Schedule EPT-C: Electing Pass-Through Entity Credit Schedule (2024)
Alabama · Alabama DOR · Used for tax years 2024
Alabama Schedule EPT-C is attached to Form EPT to report electing pass-through entity credits for 2024. It calculates credits used against current tax liability, credit carryforwards, and refundable amounts for the 2017 Alabama Historic Rehabilitation Tax Credit and the Railroad
Who files this form
Schedule EPT-C is the credit schedule for electing pass-through entities reporting the following credits on Form EPT:
- 2017 Alabama Historic Rehabilitation Tax Credit.
- Railroad Modernization Act of 2019 credit.
The schedule must be attached to Form EPT.
What you'll need
Have these records and details available:
- Form EPT: the name shown on the return, federal employer identification number, and tax due from page 1, line 2.
- Historic rehabilitation credits: the tax credit certificate for each project, including its project number, date placed in service, and credit amount.
- Railroad modernization credits: the Department of Commerce Certificate or the Transfer Credit Certificate issued by the Department of Revenue, including the credit amount.
How to file
Submit business credits through My Alabama Taxes (MAT) before completing Schedule EPT-C. The form refers to instructions for submission details, but no instructions were supplied here.
To complete the schedule:
- Enter the name shown on Form EPT and the federal employer identification number.
- Copy the tax due from Form EPT, page 1, line 2, to Section A and Section C, Part A, Column 4.
- Enter the applicable certificate information and credit amounts in Section B.
- Complete the credit summary in Section C. Total Column 5 and enter that total on Form EPT, page 1, line 3.
- Complete Section D for refundable credits. Enter its line 3 total on Form EPT, page 1, line 5e.
Attach Schedule EPT-C to Form EPT. The supplied form does not give a mailing address or an e-file method for the schedule.
Common mistakes
- Completing the schedule before submitting business credits through MAT. The form says this submission must happen first.
- Leaving Schedule EPT-C unattached. The form specifically says to attach it to Form EPT.
Questions people ask
How do I report more than one historic rehabilitation project?
Enter the certificate information for each project in Section B, Part A. Add all project credits and enter the total on line 2 and in Section C, Part A, Column 3.
Which certificate box do I check for the railroad modernization credit?
Section B, Part B has a box on line 1a for a Department of Commerce Certificate and a box on line 1b for a Transfer Credit Certificate. Enter the credit amount reported on the applicable certificate on line 2.
What happens when an allowable credit is greater than the remaining tax?
In Section C, enter the remaining tax from Column 4 in Column 5 as the amount used. Enter the excess allowable credit in Column 7.
Which amounts go in the refundable credit section?
For the historic rehabilitation credit, copy Section C, Part A, Column 7 to Section D, line 1. For the railroad modernization credit, copy Section C, Part B, Column 7 to Section D, line 2 if the Department of Commerce Certificate box on Section B, Part B, line 1a is checked. Add the two lines and report the total on Form EPT, page 1, line 5e.