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Form 8611: Recapture of Low-Income Housing Credit
IRS Form 8611 is used for Recapture of Low-Income Housing Credit and is filed by those who must recapture part of the low-income housing credit they claimed in previous years.
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IRS Form 8611 - Recapture of Low-Income Housing Credit
IRS Form 8611 is used for Recapture of Low-Income Housing Credit and is filed by those who must recapture part of the low-income housing credit they claimed in previous years.
Risk Radar
Scan points- 1Ensure you do not recapture the entire amount shown on Line 5 if there was a prior recapture of accelerated credits.
- 2Failing to report recapture when the qualified basis decreases from one year to the next.
- 3Not completing lines 1 through 7 if the recapture is not passed through from a flow-through entity.
- 4Omitting prior recapture amounts on Line 7 if they existed for accelerated credits.
- 5Incorrectly calculating unused portion of accelerated amount on Line 9 using all five steps.
Plain English
This form documents when a taxpayer has to give back some of the low-income housing credits they previously received. This happens if the value of the property goes down, or if the owner sells the building without following required procedures. The filing ensures the IRS knows exactly how much credit must be recaptured.
Submission Date
- Filing date: 2021-12-09 22:10:49
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when recapturing part of the low-income housing credit claimed in previous years because the qualified basis decreased from one year to the next or a building was disposed of, provided recapture procedures were not followed to prevent it.
- Do not use Form 8611 if no recapture is necessary; in that case, no action related to this form is required.
- Check Form 8609 instead when reporting the initial claim and basis information for the building.
Form selector
Use this form or another form?
Recapture passed through from a flow-through entity
Skip lines 1–7 on Form 8611 and proceed directly to line 8.
✓ Confirm the type of flow-through entity is listed.
Flow-Through Entity (Partnership, S Corp, Estate, Trust)
Building financed with tax-exempt bonds
If financing involves tax-exempt bonds, furnish issuer name, date of issue, name of issue, and CUSIP number on Form 8611.
✓ Ensure all four required bond details are provided if applicable.
Section 42(j)(5) Partnership Recapture
Only this specific partnership type completes lines 7 and 16 on Form 8611.
✓ Verify the entity meets the definition of a section 42(j)(5) partnership.
Section 42(j)(5) Partnership (35+ partners)
Deadline or filing window
The form is used when recapture results from a decrease in qualified basis or disposition of an interest. Interest must be figured daily until the earlier of (a) the due date of the recapture year's return, or (b) the date that return is filed and tax is fully paid.
Checklist
What you need before filling it out
Building identification number (BIN)
The specific BIN of the building · Line D on Form 8611
Date placed in service
Date from Form 8609 · Line E on Form 8611
Recapture amount (Line 2)
Calculated total recapture amount after worksheet steps · Line 2 on Form 8611
B (Identifying number)
The taxpayer's Identifying Number · Line B on Form 8611
Interest calculation
Overpayment rate determined under section 6621(a)(1) · Figure separately for each prior tax year (Form p.3)
Before you submit
- 1Complete a separate Form 8611 for every building to which recapture applies.
- 2Ensure Name(s) shown on return are accurately listed on Line A.
- 3Verify that if tax-exempt bonds were used, all four required bond details (Issuer's name, Date of issue, etc.) are furnished.
- 4Confirm the appropriate starting line is used: lines 1–7 or line 8 if recapture is passed through from a flow-through entity.
- 5If using worksheets, confirm Line 2 reflects the total amount calculated by adding up all worksheet 'i' amounts.
- 6For interest calculations (Form p.3), verify that the compounding period runs until the earlier of the prior year's due date or the recapture year's filing date/payment date.
- 7Attach Form 8611 to your relevant tax return.
How to file this form
- 1Complete the required lines (A through F, and potentially line 7/16) on Form 8611 for each building subject to recapture.
- 2Calculate the total recapture amount using the worksheet steps, ensuring interest is figured separately for prior years at the overpayment rate under section 6621(a)(1).
- 3Enter the final calculated recapture amount onto Line 2 of Form 8611 and complete any necessary lines (like line 16* if applicable to a partnership).
- 4Sign the completed Form 8611 and attach it to your tax return for filing.
Known limitations
- 1Recapture does not apply if the filer disposed of the building or an ownership interest in it and satisfies the requirements for avoiding recapture outlined under Building dispositions.
