Form 3521-2025

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The document is the California Form FTB 3521 for the Low-Income Housing Credit for the taxable year 2010. It provides instructions for claiming low-income housing credits, including credit computation, carryover computations, and basis recomputations. The form is intended for owners of residential rental projects providing low-income housing in California and outlines eligibility criteria, calculation methods, and reporting requirements for various entities such as corporations and partnerships.

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Click ‘Get Form’ to open it in the editor.
Begin by entering your name(s) as shown on your California tax return, along with your SSN, Corporation number, or FEIN in the designated fields.
In Part I, assess if the eligible basis of any project has decreased since receiving form CTCAC 3521A. Select 'Yes' or 'No' accordingly.
Complete line 2 by entering the current year credit amount as per instructions provided.
For line 3, enter any affiliated corporation or pass-through low-income housing credits from other entities. Ensure you have the correct identification numbers ready.
Continue filling out lines 4 through 11 by following the specific instructions for each line regarding calculations and entries related to low-income housing credits.
If applicable, move to Part II for carryover computation and follow similar steps for lines 12a and 12b.
Finally, if necessary, complete Part III for basis recomputations only if there has been a decrease in basis.

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What is form 3521?

Use form FTB 3521, Low-Income Housing Credit, if you are an owner of a residential rental project providing low-income housing in California. Also use form FTB 3521 to claim a credit that was: Allocated from an affiliated corporation.

Who needs to file form 8821?

Who needs to file Form 8821? Any taxpayer can file Form 8821 to authorize someone else to receive their tax information from the IRS. This can include individual taxpayers, businesses, estates, and trusts.

What is the form 3521 for low income housing credit?

Purpose. Use form FTB 3521, Low-Income Housing Credit, if you are an owner of a residential rental project providing low‑income housing in California. Also, use form FTB 3521 to claim a credit that was: Allocated from an affiliated corporation.

Do you file form 3520 with 1040?

Youll need to file Form 3520 along with Form 1040 and the rest of your federal tax return. While most Americans think of April 15th as the typical tax deadline, US expats get an automatic two-month extension to June 15th. If you need more time to file, you can apply for an additional extension to October 15th.