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Tennessee Free Printable Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004) for 2024 Tennessee Low Income Housing Tax Credit (LIHTC) Schedule and Instructions

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Low Income Housing Tax Credit (LIHTC) Schedule and Instructions
Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004)

TENNESSEE DEPARTMENT OF REVENUE LOW INCOME HOUSING TAX CREDIT (LIHTC) SCHEDULE AND INSTRUCTIONS TAXABLE YEAR ACCOUNT NO./FEIN/SSN TAXPAYER NAME SCHEDULE Y (FORM FAE 170) - LOW INCOME HOUSING TAX CREDIT (LIHTC) Location 1: Effective Date _____________________________ County Where Located _______________ BIN ___________ LIHTC COMPUTATION 1. Actual Property Tax ............................................................................................... (1) ________________ 2. Less average property tax for LIHTC property in this county: UNIT NUMBER AVERAGE OF UNITS $ ____________ X _____________ ................. (2) ________________ 3. Unbudgeted property tax credit (Line 1 less Line 2) ....................................................................................... (3) __________________ Location 2: Effective Date _____________________________ County Where Located _______________ BIN ___________ LIHTC COMPUTATION 1. Actual Property Tax ............................................................................................... (1) ________________ 2. Less average property tax for LIHTC property in this county: UNIT NUMBER AVERAGE OF UNITS $ ____________ X _____________ ................. (2) ________________ 3. Unbudgeted property tax credit (Line 1 less Line 2) ....................................................................................... (3) __________________ Location 3: Effective Date _____________________________ County Where Located _______________ BIN ___________ LIHTC COMPUTATION 1. Actual Property Tax ............................................................................................... (1) ________________ 2. Less average property tax for LIHTC property in this county: UNIT NUMBER AVERAGE OF UNITS $ ____________ X _____________ ................. (2) ________________ 3. Unbudgeted property tax credit (Line 1 less Line 2) ....................................................................................... (3) __________________ TOTAL LIHTC (Add all Line 3 amounts and enter on Schedule D, Line 3) ............... ______________ RV-F1403401 INTERNET (12-04) SCHEDULE Y LIHTC INSTRUCTIONS: NOTE: Complete a separate section on the form for each location of LIHTC property. If additional pages are needed to report all properties, compute one overall LIHTC total. Effective Date: Enter the date that this LIHTC property began participating in the low income housing tax credit program authorized by Section 42 of the Internal Revenue Code. County Where Located: Enter the name of county in which this LIHTC property is located. BIN: Enter the Building Identification Number assigned to the LIHTC property by THDA. COMPUTATIONS: Line 1: Enter the actual amount of property tax due on this LIHTC property for this taxable period. Line 2: Enter the average property taxes projected for LIHTC property in the county in the LIHTC program for applications filed prior to June 28, 2000, but after 1995, and based on the final applications. The average property tax is the Unit Average in the county multiplied by the number of units at the LIHTC property location in that county. A Unit Average is provided on the schedule found on the Department of Revenue's website at www.state.tn.us/revenue. A LIHTC is available for only those counties listed on the Unit Average Schedule. Line 3: Line 1 less Line 2. If the result is zero or less than zero, then enter zero. Transfer Line 3 to Schedule D, Line 3 of the Franchise, Excise tax return for this taxable period. If multiple locations exist, Line 3 is the total of all locations. NOTE: With respect to each LIHTC property, the credit exists for five (5) years and shall expire after the fifth year for which it is claimed. INTERNET (12-04)
Extracted from PDF file 2023-tennessee-fae-schd-y.pdf, last modified December 2004

More about the Tennessee FAE-Schd-Y Corporate Income Tax Tax Credit TY 2023

Low Income Housing Tax Credit (LIHTC) Schedule and Instructions

We last updated the Low Income Housing Tax Credit (LIHTC) Schedule and Instructions in February 2024, so this is the latest version of FAE-Schd-Y, fully updated for tax year 2023. You can download or print current or past-year PDFs of FAE-Schd-Y directly from TaxFormFinder. You can print other Tennessee tax forms here.


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Related Tennessee Corporate Income Tax Forms:

TaxFormFinder has an additional 65 Tennessee income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Tennessee FAE-Schd-Y.

Form Code Form Name
FAE-Schd-174SC Consolidated Apportionment Schedules
FAE-Schd-W Schedule W - Franchise and Excise Tax Day Care Credit Computation
FAE-Schd-X Schedule X - Franchise Tax Jobs Credit Computation
FAE-Schd-170NC Consolidated Apportionment Schedule
FAE-Schd-T Schedule T - Industrial Machinery Tax Credit

Download all TN tax forms View all 66 Tennessee Income Tax Forms


Form Sources:

Tennessee usually releases forms for the current tax year between January and April. We last updated Tennessee FAE-Schd-Y from the Department of Revenue in February 2024.

Show Sources >

FAE-Schd-Y is a Tennessee Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Tennessee FAE-Schd-Y

We have a total of eight past-year versions of FAE-Schd-Y in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 FAE-Schd-Y

Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004)

2022 FAE-Schd-Y

Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004)

2021 FAE-Schd-Y

Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004)

2020 FAE-Schd-Y

Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004)

2018 FAE-Schd-Y

Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004)

2016 FAE-Schd-Y

Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004)

2015 FAE-Schd-Y

Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004)

Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004) 2012 FAE-Schd-Y

Schedule Y - Low Income Housing Tax Credit (LIHTC) Schedule and Instructions (2004)


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