CT-1120 ATT: Corporation Business Tax Return Attachment Schedules H, I, and J (2024)
Connecticut · Connecticut DRS · Used for tax years 2024
Form CT-1120 ATT contains attachment schedules for the 2024 Connecticut Corporation Business Tax Return. Schedules I, H, and J calculate the dividend deduction, track Connecticut apportioned loss carryovers, and calculate bonus depreciation recovery.
Who files this form
Attach Form CT-1120 ATT to Form CT-1120 whenever Schedule H, I, or J is used to calculate Connecticut Corporation Business Tax:
- Schedule H: Connecticut apportioned operating loss carryover.
- Schedule I: Dividend deduction.
- Schedule J: Bonus depreciation recovery. Complete this schedule if the corporation claimed bonus depreciation under IRC § 168(k) for qualifying property on federal Form 4562.
Corporations filing as part of Form CT-1120CU use the applicable schedules as worksheets. Do not file or attach Form CT-1120 ATT to Form CT-1120CU.
What you'll need
Have the following forms and information available for the schedules you use:
- Identification: Corporation name and Connecticut Tax Registration Number.
- Schedule H: Prior-year Forms CT-1120 showing Connecticut apportioned operating losses, amounts already applied, and any eligible losses shared with or received from unitary affiliates.
- Schedule I: Dividend income included in federal taxable income, including Subpart F inclusions and GILTI amounts, and the amount from domestic corporations owned less than 20%.
- Schedule J: Federal Form 4562 and the federal and Connecticut MACRS depreciation amounts for qualifying assets, organized by the income year the assets were placed in service.
The schedule totals are reported on Form CT-1120 or, for combined unitary filers, the specified lines of Form CT-1120CU-NI.
How to file
Electronically: File Form CT-1120 ATT with Form CT-1120 using myconneCT. The instructions say myconneCT allows taxpayers to file, pay, and manage state tax responsibilities electronically.
By mail: Complete the form in blue or black ink only. Do not use staples. Use the correct year's form and attach it to Form CT-1120 when Schedule H, I, or J is used. The supplied text does not give a mailing address.
Combined unitary filers: Use the schedules as worksheets only. Do not file or attach Form CT-1120 ATT to Form CT-1120CU.
Common mistakes
- Entering negative numbers: Do not enter negative numbers in any column. Schedule H asks for loss years as positive numbers.
- Using the wrong year's form: Each form is year specific. Submit the correct year's form to avoid processing delays.
- Ignoring mailing requirements: Use blue or black ink only, and do not use staples.
- Exceeding the loss deduction limit: Schedule H, Line 22 cannot exceed 50% of Form CT-1120, Schedule A, Line 3, or 50% of Form CT-1120CU-NI, Part III, Line 8.
- Attaching worksheets to a combined unitary return: Do not file or attach Form CT-1120 ATT to Form CT-1120CU.
Questions people ask
How is the dividend deduction calculated for domestic corporations owned less than 20%?
On Schedule I, Line 2, multiply the dividends by 70%, then subtract related expenses equal to 5% of the dividends. These dividends include dividends from money market funds.
Are dividends from a real estate investment trust included on Schedule I, Line 1?
Generally, exclude them. Include them if they are deductible under IRC § 243 or are received by a qualified dividend recipient from a qualified real estate investment trust.
How is bonus depreciation recovery calculated?
On Schedule J, subtract Column A, federal MACRS depreciation after bonus depreciation, from Column B, Connecticut MACRS depreciation without bonus depreciation. Add Lines 1 through 24 in Column C and report the total on Line 26 and Form CT-1120, Schedule D, Line 14.
How do combined unitary groups report dividend and bonus depreciation recovery deductions?
Each member claiming a deduction completes a separate Schedule I or J as a worksheet. Report the group's total dividend deduction on Form CT-1120CU-NI, Part II, Line 11, and its total bonus depreciation recovery deduction on Part II, Line 12, in the Combined Group Total column. Do not attach Form CT-1120 ATT to Form CT-1120CU.