335-I: Credit for Business Contributions by an S Corporation to School Tuition Organizations – Individual (2024)
Arizona · Arizona DOR · Used for tax years 2024
Arizona Form 335-I is used by individual shareholders to claim a credit for their pro rata share of qualified contributions made by an S corporation to school tuition organizations. It reports the organizations, credit approval numbers, current-year credit, and available credit c
Who files this form
Arizona Form 335-I is for individual shareholders claiming a credit for their pro rata share of an S corporation’s qualified contributions to school tuition organizations. The 2024 form also includes space to claim available credit carryovers from 2019 through 2023.
Include this form with your return.
What you'll need
Have the following information ready:
- Your name as shown on your tax return and your Social Security number. For a joint return, also provide your spouse’s name and Social Security number.
- Each S corporation’s name and EIN.
- The names of the school tuition organizations and their credit approval numbers.
- Your pro rata share of qualified contributions from each S corporation.
- For carryovers from 2019 through 2023, the original credit amount and the amount previously used for each year.
Include a separate Part 1 for each additional S corporation. If you need more space to list school tuition organizations, include an additional schedule.
How to file
Include Form 335-I with your return. The supplied form does not give a mailing address or e-file instructions.
- Complete Part 1 with the S corporation and school tuition organization information.
- In Part 2, line 12, enter your current-year credit. If you have more than one S corporation, total line 11 from all Part 1 schedules.
- In Part 3, subtract previously used credit from the original credit for each listed year, then total the available carryovers on line 18.
- In Part 4, enter the current-year credit on line 19, the carryover on line 20, and their total on line 21.
If you did not make the Small Business Income election, transfer lines 19, 20, and 21 to Arizona Form 301, Part 1, line 12, columns (a), (b), and (c), respectively.
If you made that election, transfer those amounts to Arizona Form 301-SBI, Part 1, line 8, columns (a), (b), and (c), respectively.
Common mistakes
Follow these reminders printed on the form:
- Do not leave Form 335-I out of your return. The form says to include it.
- If claiming a pro rata share of credit from more than one S corporation, check the box in Part 1 and include a separate Part 1 for each additional corporation.
- If there is not enough space to list all school tuition organizations, complete an additional schedule and include it with the credit form.
- When claiming current-year credit from multiple S corporations, include line 11 from each additional Part 1 in the total on line 12.
Questions people ask
Can I claim credit from more than one S corporation?
Yes. Check the box in Part 1, complete a separate Part 1 for each additional S corporation, and combine the line 11 amounts on line 12.
Which carryover years are listed on the 2024 form?
Part 3 lists 2019, 2020, 2021, 2022, and 2023. For each year, subtract the amount previously used from the original credit amount to find the available carryover.
What if I run out of space for school tuition organizations?
Complete an additional schedule and include it with the credit form.
Does the Small Business Income election change where I report the credit?
Yes. If you made the election, report the Part 4 amounts on Form 301-SBI, Part 1, line 8. If you did not, report them on Form 301, Part 1, line 12. Use column (a) for current-year credit, column (b) for carryover, and column (c) for the total.