Recapture of Low-Income Housing Credit

If you claimed the Utah low-income housing credit in a previous year and then disposed of the building or an ownership interest, or if the qualified basis of the building has decreased, you may have to recapture the credit.

If you are required to recapture a portion of your federal low income housing credit, you must also recapture a portion of your Utah low income housing credit.
Complete the following worksheet.


Tax from Recapture of Low-Income
Housing Credit Worksheet

1. Federal net recapture tax
(federal form 8611, line 10)

1 _________

2. Credits subject to recapture
(federal form 8611, line 3)
2 _________
3. Divide line 1 by line 2 3 _________
4. Total low-income housing credits actually taken over the life of the project on all Utah returns 4 _________

5. Total – multiply line 3 by line 4
Enter this amount on TC-40, line 30

5 _________