301: Individual Tax Credits and Recapture (2025)
Arizona · Arizona DOR · Used for tax years 2025
Arizona Form 301 summarizes nonrefundable individual income tax credits and credit recapture for Forms 140, 140PY, 140NR and 140X. It reports current-year credits, available carryovers, credits used during the tax year and tax from recaptured credits.
Who files this form
If you compute credits listed on Form 301, you must include Form 301 and the corresponding credit forms with your individual income tax return.
The 2025 form covers nonrefundable individual tax credits and credit recapture for Arizona Forms 140, 140PY, 140NR and 140X.
What you'll need
- Your Arizona individual income tax return: Form 140, 140PY, 140NR or 140X.
- The corresponding credit forms for each credit you computed. These must be included with your return along with Form 301.
- Forms 334, 349 or 354, if you are reporting the credit recapture amounts listed in Part 2.
- Form 301-SBI, if you are reporting tax credits used from that form on line 59.
Enter your name and Social Security number, plus your spouse’s name and Social Security number if filing a joint return.
How to file
Include Form 301 and the corresponding credit forms with your individual income tax return.
- In Part 1, enter the available credits and add lines 1 through 23 on line 25.
- In Part 2, enter your tax, any listed credit recapture amounts and credits actually used this taxable year.
- Transfer the total credits used from line 60 to Form 140, line 51; Form 140PY, line 61; Form 140NR, line 60; or Form 140X, line 41.
The supplied text does not provide a mailing address or e-filing instructions.
Common mistakes
- Leaving out required forms. The form specifically reminds you to include Form 301 and the corresponding credit forms with your return.
- Reporting too much in total credits used. Line 60 states that total credits used cannot be more than line 33.
Questions people ask
Where do I report available credit carryovers?
Part 1 has columns for current-year credit, available carryover and total available credit. The total is the current-year credit plus the available carryover.
Is the total available credit the same as the amount used this year?
The form reports these separately. Part 1 lists total available credits. Part 2 lists amounts actually used this taxable year. Total credits used on line 60 cannot exceed line 33.
Which credit recaptures are listed on Form 301?
Lines 27 through 29 list recapture for Motion Picture Production Costs from Form 334, Qualified Facilities from Form 349 and Affordable Housing from Form 354. Add these amounts on line 30 and transfer the total to the return line shown there.
What if line 31 minus line 32 is negative?
Enter “0” on line 33 if the difference is less than zero.