Form 8586 is the official IRS worksheet used to claim the Low‑Income Housing Credit. Whether you are an individual, partnership, S‑corporation, trust, or estate, this one‑page form aggregates the credit amounts calculated on Form 8609‑A and reports them on your tax return.
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Form 8586 summarizes the low‑income housing credit for the tax year. It collects:
The total from Form 8586 is then entered on Form 3800, Line 4d as part of the general business credit.
Follow the simple steps below to complete the form without downloading any software.
Even a small error can delay your credit. Watch out for:
Double‑check each line against your supporting schedules before saving.
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Below are answers to the most common queries from taxpayers and tax professionals.
Any taxpayer who claims the Low‑Income Housing Credit—individuals, partnerships, S‑corporations, estates, and trusts—must file Form 8586 to report the credit amount.
Yes. For each qualified building you must attach a completed Form 8609‑A. The number of attached forms is reported on Line 1 of Form 8586.
Form 8586 itself is not filed electronically, but you can complete the fillable PDF online, save it, and then attach the scanned copy to your electronic tax return (e‑file) as part of the supporting documents.
A decrease in qualified basis may trigger a recapture of the credit. You must answer “Yes” on Line 2 and list the affected building identification numbers.
The total credit from Form 8586 is entered on Form 3800, Line 4d, as part of the general business credit.
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Form 8586 è uno dei moduli fiscali che sono documenti utilizzati per segnalare informazioni relative alle imposte all'autorità fiscale competente. Esistono vari tipi di moduli fiscali, inclusi moduli fiscali federali, statali e locali, che possono variare a seconda delle circostanze e dell'ubicazione del contribuente.
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