Federal Recapture of Investment Credit

Recapture of Investment Credit
Form 4255 (Rev. December 2023)Form

4255

(Rev. December 2023)
Department of the Treasury
Internal Revenue Service
Name(s) as shown on return

Recapture of Investment Credit

OMB No. 1545-0166

Attach to your tax return.
Go to www.irs.gov/Form4255 for instructions and the latest information.

Attachment
Sequence No.

172

Identifying number

Properties Type of property—State whether rehabilitation, energy, qualifying advanced coal project, qualifying gasification project, qualifying

advanced energy project, or advanced manufacturing investment property. (See the Instructions for Form 3468 for the year the
investment credit property was placed in service for definitions.) If rehabilitation property, also show type of building. If energy property,
show type.

A
B
C
D

Part I

Original Investment Credit

These columns relate to the properties A
through D described above . . . . . . .
1 Original rate of credit
. . . . . . . . .
2 Credit base as of the end of the previous tax year
(see instructions) . . . . . . . . . . .
3 Net change in nonqualified nonrecourse financing
during the tax year. If a net decrease, enter as a
negative number . . . . . . . . . . .
4 Credit base as of the end of the current tax year.
Subtract line 3 from line 2 . . . . . . . .
5 Refigured credit (see instructions) . . . . .
6 Credit taken for this property on Form 3800 in
prior years. See instructions . . . . . . .

Part II

Properties
B

C

D

1
2

3
4
5
6

Recapture From Increase in Nonqualified Nonrecourse Financing (see instructions)

7 Credit subject to recapture due to a net increase in
nonqualified nonrecourse financing. Subtract line 5
from line 6. If zero or less, enter -0- . . . . .
8 Unused general business credits that would have
been allowed if original credit had been figured with
current-year credit base (see instructions) . . .
9 Subtract line 8 from line 7. This is the recapture tax
as a result of a net increase in nonqualified
nonrecourse financing . . . . . . . . .

Part III

A

7

8

9

Recapture From Disposition of Property or Cessation of Use as Investment Credit Property

10 Date property was placed in service . . . . .
11 Date property ceased to be qualified investment
credit property . . . . . . . . . . . .
12 Number of full years between the date on line 10
and the date on line 11 . . . . . . . . .

10
11
12

13 Unused general business credits that would have
been allowed had there been no credit from this
property (see instructions) . . . . . . . .
13
14 Subtract line 13 from line 6 . . . . . . . .
14
15 Recapture percentage (see instructions) . . .
15
16 Multiply line 14 by the percentage on line 15 . .
16
17 Add property columns A through D, line 9 . . . . . . . . . . . . . . . . . . .
18 Add property columns A through D, line 16 . . . . . . . . . . . . . . . . . .
19 Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . .
20 Total increase in tax. Add lines 17 and 18. Enter here and on the appropriate line of your tax return
For Paperwork Reduction Act Notice, see separate instructions.

Cat. No. 41488C

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Form 4255 (Rev. 12-2023)

Extracted from PDF file 2023-federal-form-4255.pdf, last modified December 2023

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More about the Federal Form 4255 Corporate Income Tax TY 2023

We last updated the Recapture of Investment Credit in January 2024, so this is the latest version of Form 4255, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 4255 directly from TaxFormFinder. You can print other Federal tax forms here.

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The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 4255 from the Internal Revenue Service in January 2024.

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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 Federal Form 4255

We have a total of eleven past-year versions of Form 4255 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 Form 4255

Form 4255 (Rev. December 2023)

2022 Form 4255