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Instructions for Form IC-034 Schedule HR
for the current year.
Instructions for Form IC-034 Schedule HR Wisconsin Historic Rehabilitation Credits - Wisconsin
This document contains official instructions for Form IC-034 Schedule HR, Wisconsin Historic Rehabilitation Credits - a form released and collected by the Wisconsin Department of Revenue. An up-to-date fillable Form IC-034 Schedule HR is available for download through this link.
FAQ
Q: What is Form IC-034 Schedule HR?
A: Form IC-034 Schedule HR is a tax form used in the state of Wisconsin to claim the Wisconsin Historic Rehabilitation Credits.
Q: What are the Wisconsin Historic Rehabilitation Credits?
A: The Wisconsin Historic Rehabilitation Credits are tax credits available to individuals and businesses in Wisconsin who invest in the rehabilitation of historic properties.
Q: Who is eligible to claim the Wisconsin Historic Rehabilitation Credits?
A: Individuals, corporations, partnerships, and limited liability companies engaged in the rehabilitation of historic properties in Wisconsin may be eligible to claim these credits.
Q: What expenses qualify for the Wisconsin Historic Rehabilitation Credits?
A: Expenses related to the rehabilitation and preservation of a certified historic structure in Wisconsin may qualify for these credits. This includes expenses for construction, restoration, and architectural services.
Q: How much can I claim in Wisconsin Historic Rehabilitation Credits?
A: The amount of credits that can be claimed depends on the qualified rehabilitation expenses and the type of property. There are specific formulas and limitations outlined in the instructions for Form IC-034 Schedule HR.
Q: Are there any deadlines for filing Form IC-034 Schedule HR?
A: Yes, the form must be filed by the due date of your Wisconsin income tax return, including extensions, if applicable.
Q: Are the Wisconsin Historic Rehabilitation Credits refundable?
A: No, the credits are nonrefundable. However, any unused credits can be carried forward for up to 15 years.
Q: Can I claim both the federal and Wisconsin Historic Rehabilitation Credits?
A: Yes, it is possible to claim both the federal Historic Rehabilitation Tax Credit and the Wisconsin Historic Rehabilitation Credits, as long as you meet the eligibility requirements for each.
Instruction Details:
- This 7-page document is available for download in PDF;
- Actual and applicable for this year;
- Complete, printable, and free.
Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of forms released by the Wisconsin Department of Revenue.
Download Instructions for Form IC-034 Schedule HR Wisconsin Historic Rehabilitation Credits - Wisconsin
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