Form 55629 Schedule IN-OCC "Other Certified Credits" - Indiana

What Is Form 55629 Schedule IN-OCC?

This is a legal form that was released by the Indiana Department of Revenue - a government authority operating within Indiana. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on September 1, 2017;
  • The latest edition provided by the Indiana Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form 55629 Schedule IN-OCC by clicking the link below or browse more documents and templates provided by the Indiana Department of Revenue.

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Download Form 55629 Schedule IN-OCC "Other Certified Credits" - Indiana

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Other Certified Credits
Schedule IN-OCC
Enclosure
State Form 55629
Sequence No. 25
2017
(R3 / 9-17)
Name shown on Form IT-40/IT-40PNR
Your Social Security Number
Name shown on IT-20/IT-20NP/IT-65/IT-20S/FIT-20
Federal ID Number
Complete this schedule if you are reporting any of the following credits: Hoosier Business Investment Credit; Hoosier Business Investment Credit - Com-
posite; Hoosier Business Investment Credit - Logistics; Hoosier Business Investment Credit - Logistics - Composite; Natural Gas Commercial Vehicle
Credit; Natural Gas Commercial Vehicle Credit - Composite; School Scholarship Credit; School Scholarship Credit - Composite.
Column A
Column B
Column C
Column D
Column E
IT-20S/IT65
Certification/
Federal ID# if Credit
Certification
Project
Tax Credit
Amount
is from IN K-1
Year
Number
Code
Claimed
.00
1.
1
.00
2.
2
.00
3.
3
.00
4.
4
.00
5.
5
.00
6.
6
.00
7.
7
.00
8.
8
.00
9.
9
.00
10.
10
.00
11.
11
.00
12.
12
.00
13.
13
.00
14.
14
.00
15.
15
.00
16.
16
17. Add amounts from Column E, lines 1 - 16, and enter total here. Carry to the
appropriate line on: Schedule 6; Schedule G; Form IT-20; Form IT-20NP; or
.00
Form FIT-20 (Form IT-65 and Form IT-20S filers must see special reporting instructions) ____Total
17
*21517111694*
21517111694
Other Certified Credits
Schedule IN-OCC
Enclosure
State Form 55629
Sequence No. 25
2017
(R3 / 9-17)
Name shown on Form IT-40/IT-40PNR
Your Social Security Number
Name shown on IT-20/IT-20NP/IT-65/IT-20S/FIT-20
Federal ID Number
Complete this schedule if you are reporting any of the following credits: Hoosier Business Investment Credit; Hoosier Business Investment Credit - Com-
posite; Hoosier Business Investment Credit - Logistics; Hoosier Business Investment Credit - Logistics - Composite; Natural Gas Commercial Vehicle
Credit; Natural Gas Commercial Vehicle Credit - Composite; School Scholarship Credit; School Scholarship Credit - Composite.
Column A
Column B
Column C
Column D
Column E
IT-20S/IT65
Certification/
Federal ID# if Credit
Certification
Project
Tax Credit
Amount
is from IN K-1
Year
Number
Code
Claimed
.00
1.
1
.00
2.
2
.00
3.
3
.00
4.
4
.00
5.
5
.00
6.
6
.00
7.
7
.00
8.
8
.00
9.
9
.00
10.
10
.00
11.
11
.00
12.
12
.00
13.
13
.00
14.
14
.00
15.
15
.00
16.
16
17. Add amounts from Column E, lines 1 - 16, and enter total here. Carry to the
appropriate line on: Schedule 6; Schedule G; Form IT-20; Form IT-20NP; or
.00
Form FIT-20 (Form IT-65 and Form IT-20S filers must see special reporting instructions) ____Total
17
*21517111694*
21517111694
Instructions for Other Certified Credits
*4-Digit Code Utilization.
Who Must Complete This Schedule
You must complete this schedule if you are reporting any of the
The 4-digit code represents a certified credit that has been used to
following credits:
offset a nonresident shareholder’s/partner’s (taxpayer’s) composite
tax on the Indiana S corporation/partnership return.
Tax Credit
If the nonresident taxpayer has other Indiana-source income, he will
Credit Name
Code
need to file an individual income tax return with Indiana. Since the
Hoosier Business Investment Credit
820
income taxed for composite purposes will also be included on the
Hoosier Business Investment Credit – Composite
*1820
taxpayer’s income tax return, the amount of the credit used on the
composite filing may also be used to offset tax due on the individual
Hoosier Business Investment Credit – Logistics
860
tax return.
Hoosier Business Investment Credit – Logistics –
Composite
*1860
Example: Partnership A has a Hoosier
Business Investment (HBI)
Natural Gas Commercial Vehicle Credit
858
Credit. As a nonresident partner, Jim’s share of that credit is $700.
The partnership used $400 of Jim’s credit to offset his tax liability
Natural Gas Commercial Vehicle Credit –
on the composite filing, leaving a $300 remaining credit. The IN K-1
