FormHR-T: FormHR-T (2024)
Wisconsin · Wisconsin DOR · Used for tax years 2024
Wisconsin Form HR-T documents a transfer of the supplement to the federal historic rehabilitation credit. It identifies the transferor and transferee and reports transferred credit amounts associated with Schedules HR-5, HR, and CF.
Who files this form
Form HR-T documents a transfer of the Wisconsin supplement to the federal historic rehabilitation credit. It asks for information about the transferor, the transferee, and the transferred credit.
The transferor or an authorized representative must sign the certification. The certification states that the transferee is subject to Wisconsin income or franchise tax, or is transferring the credit to another person who is subject to that tax.
What you'll need
Have the following information and applicable schedules ready:
- Transferor and transferee names and identifying numbers, plus the address and contact information requested on the form.
- Schedule HR-5 for transferred credit required to be claimed over five years, including the current year.
- Schedule HR for transferred credit claimed in the year calculated, when that is the current year.
- Schedule CF for transferred credit claimed in a prior year and included on that schedule.
- The number of attached Schedules HR-5 and HR, and the total of line 1 from each group of schedules.
The form also asks whether a single owner of a disregarded entity is transferring the credit and requests the disregarded entity's FEIN.
Common mistakes
- Do not select just one credit category if more than one applies. Line 2 says to check all that apply.
- If you check line 2a for credit reported on Schedule HR-5, complete line 3.
- If you check line 2b for credit reported on Schedule HR, complete line 4.
- If you want the listed contact person to discuss the form with the department, check the authorization box. The form notes that the contact person may need a power of attorney.
Questions people ask
How do I calculate the total credit on line 1?
Add lines 3b and 4b. Line 3b is the sum of line 1 from all attached Schedules HR-5. Line 4b is the sum of line 1 from all attached Schedules HR.
When does Schedule HR-5 apply?
Line 2a applies when all or part of the transferred credit is reported on an attached Schedule HR-5 because it must be claimed over five years, one of which is the current year.
Where do I identify credit claimed in a prior year?
Check line 2c if all or part of the transferred credit was claimed in a prior year and is included on Schedule CF.
Who signs Form HR-T?
The transferor or an authorized representative signs Section D and provides a printed name and date. The signature certifies the statements about qualifying expenditures and the transferee's tax status.
What classification choices does the form give an LLC?
The form lists partnership, corporation, and disregarded entity.