Enlarge image | Schedule Wisconsin Supplement to the Federal Historic HR-5 Rehabilitation Tax Credit – Five-Year Credit Claim Wisconsin Department 2024 of Revenue File with Wisconsin Form HR-T A. Claimant Information 1 . Name 2. FEIN or SSN XX - XXX - 3 . Address Suite Number 4 . City State Zip Code 5 . Email Phone Number 7. Disregarded entity FEIN 6 . Check if the credit is being transferred by a single owner of a disregarded entity: XX - XXX - 8. Check if you want to allow the contact person listed below to discuss information about this form with the department: 9. Contact Person (May need Power of Attorney. See Instructions) Email B. Rehabilitated Property 1. Name of the Property 2. Address of the Rehabilitated Property 3 . City State Zip Code C. Credit Information 1 Total credit being claimed (add lines 3k or 3o, 4j, 5e and 6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 .00 Fiduciaries Only: a Prorate the credit from line 1 between the entity and its beneficiaries in proportion to the income allocable to each. Enter the beneficiary’s portion . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1a .00 b Subtract line 1a from line 1. This is the estate’s or trust’s portion of the credit . . . . . . . . . . . . 1b .00 2 The credit being claimed is the total of the following: Check all that apply a The credit was calculated from rehabilitation expenditures incurred by the claimant as owner of the historic property. If this box is checked, line 3 is completed . . . . . . . . . . . . . . . . 2a b The credit was allocated to the claimant as owner of a pass-through entity. If this box is checked line 4 is completed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2b c The claimant received the credit as a transferee in a credit transfer approved by the Department of Revenue. If this box is checked line 5 is completed . . . . . . . . . . . . . . . . . . . . . . . . . 2c 3 Claimant is Owner of the Rehabilitated Property For credits claimed for the first time on this form: a Enter the WEDC Contract number associated with this credit . . 3a b Enter adjusted basis in the historic property prior to incurring QREs . . . . . . . . . . . . . . . . . . . . 3b .00 c The credit is calculated in the year the expenditures are paid . . . . . . . . . . . . . . . . . . . . . . . . . 3c d The credit is calculated in the year the rehabilitation property is placed in service . . . . . . . . . 3d e Enter the adjusted basis at the beginning of the measuring period (see the instructions) . . . . 3e .00 f Enter the date on which the 24- or 60-month measuring period begins . . . . . . . . . . . . . . . . . . 3f M M D D Y Y Y Y g Enter the date on which the 24- or 60-month measuring period ends . . . . . . . . . . . . . . . . . . . 3g M M D D Y Y Y Y IC-534 (R. 11-24) - 1 - |
Enlarge image | Schedule HR-5 2024 3 Claimant is Owner of the Rehabilitated Property (Cont.) h Enter the total qualifying expenditures incurred on the project to date . . . . . . . . . . . . . . . . . . 3h .00 i Enter the qualified rehabilitation expenditures on which the credit is computed for the current taxable year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3i .00 j Enter 20% of the amount on line 3i rounded to nearest dollar . This is the total credit required to be claimed over 5 years beginning in this year . . . . . . . . . . . . . . . . . . . . . . . . . . . 3j .00 k Enter the amount from line 3(j) being claimed and transferred . . . . . . . . . . . . . . . . . . . . . . . . 3k .00 i. Credit available in 2024 (Multiply line 3k by 20%) . . . . . . . . . .00 ii. Credit available in 2025 (Multiply line 3k by 20%) . . . . . . . . . .00 iii. Credit available in 2026 (Multiply line 3k by 20%) . . . . . . . . . .00 iv. Credit available in 2027 (Multiply line 3k by 20%) . . . . . . . . . .00 v. Credit available in 2028 (Multiply line 3k by 20%) . . . . . . . . . .00 For credits claimed on a Schedule HR in a previous year but not transferred until the current year: l Enter the WEDC Contract number associated with this credit 3l m Enter the total credit amount required to be spread over 5 years . . . . . . . . . . . . . . . . . . . . 3m .00 n Enter the first tax year the credit was reported on Schedule HR . . . . . . . . . . . . . . . . . . . . . 3n M M D D Y Y Y Y o Enter the amount from line 3(m) being claimed and transferred in the current year . . . . . . . 3o .00 p Total credit claimed as a property owner (add lines 3(k) and 3(o)) . . . . . . . . . . . . . . . . . . . . 3p .00 4 Historic Rehabilitation Credit Calculated using QREs Allocated from a Pass-through Entity a Enter the WEDC contract number associated with this credit 4a b Entity Name FEIN c The credit is calculated in the year the rehabilitation property is placed in service . . . . . . . 4c d The credit is calculated in the year the expenditures are paid . . . . . . . . . . . . . . . . . . . . . . . 4d e The first tax year-end the claimant received an allocation . . . . . . . . . . . . . . . . . . . . . . . . . . 4e M M D D Y Y Y Y f The last tax year-end the claimant received an allocation . . . . . . . . . . . . . . . . . . . . . . . . . . 4f M M D D Y Y Y Y g The total credit allocated to the claimant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4g .00 h Enter the amount of the credit from line 4(g) previously claimed . . . . . . . . . . . . . . . . . . . . . 4h .00 i Subtract 4(h) from 4(g), this is the amount of the credit not yet claimed . . . . . . . . . . . . . . . 4i .00 j Enter the amount from line 4(i) being claimed because it is being transferred . . . . . . . . . . . 4j .00 5 Historic Rehabilitation Credit Received in a Previous Transfer a Transferor Name Wisconsin Tax Account # b Total received in previous transfer . . . . . . . . . . . . . . . . . . . . $ Year previous transfer received c Enter the date on the Notice of Certification issued for the previous transfer . . . . . . . . . . . . 5c M M D D Y Y Y Y d Previously received transfer required to be claimed over 5 years . . . . . . . . . . . . . . . . . . . . 5d .00 e Amount of previously received credit being transferred in the current year . . . . . . . . . . . . . 5e .00 6 Total credits from other Schedules HR-5 ......................................... 6 .00 IC-534 (R. 11-24) - 2 - |