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Idaho Credit for Employer Contributions to Employee Idaho College Savings Account and Instructions 2021
Form ID-529 is obsolete, and is no longer supported by the Idaho Department of Revenue.
Extracted from PDF file 2022-idaho-form-id-529.pdf, last modified September 2021Credit for Employer Contributions to Employee Idaho College Savings Account and Instructions 2021
Form ID-529 Credit for Employer Contributions to Employee Idaho College Savings Account Names as shown on return Social Security number or EIN Part I — Credit Available Subject to Limitation 1. Current year credit available from page 2 ............................................................................................... 1 2. Carryover from prior years ...................................................................................................................... 2 3. Credit distributed to shareholders, partners, or beneficiaries ................................................................. 3 4. Total credit available. Add lines 1 and 2, then subtract line 3 ................................................................. 4 Part II — Limitations 1. Enter the Idaho income tax from your return .......................................................................................... 1 2. Credit for income tax paid to other states ............................................................................................... 2 3. Credit for contributions to Idaho educational entities .............................................................................. 3 4. Investment tax credit from Form 49, Part II, line 8 .................................................................................. 4 5. Credit for contributions to Idaho youth and rehabilitation facilities .......................................................... 5 6. Credit for production equipment using post-consumer waste ................................................................. 6 7. Promoter-sponsored event credit ............................................................................................................ 7 8. Credit for Idaho research activities from Form 67, line 29 ....................................................................... 8 9. Broadband equipment investment credit from Form 68, line 18 ............................................................. 9 10. Small employer investment tax credit from Form 83, line 28 .................................................................. 10 11. Small employer real property improvement tax credit from Form 84, line 26 .......................................... 11 12. Small employer new jobs tax credit from Form 85, line 35 ...................................................................... 12 13. Credit for live organ donation expenses .................................................................................................. 13 14. Idaho child tax credit ................................................................................................................................ 14 15. Add Part II, lines 2 through 14 ................................................................................................................. 15 16. Tax available after other credits. Subtract Part II, line 15 from Part II, line 1 .......................................... 16 17. Total credit allowed on current year tax return. Enter the smaller amount from Part I, line 4 or Part II, line 16 here and on Form 44, Part I, line 9 .............................................................................. 17 Part III — Credit Carryover 1. Total credit available subject to limitations. Enter the amount from Part I, line 4 .................................... 1 2. Credit allowed. Enter the amount from Part II, line 17 ............................................................................. 2 3. Credit carryover to future years. Subtract Part III, line 2 from Part III, line 1. Enter the amount here and on Form 44, Part I, line 9 ............................................................................................ 3 EFO00327 09-07-2021 Page 1 of 2 Form ID-529 A Employee/account owner last name SSN or ITIN B Filing period (MM/DD/YYYY) Employee/account owner last name SSN or ITIN C Employee/account owner last name SSN or ITIN E SSN or ITIN F Employee/account owner last name SSN or ITIN G SSN or ITIN H Employee/account owner last name SSN or ITIN I SSN or ITIN J Employee/account owner last name SSN or ITIN K SSN or ITIN Amount of contribution Tax credit* Middle initial Amount of contribution Tax credit* Middle initial Amount of contribution Tax credit* Middle initial Amount of contribution Tax credit* Middle initial Amount of contribution Tax credit* Middle initial Amount of contribution First name Filing period (MM/DD/YYYY) Tax credit* Middle initial First name Filing period (MM/DD/YYYY) Employee/account owner last name Amount of contribution First name Filing period (MM/DD/YYYY) Tax credit* Middle initial First name Filing period (MM/DD/YYYY) Employee/account owner last name Amount of contribution First name Filing period (MM/DD/YYYY) Tax credit* Middle initial First name Filing period (MM/DD/YYYY) Employee/account owner last name Amount of contribution First name Filing period (MM/DD/YYYY) Tax credit* Middle initial First name Filing period (MM/DD/YYYY) Employee/account owner last name Amount of contribution First name Filing period (MM/DD/YYYY) Employee/account owner last name Middle initial First name Filing period (MM/DD/YYYY) SSN or ITIN D First name (continued) Tax credit* Middle initial Amount of contribution Tax credit* Total tax credits from sections A through K .............................................................................................. * (20% of the total contribution up to $500) EFO00327 09-07-2021 Page 2 of 2 Form ID-529 — Instructions Credit for Employer Contributions to Employee Idaho College Savings Account General Instructions An employer who contributes directly to an employee’s 529 qualified state tuition program account can claim a credit against the employer’s income taxes. The employer can claim a credit of 20% of the total contribution per employee up to a maximum of $500. The credit is nonrefundable but may be carried forward on the employer’s return for up to five years. Specific Instructions Instructions are for lines not fully explained on the form. Part I — Credit Available Subject to Limitation Line 2. Enter the carryover from prior years. See General Instructions for the carryover period allowed. Line 3. If you’re an S corporation, partnership, trust, or estate, enter the amount of credit that passed through to partners, shareholders, or beneficiaries. The following credits must be applied to the tax before the ID-529 credit: 1. Credit for income tax paid to other states 2. Credit for contributions to Idaho educational entities 3. Investment tax credit 4. Credit for contributions to Idaho youth and rehabilitation facilities 5. Credit for production equipment using post-consumer waste 6. Promoter-sponsored event credit 7. Credit for Idaho research activities 8. Broadband equipment investment credit 9. Small employer investment tax credit 10. Small employer real property improvement tax credit 11. Small employer new jobs tax credit 12. Credit for live organ donation expenses 13. Idaho child tax credit Part II — Limitations Line 1. Enter the amount of your Idaho income tax. This is the computed tax before adding the permanent building fund tax or any other taxes or subtracting any credits. The credit is limited to the Idaho income tax after allowing all other tax credits that may be claimed before it. Line 2. Enter the credit for income tax paid to other states from Form 39R or Form 39NR. This credit is available only to individuals, trusts, and estates. Part III — Credit Carryover Line 3. The amount of credit available that exceeds the total credit allowed on the current year tax return may be carried forward up to five tax years. Enter this amount on Form 44, Part I, line 9 in the Carryover column. Contact us: In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660 Hearing impaired (TDD) (800) 377-3529 tax.idaho.gov/contact EIN00103 09-07-2021
Form ID-529, Credit for Employer Contributions to Employee Idaho College Savings Account and Instructions
More about the Idaho Form ID-529 Individual Income Tax
We last updated the Credit for Employer Contributions to Employee Idaho College Savings Account and Instructions 2021 in October 2022, and the latest form we have available is for tax year 2022. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Idaho State Tax Commission. You can print other Idaho tax forms here.
Other Idaho Individual Income Tax Forms:
TaxFormFinder has an additional 65 Idaho income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| FORM 24 | Idaho Grocery Credit Refund |
| FORM 40 | Idaho Individual Income Tax Return |
| FORM ID-VP | Income Tax Payment Voucher |
| FORM 51 | Estimated Payment of Idaho Individual Income Tax |
| FORM 39R | Idaho Supplemental Schedule (Resident) |
View all 66 Idaho Income Tax Forms
Form Sources:
Idaho usually releases forms for the current tax year between January and April. We last updated Idaho Form ID-529 from the State Tax Commission in October 2022.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
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