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How to use or fill out Family Development Account Tax Credit ProgramDepartment of with our platform
- Click ‘Get Form’ to open it in the editor.
- Begin by entering your Tax After MEGA Federal Contract Credit from Form 4573, line 57 into line 1. If you are not claiming this credit, carry the amount from line 1 to line 5 and skip to line 7.
- In line 2, input the contribution amount from your MSHDA certificate. Remember to attach the certificate for verification.
- For line 3, multiply the amount on line 2 by 75% (0.75) and enter the result.
- Line 4 requires you to enter the lesser of line 1 or line 3 as your IFDA Credit.
- Subtract line 4 from line 1 and enter the result in line 5 for your tax after IFDA Credit.
- For tax year ending in 2009, enter $500,000 in line 7.
- In line 8, enter the lesser of line 5 or line 7 for your International Auto Show Credit.
- Subtract line 8 from line 5 and record this in line 9 for your tax after International Auto Show Credit.
- Finally, add lines 4 and 8 together for your Combined IFDA and International Auto Show Credit and carry this amount to Form 4573, line 58.
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