PDF document

- 1 -

Form 49ABE — Schedule 2022
Affected Business Entity Investment Tax Credit
Names as shown on return EIN

Part I — Credit Available Subject to Limitation
Column A - New Column B - Used
1. a. Amount of qualified investments acquired during the tax year.
Include a detailed list .............................................................................. 1 a
b. Amount of investments the entity claimed the property tax exemption on.
Include applicable Form 49Es ................................................................... 1b
c. Subtract line 1b from line 1a. This is the amount of qualified
investments the entity can earn the investment tax credit (ITC) on ........... 1c
2. Pass-through share of qualified investments from an S corporation, partnership, trust, or estate:
a. b. c.
Pass-through Entity Name Pass-through Entity EIN Pass-through Share

Total column c ........................... 2
3. Total qualified investments. Add lines 1c and 2
(Column B is limited to $150,000) ................................................................... 3

4. Credit earned. Multiply the sum of line 3, Columns A and B by 3% ....................................................... 4

5. Carryover of ABE ITC from prior years. Include Form 49C or other schedule ....................................... 5
6. Pass-through share of credit from ABE entity:
a. b. c.
Pass-through Entity Name Pass-through Entity EIN Pass-through Share

Total column c ............................ 6

7. Total credit available. Add lines 4, 5, and 6 ............................................................................................ 7

Part II — Limitation

1. Enter the Idaho income tax from the entity return ................................................................................................ 1

2. Credit for contributions to Idaho educational entities .............................................................................. 2

3. Tax available after credit. Subtract line 1 from line 2 ....................................... 3

4. 50% of tax. Multiply line 1 by 50% .................................................................. 4

5. Investment tax credit available. Enter the amount from Part 1, line 7 ............ 5
6. Investment tax credit allowed. Enter the smallest amount from lines 3, 4, or 5
here and on Form 49, Part II, line 8 ........................................................................................................ 6
EFO00337 08-18-2022

- 2 -

Form 49ABE — Instructions 2022
Affected Business Entity Investment Tax Credit
Schedule

General Instructions Column A
Enter the amount of qualified new investments
Use this form to calculate the investment tax the entity claimed the property exemption on.
credit (ITC) earned or allowed of the ABE.
Column B
Qualified Depreciable Property and Enter the amount of qualified used investments
Nonqualifying property. the entity claimed the property exemption on.
See Form 49 for the definition of qualifying
property and examples of both qualifying property Line 2. Include a list of all ITC investments being
and nonqualifying property. passed through by S corporations, partnerships,
trusts, or estates that the entity has an interest in.
Other Information This amount is reported on Form ID K-1, Part X.
For information regarding property used both Identify each entity by name, EIN, and the share of
in and outside of Idaho, carryover periods, new and used qualified investments being passed
the election to claim the two-year property tax through. Don’t include anything on this line for S
exemption instead of ITC, and recapture see the corporations or partnerships that are ABE entities.
general instructions for Form 49.
Line 3. Used property is limited to $150,000. If the
Specific Instructions total qualified used investments is greater than
$150,000, enter $150,000 in Column B.
Instructions are for lines not fully explained on the
form. Line 5. Enter the ITC carryover from prior years.
Part I — Credit Available Subject to Limitation Compute the amount on Form 49C or on a separate
schedule. Include a copy of Form 49C or the
Line 1a. Include a list of all property the entity schedule. See General Instructions for Form 49 for
acquired and placed in service during the tax year the carryover period allowed.
that qualifies for the ITC. The list should identify:
• Each item of property and its location Line 6. Include a list of all ITC that’s being passed
through by other ABE entities that the entity has an
• The entity’s basis in the item
interest in. This amount is reported on Form ID K-1,
• Whether the item is new or used, and Part X. Identify each ABE entity by name, EIN, and
• The date placed in service the share of the credit being passed through.
The basis of qualified property is the Idaho
Part II - Limitation
adjusted basis computed without bonus
depreciation. Don’t include any investments the The ITC is limited to the smallest of the following:
entity is expensing under IRC section 179. • Tax available after credit for contributions to
Column A Idaho educational entities
Enter the amount of qualified new investments • ITC available
placed in service in the current year.
Line 1. Enter the amount of the entity’s Idaho
Column B income tax. This is the computed tax before adding
Enter the amount of qualified used investments the permanent building fund tax or any other taxes,
placed in service in the current year. or subtracting any credits.

Line 1b. This exemption is allowed instead of Line 6. Enter the smallest amount from lines 3, 4,
earning the ITC. Include applicable Form 49Es. or 5. Carry this amount to Form 49, Part II, line 8.

Contact us:
In the Boise area: (208) 334-7660 Toll free: (800) 972-7660|
Hearing impaired (TDD) (800) 377-3529
tax.idaho.gov/contact
EIN00109 08-18-2022

PDF file checksum: 2572393425

(Plugin #1/9.12/13.0)