Use the California Tax Form Calculator California Tax Form 3521: Low-Income Housing Credit as a stand alone tax form calculator to quickly calculate specific amounts for your 2023 California state tax return. California Tax Form 3521: Low-Income Housing Credit is also integrated into our comprehensive California State Tax Calculator where you can complete and save your calculations for later use. Alternatively you can use one of our Combined Federal and California State Tax Estimator to quickly calculate your salary, tax and take home pay in California.
|Part I Available Credit|
|1||Has the eligible basis of any project or building decreased since you received form CTCAC 3521A from the California Tax Credit Allocation Committee?|
If “Yes,” complete Part III before continuing. See General Information C.
|3||Enter any affiliated corporation or pass-through low-income housing credits from other entities below. See instructions|
|Current year low-income housing credits from –||(a)|
Name of entity passing through the credit –
|(b) Identification numbers – California corporation, FEIN, etc.||(c)|
Total amount of affiliated corporation or pass-through credit(s)
|FTB 3521, line 10 of the affiliated corporation|
|Schedule K-1 (100S), line 13a|
|Schedule K-1 (541), line 13d|
|Schedule K-1 (565, 568), line 15b|
If none of the amount on line 4 is from passive activities, enter -0-
|10||Corporations only: Amount of low-income housing credit allocated to affiliated corporations: See instructions.|
|Corporation name||California corporation number||Amount of credit allocated|
|Part II Carryover Computation|
(Do not include any assigned credit claimed on form FTB 3544A.)
If you are not a corporation, enter -0-. See instructions
|Part III Basis Recomputations. Complete this part only if the basis in a project or building has decreased. Use additional sheets if necessary.|
|14||Date building was placed in service (month/year)||14|
|16||Eligible basis of building. See General Information C||16|
|17||Low-income portion (lesser of unit percentage or floor-space percentage). See instructions||17|
|18||Qualified basis of low-income building. Multiply line 16 by line 17||18|
|19||Applicable percentage. See General Information B||19|
|20||Multiply line 18 by line 19. See Specific Line Instructions for Part I, line 2||20|
Tip: use the California Tax Calculator to edit your refundable and non-refundable tax credits including California Tax Form 3521: Low-Income Housing Credit. Complete, Calculate, print and or save your tax calculation for later use.
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