This version of the form is not currently in use and is provided for reference only. Download this version of Instructions for Form IC-833 Schedule LI for the current year.
This document contains official instructions for Form IC-833 Schedule LI, Wisconsin Low-Income Housing Tax Credit - a form released and collected by the Wisconsin Department of Revenue. An up-to-date fillable Form IC-833 Schedule LI is available for download through this link.
Q: What is Form IC-833 Schedule LI?
A: Form IC-833 Schedule LI is a Wisconsin state tax form used to claim the Low-Income Housing Tax Credit in Wisconsin.
Q: What is the Low-Income Housing Tax Credit?
A: The Low-Income Housing Tax Credit is a tax incentive program that encourages the development of affordable rental housing for low-income individuals and families.
Q: Who is eligible to claim the Low-Income Housing Tax Credit in Wisconsin?
A: Developers and owners of qualifying low-income housing projects in Wisconsin are eligible to claim the Low-Income Housing Tax Credit.
Q: What information is required to complete Form IC-833 Schedule LI?
A: Form IC-833 Schedule LI requires information about the low-income housing project, including the number of units, qualifying income levels, and eligible project costs.
Q: When is the deadline to file Form IC-833 Schedule LI?
A: The deadline to file Form IC-833 Schedule LI is the same as the deadline to file your Wisconsin state tax return, typically April 15th.
Q: Can I claim the Low-Income Housing Tax Credit on my federal tax return?
A: No, the Low-Income Housing Tax Credit can only be claimed on your Wisconsin state tax return.
Q: Are there any limitations or restrictions on claiming the Low-Income Housing Tax Credit?
A: Yes, there are certain limitations and restrictions on claiming the Low-Income Housing Tax Credit, including income limits for eligible tenants and compliance with program requirements.
Q: Do I need to attach any supporting documentation to Form IC-833 Schedule LI?
A: Yes, you may need to attach supporting documentation, such as rental income certifications and cost certifications, to Form IC-833 Schedule LI.
Q: Who should I contact if I have questions or need assistance with Form IC-833 Schedule LI?
A: You should contact the Wisconsin Department of Revenue or consult a tax professional if you have questions or need assistance with Form IC-833 Schedule LI.
Instruction Details:
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