Composite
*1858
will breakdown the credit as follows:
School Scholarship Credit
849
School Scholarship Credit – Composite
*1849
Credit Name
3- or 4-Digit Code
Amount
HBI Credit – Composite
1820
$400
Line-by-line Instructions
Enter the name of the entity claiming the credit(s).
HBI Credit
820
$300
Enter the corresponding Social Security number or federal ID
Since Jim has other Indiana-source income, he will file Form
number.
IT-40PNR, reporting all Indiana-source income (including his income
taxed on the composite return). When completing the IN-OCC, he
Columns A – E. The following information details how to
will be able to use up to $700 of his HBI credit, using the amount
complete Columns A - E. If you are claiming more than one 3- digit
associated with the 4-digit number first.
and/or or 4-digit credit, please enter each one separately.
For example, if his total state tax liability is $500, he will list “HBI
Column A. If you are a member of an S corporation or partnership
1820 $400” on Schedule IN-OCC, and then report the remaining
and are claiming one or more of the above credits from your
amount needed as “HBI 820 $100”. He will have a remaining $200
IN K-1, enter the federal ID number of the S corporation or
HBI credit (3-digit code 820) available to be carried forward.
partnership in this column. If the credit you are reporting does not
flow from an S corporation or partnership, leave this column blank.
Important.
The credit used to offset the composite tax, labeled with
a 4-digit code, must be utilized on the individual tax return prior to
Do not use a dash when entering the number. For example, enter
using any credit labeled with a 3-digit credit code.
12-3456789 as 123456789.
The 4-digit code has the same carryforward provision as does its
Column B. Enter the tax year for which the credit has been
equivalent 3-digit code.
certified. You can find this information in the certification letter
you received from the authorizing entity or on your IN K-1, if
Column E. Enter the amount of credit you are claiming.
applicable.
Limitation. The credits listed on this schedule are limited to offset
Column C. Certification or project numbers and PINs can be either
Indiana adjusted gross income tax. For example, if your School
all numeric, alpha, or a mixture of numeric and alpha characters.
Scholarship Credit is $500 and your adjusted gross income tax
Enter the certification or project number you received from the
is $425, you should enter the $425 limited amount in Column E.
authorizing entity. You can find this number in the certification letter
Since any unused portion of this credit is eligible to be carried
you received from the authorizing entity or on your IN K-1. If you
over to the next tax year, you will be eligible to claim the remaining
also have received a PIN, add it to the right of your project number
$75 credit on next year’s tax return.
and enter the combined number in this box.
Line 17
For example, express the combined certification or project number
Once you have completed this schedule, carry the credit amount
“123AN6” and PIN “1B34” as “123AN61B34” in Column C. Do not
from Column E, line 17, to the appropriate form/schedule
include any dashes.
(Schedule 6 or Schedule G for individual filers, Form IT-20, Form
IT-41 or Form FIT-20), and enclose this schedule when filing your
Column D. Enter the 3- or 4-digit* tax code number associated
tax return.
with the credit.
*24100000000*
24100000000
Form IT-20S/IT-65 filers must see the following Special Instructions.
Special Instructions for Form IT-20S/IT-65 Filers:
If filing this schedule with the IT-20S or IT-65, only reflect the credit
amounts for the partners/shareholders included on the composite
return. Do not include credits from the IN K-1’s that are for Indiana
residents. Enter the combined pro rata credits on one line of the
IN-OCC; do not enter a line for each composite member.
If the IT-20S or IT-65 has received an IN K-1 reflecting a 4-digit pass-
through credit from another entity that has already been utilized on a
mandatory composite filing on the behalf of the current filing entity,
this amount must be reflected on the IN-OCC prior to any unutilized
3-digit credit code amount.
The total amount of 3- and 4-digit credit codes claimed against the
composite return cannot exceed the entity’s total tax due. In addition,
use tax cannot be offset by these nonrefundable credits if included
in the total tax due.
*24100000000*
24100000000
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