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                         Form 49R
                         Recapture of Idaho Investment Tax Credit
Names as shown on return                                                                   Social Security number or EIN

Part I — Identify Property That No Longer Qualifies as Idaho Investment Tax Credit Property
    Properties                                           Property Description (Include a detailed schedule)
    A

    B

    C

    D

    E

Part II — Original Idaho Investment Tax Credit
                                                                 Properties
                                                       A    B    C                               D                                                      E

1. Date property placed in service ...              1 

2. Cost or other basis ..................... 2 
3. Credit percentage ......................         3    3%   3%           3%                              3%                                            3%

4. Original credit. Multiply line 2 
    by line 3 ...................................... 4 

5. Date property ceased to qualify .... 5 
6. Number of full years between 
    the date on line 1 and the date 
    on line 5 ..................................... 6 

Part III — Computation of Recapture Tax

7. Recapture percentage from 
    table in instructions .................... 7 
8. Tentative recapture tax. Multiply 
    line 4 by line 7 ............................ 8 

9. Add line 8, columns A through E ........................................................................................................ 9 

10. Pass-through share of credit recapture from S corporations, partnerships, trusts, or estates ........... 10 

11. Add lines 9 and 10 ............................................................................................................................. 11 

12. Credit recapture distributed to shareholders, partners, or beneficiaries ............................................ 12 
13. Enter the portion of original credit not used to offset any tax. Don’t enter more than line 11. This 
    amount is reported on Form 49C and reduces the credit carryover available to the current year ........ 13 

14. Add lines 12 and 13 ........................................................................................................................... 14 
15. Tax from recapture of investment tax credit. Subtract line 14 from line 11. Enter here and on
    Form 44, Part II, line 1. Don’t use this amount to reduce the current year’s investment
    tax credit computed on Form 49 ........................................................................................................ 15 
EFO00033     09-02-2022



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                     Form 49R — Instructions
                     Recapture of Idaho Investment Tax Credit

General Instructions                                    Part II — Original Idaho Investment Tax Credit
Use Form 49R to compute the increase in tax and         S corporations, partnerships, trusts, and estates 
reduction to credit carryover for the recapture of      that have credit subject to recapture must complete 
investment tax credit (ITC). You must recompute the     lines 1 through 9 to determine the amount of credit 
credit if you earned it in an earlier year but disposed recapture.
of the property before the end of the five-year 
                                                        Shareholders, partners, and beneficiaries use 
recapture period. You must also recompute the 
                                                        the information provided by the S corporation, 
credit on any property that no longer qualifies as ITC 
                                                        partnership, trust, or estate to report their 
property. Property moved from Idaho within the first 
                                                        pass-through share of the credit to be recaptured on 
five years no longer qualifies as ITC property and is 
                                                        line 10. If the only recapture you’re reporting is from a 
subject to recapture.
                                                        pass-through entity, skip lines 1 through 9 and begin 
Recapture may be necessary when:                        on line 10.
•  An S corporation shareholder’s interest is 
  reduced by a sale, redemption, or other               Line 1. Enter the month, day and year that the 
  disposition of the shareholder’s stock, or when       property was first available for service.
  the corporation issues more shares.                   Line 2. Enter the cost or other basis of the property 
•  A partner’s proportionate interest in the general    used to compute the original investment tax credit.
  profits of the partnership (or in a particular item 
  of property) is reduced.                              Line 4. Multiply line 2 by line 3 to compute the credit 
A trust’s, estate’s, or beneficiary’s proportionate   originally earned for each property listed.
  interest in the income of the trust or estate is      Line 5. Enter the month, day, and year the property 
  reduced.                                              no longer qualified as ITC property.
S corporations, partnerships, trusts, and estates 
that pass ITC through to the shareholders, partners,    Line 6. Don’t enter partial years. If the property was 
or beneficiaries must provide Form ID K-1 to report     held less than 12 months, enter zero.
the recapture amount and include in Part XII, 
                                                        Part III — Computation of Recapture Tax
Supplemental Information, details on the years the 
credit being recaptured was originally earned.          Line 7. Enter the appropriate recapture percentage 
                                                        from the following table.
Add any tax owed from recapture of credits claimed 
in prior years to the tax determined in the year 
                                                        If the number of full years    Then the recapture 
of recapture. Recapture of credits not claimed in 
                                                        on Form 49R, line 6 is ...     percentage is...
prior years reduces the amount of credit carryover 
available to the current year.                                     0                             100
                                                                   1                             80
                                                                   2                             60
Specific Instructions
                                                                   3                             40
Instructions are for lines not fully explained on the              4                             20
form.                                                              5 or more                       0

Part I — Identify Property That No Longer 
Qualifies as Idaho Investment Tax Credit                Line 9. Add all amounts on line 8. If you’ve used 
Property                                                more than one Form 49R or separate sheets to list 
                                                        additional items you computed recapture on, write 
Lines A through E. Describe the property you must 
                                                        to the left of the entry space “tax from attached” and 
recompute ITC on. Fill in lines 1 through 8 in Parts 
                                                        the total tax from the separate sheets. Include the 
II and III for each property you’re recomputing the 
                                                        amount in the total for line 9.
credit on. Use a separate column for each item. If 
you have ITC recapture on more than five items, use     Line 10. Enter the amount of ITC recapture passed 
an additional Form 49R or other schedule with the       through to you from S corporations, partnerships, 
same information as required on Form 49R.               trusts, and estates. This amount is reported on 
                                                        Form ID K-1, Part X, line 61.
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                                                                      Form 49R — Instructions     (continued)

Include on this line any recapture that’s necessary     Line 13. If you didn’t use all of the credit you 
because of:                                             originally computed either in the year earned or in 
•  A reduction of a shareholder’s proportionate         a carryover year, you won’t have to pay tax from 
  stock interest in an S corporation, or                recapture of the amount of the credit you didn’t use.
A reduction in the interest in the general profits    Compute the unused portion of the original credit 
  of a partnership, or                                  from Form 49R, line 4, or that was passed through 
•  A reduction in the proportionate interest in the     to you from an S corporation, partnership, trust, or 
  income of a trust or estate                           estate on a separate sheet and enter the amount on 
                                                        this line. Don’t enter more than the tax from recapture 
Line 11. Add lines 9 and 10 to determine the amount     on line 11.
of credit subject to recapture.
                                                        Line 15. This is the total increase in tax. Enter it on 
Line 12. If you’re an S corporation, partnership,       this line and on Form 44, Part II, line 1. Don’t use 
trust, or estate, enter the amount of credit recapture  this amount to reduce your current year’s ITC from 
that passed through to shareholders, partners, or       Form 49.
beneficiaries. Don’t include any recapture on this line 
for shareholders, partners, or beneficiaries you’re 
paying the tax for on a composite return.

                                                  Contact us:
                       In the Boise area: (208) 334-7660  |Toll free: (800) 972-7660
                               Hearing impaired (TDD) (800) 377-3529
                                          tax.idaho.gov/contact
EIN00079 09-02-2022                                                                                Page 2 of 2 






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