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Massachusetts Free Printable sch. H-2 for 2020 Massachusetts Recapture Offset (OBSOLETE)

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Recapture Offset (OBSOLETE)
sch. H-2

CORPORATION NAME FEDERAL IDENTIFICATION NUMBER Schedule H-2 Credit Recapture 2014 Complete this schedule if the taxpayer has Brownfields, Low-Income Housing, Historic Rehabilitation, Economic Opportunity Area, Vanpool or Life Science tax credit to recapture. Complete one Schedule H-2 for each type of credit being recaptured. Type of credit being recaptured. Fill in applicable oval: Brownfields Low-Income Housing Historic Rehabilitation Fill in if completing additional Schedules H-2 Economic Opportunity Area Vanpool Life Science RECAPTURE CALCULATION 1 Amount of original credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Month and year property was placed in service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Total months of useful life . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Month and year property was disposed of or ceased to be in qualified use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Number of months property was in qualified use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Adjusted credit percentage. Divide line 5 by line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Recapture percentage. Subtract line 6 from 1.0. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 8 Tentative recapture tax. Multiply line 7 by line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Portion of original credit not used to offset any tax. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 10 Credit to be recaptured. Subtract line 9 from line 8. Do not enter less than “0”. Enter here and on Form 355, line 4; Form 355S, line 7; Form 1, line 25; Form 1-NR/PY, line 29 or on other appropriate tax form. . . . . . . . 10 INSTRUCTIONS If property is disposed of or ceases to be in qualified use prior to the end of its useful life, the difference between the Brownfields Credit, Historic Rehabilitation Credit, Low-Income Housing Credit, Economic Opportunity Area Credit, Vanpool Credit or Life Science Credit taken and the credit allowed for actual use must be added back in the excise calculation. The recapture amount is additional tax in the year the property is disposed of. The amount of the credit allowed for actual use equals the amount of the original credit multiplied by the months of actual use divided by the total months of useful life. If the taxpayer’s records show that a portion or all of the original credit was never used to offset tax, the recapture tax may be reduced by the unused amount. To substantiate any amount in line 9, taxpayers should complete the Schedule H-2 Worksheet (Recapture Offset Worksheet) or use their own schedule, provided it performs the same calculations as the worksheet. The worksheet is available by visiting the DOR’s website at www.mass.gov/dor. For further information refer to DOR Directive 89-7.
Extracted from PDF file 2019-massachusetts-schedule-h-2.pdf, last modified December 2014

More about the Massachusetts Schedule H-2 Corporate Income Tax TY 2019

*Obsolete

We last updated the Recapture Offset (OBSOLETE) in April 2020, so this is the latest version of Schedule H-2, fully updated for tax year 2019. You can download or print current or past-year PDFs of Schedule H-2 directly from TaxFormFinder. You can print other Massachusetts tax forms here.

Related Massachusetts Corporate Income Tax Forms:

TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Massachusetts Schedule H-2.

Form Code Form Name
Schedule HC Health Care Information
Schedule HC-CS Health Care Information Continuation Sheet
Schedule H Expenses and Fiduciary Compensation
Schedule H Corp Investment Tax Credit and Carryovers
Schedule HM Harbor Maintenance Credit

Download all MA tax forms View all 127 Massachusetts Income Tax Forms


Form Sources:

Massachusetts usually releases forms for the current tax year between January and April. We last updated Massachusetts Schedule H-2 from the Department of Revenue in April 2020.

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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 Massachusetts Schedule H-2

We have a total of eight past-year versions of Schedule H-2 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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