![]() The partnership incurred $100,000 in qualified rehabilitation expenditures and claimed a 20% Rehabilitation Tax Credit, which results in a $20,000 credit. ![]() ![]() To illustrate this, let's use a hypothetical example:Īssume that your partnership has three partners: Partner A, Partner B, and Partner C. This is because the tax credit reduces the overall tax liability of the partnership, which in turn increases the partners' shares of the partnership's assets. When you claim a Rehabilitation Tax Credit on Form 1065, you will need to reduce each partner's capital account by their share of the credit. I'm Victor, and I will be happy to assist you with your question. Thank you for contacting us for assistance with your concern.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |