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Massachusetts Credit Recapture Schedule
Extracted from PDF file 2023-massachusetts-schedule-crs.pdf, last modified February 2023Credit Recapture Schedule
Massachusetts Department of Revenue Schedule CRS Credit Recapture Schedule For calendar year 2023 or taxable year beginning Name of taxpayer 2023 and ending Identification number Instructions Certain Massachusetts tax credits are subject to recapture as specified in the statute authorizing the credit (e.g. investment tax is subject to recapture under MGL ch 63, § 31A(e) if an asset for which the credit was taken is disposed of before the end of its useful life). If a recapture calculation is required, the amount of the credit allowed is redetermined and the reduction in the amount of credit allowable is recaptured to the extent the credit was taken or used in a prior year. See DOR Directive 89-7. Taxpayers who have a recapture calculation must complete this schedule whether or not a recapture tax is determined to be due. List each credit for which a recapture calculation must be made. For credits tracked by certificate numbers that must be reported on the return to claim the credit, enter each certificate number and the associated credits separately. For credits not tracked by certificate number, enter credits separately by type and the year to which they relate. List only those credits and certificate numbers or tax years for which a reduction in the credit is being calculated. For each credit, show both the original amount of the credit and the revised amount; the difference between these is the reduction in the credit or tentative recapture. For the investment tax credit (and similar credits) where recapture is being required for some but not all of the assets placed in service during a given year, the total shown for the original credit and revised credit amounts should be the amounts for the assets subject to recapture. If any of the credit associated with the certificate number and/or tax year (as applicable) was never used, subtract that amount from the tentative recapture and any portion of the reduction in credit that is not offset is added to the return as recapture tax. Reduce any available credit carryover by the amount used to offset tentative recapture. Credit recaptures 1 List any credit for which recapture is taking place. Credit type Period end date (mm/dd/yyyy) Certificate number Original amount Revised amount Credit never used Addition to excise
Schedule CRS
More about the Massachusetts Schedule CRS Individual Income Tax TY 2023
We last updated the Credit Recapture Schedule in January 2024, so this is the latest version of Schedule CRS, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule CRS directly from TaxFormFinder. You can print other Massachusetts tax forms here.
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TaxFormFinder has an additional 126 Massachusetts income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| Form 1 | Resident Income Tax Return |
| Form 1-NR/PY | Nonresident or Part-Year Resident Income Tax Return |
| Form 1-ES Instructions | Estimated Income Tax Forms & Instructions |
| Form M-4868 | Application for Automatic Six-Month Extension of Time to File Massachusetts Income Tax Return |
| Form 1 Instructions | Individual Income Tax Instructions |
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 CRS from the Department of Revenue in January 2024.
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!
Historical Past-Year Versions of Massachusetts Schedule CRS
We have a total of three past-year versions of Schedule CRS 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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