RECAP: Tax Credit Recap Schedule (2024)
West Virginia · WV Tax Division · Used for tax years 2024
The 2024 West Virginia RECAP Tax Credit Recap Schedule summarizes tax credits claimed with Form IT-140. It lists individual credit amounts and totals nonrefundable credits for entry on IT-140, line 9.
Who files this form
If you claim a tax credit on your 2024 West Virginia Form IT-140, you must include the RECAP Tax Credit Recap Schedule and the appropriate credit calculation schedules or forms with your return.
The form provides an exception for other states’ returns and Schedule NIPA-2: keep these in your files rather than enclosing them.
What you'll need
- Your 2024 RECAP Tax Credit Recap Schedule.
- The appropriate calculation schedules or forms for the credits you claim, subject to the exceptions below.
- A copy of federal Form 2441 if you claim the Child and Dependent Care Credit on line 18.
For Schedule E credits, keep the other states’ returns in your files. You do not need to enclose those returns. For the Neighborhood Investment Program Credit, keep Schedule NIPA-2 in your files rather than enclosing it.
How to file
Include RECAP and the required credit calculation schedules or forms with your Form IT-140 return. Other states’ returns and Schedule NIPA-2 do not need to be enclosed, but you must keep them in your files.
Add the credits on RECAP lines 1 through 26 and enter the total nonrefundable credits on line 27. Enter that total on Form IT-140, line 9.
Common mistakes
- Leaving out RECAP or required credit calculation schedules or forms. The form says these must be enclosed to claim a credit, subject to the stated exceptions.
- Claiming the credit for tax paid to another state for wage and salary withholdings paid to KY, MD, OH, PA or VA. The form specifically prohibits this.
- Failing to keep other states’ returns or Schedule NIPA-2 in your files when claiming the related credits.
- Forgetting to include a copy of federal Form 2441 when claiming the Child and Dependent Care Credit.
Questions people ask
Where does the RECAP total go?
Add the credits on RECAP lines 1 through 26 and enter the total on line 27. Carry that total to Form IT-140, line 9.
Do I need to attach another state’s return for a Schedule E credit?
No. You must keep the other state’s return in your files, but you no longer need to enclose it with your return.
Who can use the West Virginia Jumpstart Savings Program Credit listed on RECAP?
Line 19 labels this credit as “Employer Use Only” and lists Schedule JSP-1.
Where can I get more information about these credits?
Visit tax.wv.gov or call the Taxpayer Services Division at 1-800-982-8297.