- 2Recapture does not apply if the filer disposed of an ownership interest in a building held through a partnership to which section 42(j)(5) applies.
- 3Recapture does not apply if the decrease in qualified basis does not exceed the additions to qualified basis for which credits were allowable in years after the first year of the credit period.
- 4Recapture does not apply if the qualified basis is reduced because of a casualty loss, provided the property is restored or replaced within a reasonable period.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Revision December 2021 (Rev. 12-2021). The form directs users to www.irs.gov/Form8611 for the latest information regarding developments related to Form 8611 and its instructions.
What changed or needs a fresh check
- Edition date — confirm the revision date reads December 2021 (Rev. 12-2021).
- Mailing address — Not stated in the official source.
- Signature — A signature is required to complete and file Form 8611.
- Form number — confirm the form number reads 8611.
- OMB Number — confirm the OMB No. is 1545-1035.
Quick Facts
Downloads
After you file
- 1Keep a copy of Form 8611 after filing it with the IRS.
- 2Retain copies of Forms 8586, 8609, 8609-A (or predecessor, Schedule A (Form 8609)), 8611, and 8693 for 3 years after the 15-year compliance period ends.
- 3If recapturing from a section 42(j)(5) partnership, ensure line 11 of Form 8611 shows "Section 42(j)(5)\" to document the source.
- 4Carry forward the low-income housing credit attributable to this building to the next tax year using the instructions for Form 3800.
Sources
- SRCForm 8611 is used for Recapture of Low-Income Housing Credit (Instructions p.1)
- SRCComplete a separate Form 8611 for each building to which recapture applies (Instructions p.1)
- SRCUse this form if the qualified basis decreased or you disposed of a building/interest without preventing recapture (Purpose of Form, Instructions p.2)
- SRCKeep copies of Forms 8586, 8609, 8609-A, 8611, and 8693 for 3 years after the 15-year compliance period ends (Recordkeeping, Instructions p.2)
- SRCThe entire amount shown on line 5 must be recaptured (Specific Instructions, Instructions p.3)
- SRCIf Line 8 recapture is from a section 42(j)(5) partnership, enter "-0-" on line 11 and write "Section 42(j)(5)" to the left of line 11 (Specific Instructions, Instructions p.3)
Common confusion points
What do I report on Line 7 if there was a prior recapture?
The amount reported on Line 5 must be recaptured entirely; what does that mean?
How do I fill out the worksheet calculation (Lines 2a through 2g)?
When should I use the specific instructions for line 9 regarding unused accelerated credits?
If my recapture comes from a section 42(j)(5) partnership, what do Lines 11 and 9 look like?
Do I need to include credits taken by previous owners on Form 8611?
Workflow map
Related forms and next steps
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Questions about IRS Form 8611
What is IRS Form 8611 used for?
This form documents when a taxpayer has to give back some of the low-income housing credits they previously received. This happens if the value of the property goes down, or if the owner sells the building without following required procedures. The filing ensures the IRS knows exactly how much credit must be recaptured.
Who must file IRS Form 8611?
This form is used by individuals or entities who must recapture part of the low-income housing credit claimed in previous years because the qualified basis decreased or they disposed of a building/interest therein without preventing recapture.
What information does IRS Form 8611 require?
The form collects details such as the total credits claimed on the building (Line 1), calculations related to prior year amounts (Lines 2 through 14), and information regarding financing via tax-exempt bonds (Item F).
When is IRS Form 8611 due?
The source does not specify a filing deadline, but it requires figures for each prior tax year for which a credit is being recaptured.
Where do I file IRS Form 8611?
The instructions do not list specific service centers, but the form references www.irs.gov/Form8611 for the latest information about developments related to Form 8611 and its instructions.
How do I complete IRS Form 8611?
First, enter total prior credits on Line 1 and complete the worksheet calculations for Lines 2 through 14. If recapture is passed through from a flow-through entity, skip lines 1–7 and start at line 8. Finally, calculate interest separately for each prior tax year and report it on Line 11.
What happens if IRS Form 8611 is filed incorrectly?
If recapture is required due to a decrease in qualified basis or disposition of an interest, failing to file correctly means the taxpayer must report this change using Form 8611.
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