated to all the buildings in the project under section 42(h)(1)(F).

Lines 6a, 6b, and 6c

Complete these lines only if both of the following apply.

• There is a binding agreement between the housing credit agency and the building owner for a specific housing credit dollar amount.

• An election is made to use an applicable percentage for a month other than the month in which the property is placed in service.

See Regulations sections 1.42-6 and 1.42-8 for requirements that must be met.

The applicable percentage cannot be less than 9% for any building that (1) is not federally subsidized, and (2) is placed in service after July 30, 2008. See section 42(b)(2) and Notice 2008-106, 2008-49 I.R.B. 1239.

The applicable percentage cannot be less than 4% for any new or existing federally subsidized building that is placed in service by the taxpayer after December 31, 2020. For the minimum 4% rate to apply, a building must also receive an allocation of housing credit dollar amount after December 31, 2020, or have a portion of the building financed with an obligation described in section 42(h)(4)(A) that is issued after December 31, 2020. See section 42(b)(3) and section 201(b) of the Taxpayer Certainty and Disaster Act of 2020 (Division EE of P.L. 116-260), and also Rev. Rul. 2021-20, 2021-51 I.R.B. 875, and Rev. Proc. 2021-43, 2021-51 I.R.B. 882.               

Use the dropdown list to select a state.

Must be 5 or 9 digits. Include dash if providing full ZIP code. All zeros not accepted. EX: 12345 or 12345-1234. 

Enter EIN or SSN without dashes

Must be exactly 9 digits. Dashes and all zeros not accepted. EX: 123456789.

Must be exactly 9 digits. Dashes and all zeros not accepted. Ex: 123456789.

6. If a binding agreement (see instructions) was entered into, enter the maximum applicable credit percentage for:

The value should be within range of 4 to 99. Minimum value is 4%.

The value should be within range of 4 to 99. Minimum value is 4%.

The value should be within range of 9 to 99. Minimum value is 9%.

    All fields marked with an asterisk (*) are required.

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