Form 3521-2025

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The document is the 2010 California Form FTB 3521 for claiming the Low-Income Housing Credit. It provides instructions for individuals and corporations involved in low-income housing projects in California to compute their eligible tax credits, including details on credit allocation, carryover computations, and basis recomputations. The form outlines eligibility criteria, necessary calculations, and reporting requirements for various entities such as S corporations and partnerships.

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Click ‘Get Form’ to open form 3521 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, answer whether the eligible basis of any project has decreased since receiving form CTCAC 3521A. If 'Yes', complete Part III before proceeding.
Fill in the current year credit amount on line 2 and any affiliated corporation credits on line 3. Ensure you follow the specific instructions for each line.
Continue through Parts II and III as applicable, ensuring all calculations are accurate and based on the guidelines provided in the instructions.

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What is the IRS form 8962 used for?

Purpose of Form Use Form 8962 to figure the amount of your PTC and reconcile it with APTC. You may take the PTC (and APTC may be paid) only for health insurance coverage in a qualified health plan (defined later) purchased through a Health Insurance Marketplace (Marketplace, also known as an Exchange).

Who fills out a 5695 form?

If you have made eligible clean energy upgrades to your home, you should fill out IRS Form 5695 to help claim the tax credit for these upgrades.

Who must file the IRS form 8962?

Taxpayers must file an income tax return and include Form 8962, Premium Tax Credit (PTC), if they, their spouse, or anybody they claim as a dependent enrolled in health insurance through a Health Insurance Marketplace (Marketplace) and received financial assistance to help cover the cost of their insurance (typically

Why is the IRS asking me for form 8962?

For tax years other than 2020, if you have APTC in any amount, you must file a Form 8962, and attach it to your federal income tax return for that year. You will use Form 8962 to reconcile the difference between the APTC made on your behalf and the actual amount of the credit that you may claim on your return.

What is the 8862 form used for?

Taxpayers complete Form 8862 and attach it to their tax return if: Their earned income credit (EIC), child tax credit (CTC)/additional child tax credit (ACTC), credit for other dependents (ODC) or American opportunity credit (AOTC) was reduced or disallowed for any reason other than a math or clerical error.

Will I get money if I file the 8962 form premium tax credit?

Youll need to use Tax Form 8962 to determine your eligibility for the PTC. If you use more of the PTC than your final taxable income allows, you may need to repay the difference when you file your taxes, but if you use less than you qualify for, you may receive the difference as a refundable credit on your return.

What form do I need to report foreign gifts?

US persons (citizens, resident aliens, and residents for tax purposes) must file Form 3520 to report gifts and inheritances received from foreign individuals (also known as nonresident aliens) and foreign estates.

What happens if I dont fill out form 8962?

If you received an APTC and dont file Form 8962, you could be ineligible for Marketplace APTCs in the future. Beginning in plan year 2025, Marketplaces must give enrollees advance notice that they are at risk of losing their APTCs after one year of failing to reconcile.

Form 3521-2025

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