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North Dakota Free Printable Schedule ND-1QEC - Qualified Endowment Fund Tax Credit (2023) for 2024 North Dakota Qualified Endowment Fund Tax Credit

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Qualified Endowment Fund Tax Credit
Schedule ND-1QEC - Qualified Endowment Fund Tax Credit (2023)

QUALIFIED ENDOWMENT FUND TAX CREDIT OFFICE OF STATE TAX COMMISSIONER Schedule ND-1QEC SFN 28708 (12-2023) 2023 Attach to Form ND-1 Taxpayer's Name As Shown On Return  Your Social Security Number If you are only carrying over an unused credit from 2020, 2021, or 2022, skip lines 1 through 5, and go to line 6. Qualified endowment fund information 1. Enter the name, address, and the total amount contributed for each qualified endowment fund to which you contributed at least $5,000 during the 2023 tax year.  Attach a letter or other documentation obtained from the qualified nonprofit organization holding the qualified endowment fund that states it and the fund meet the requirements under N.D.C.C. § 57-38-01.21. (a) Name of qualified endowment fund (b) Address (number, street, city, state, ZIP code) (c) Border state organization (d) Total amount contributed Calculation of credit 2. Total amount contributed. Add the amounts in column (d) of line 1 2 3. If married filing jointly, enter $50,000; otherwise, enter $25,000 3 4. Amount of contribution eligible for credit. Enter smaller of line 2 or line 3 4 5. 2023 credit. Multiply line 4 by 40% (.40) 5 6. Unused credit carryover, if any, from prior tax year(s) 6 7. Total available credit. Add lines 5 and 6 7 8. Amount of line 7 used to reduce tax in 2023. See instructions. Enter this amount on Schedule ND-1TC, line 15a 8 9. Unused credit carryover to 2024 tax year 9 Adjustment to North Dakota taxable income  If there's an amount on line 5 of this schedule and you are also claiming a planned gift credit on Schedule ND-1PG, line 7, or an endowment fund credit from a North Dakota Schedule K-1, do not complete lines 10 through 16 below; instead, see the instructions to Form ND-1, line 4. 10. For federal tax purposes, did you complete and attach Schedule A to your 2023 Form 1040 or 1040-SR? If yes, enter the portion of the contribution (on line 2 of this Schedule ND-1QEC) that you were allowed to deduct on Schedule A. If no, skip lines 10 through 12 and go to line 13 11. a. Enter the amount from Schedule A (Form 1040 or 1040-SR), line 17 10 11a b. Enter the federal standard deduction that you would have been allowed on your 2023 Form 1040 or 1040-SR, line 12, had you not itemized deductions on Schedule A (Form 1040 or 1040-SR) - see instructions 11b c. Subtract line 11b from line 11a. If result is less than zero, enter 0 11c 12. Enter smaller of line 4, line 10, or line 11c 12 13. If line 2 includes an amount transferred from an IRA under I.R.C. § 408(d)(8), enter that amount on this line - see instructions. Otherwise, enter -0- on line 15 and go to line 16 13 14. Subtract line 12 from line 4 14 15. Enter smaller of line 13 or line 14 15 16. Adjustment amount. Add lines 12 and 15. Enter this amount on Form ND-1, line 2 16 023 Schedule ND-1QEC 2 SFN 28708 (12-2023), Page 2 General instructions An individual is allowed an income tax credit for making one or more charitable contributions totaling at least $5,000 to a qualified endowment fund. If the entire credit cannot be used on the 2023 return, the unused portion may be carried over and used on subsequent tax years’ returns for up to three years. Qualified endowment fund. A qualified endowment fund means a permanent, irrevocable fund that meets all of the following: 1. It is held by a qualified nonprofit organization (defined below) or by a bank or trust company on behalf of a qualified nonprofit organization. 2. It is comprised of cash, securities, mutual funds, or other investment assets. 3. It is established for a specific religious, educational, or other charitable purpose. 4. It may expend only the income generated by, or the increase in value of, the assets contributed to it. Qualified nonprofit organization. A qualified nonprofit organization means an organization that meets either of the following sets of criteria:  North Dakota-based organization. An organization is a qualified nonprofit organization if it: 1. Is incorporated in North Dakota, or has an established location in North Dakota; 2. Is tax-exempt under I.R.C. § 501(c); and 3. Is a charitable donee organization as defined under I.R.C. § 170.  Border state organization. An organization is a qualified nonprofit organization if it: 1. Is tax-exempt under I.R.C. § 501(c); 2. Is a charitable donee organization as defined under I.R.C. § 170; 3. Supports or benefits a hospital, nursing home, or medical center, or any combination of these; 4. Is located outside North Dakota; and 5. Is located within five miles of a North Dakota city with a population of 5,000 or more that does not have a hospital. is less than $5,000. Only enter the information for Qualified Endowment Fund A on Schedule ND-1QEC. Specific line instructions Example 4—A taxpayer makes a charitable contribution of $500 at the beginning of each month to Qualified Endowment Fund A for a total contribution of $6,000 for the tax year. Because the total amount contributed to Qualified Endowment Fund A is at least $5,000, the tax credit is allowed on the entire $6,000. Enter the information for Qualified Endowment Fund A on Schedule ND-1QEC. Line 1 Line 6 No double benefit. A charitable contribution that is the basis for this credit may not be used as the basis for any other tax credit allowed for North Dakota income tax purposes. In columns a and b, enter the name and address of each qualified endowment fund to which you made one or more charitable contributions totaling at least $5,000 during the 2023 tax year. See below for examples of the application of the $5,000 minimum contribution requirement. In column c, fill in the circle if the qualified endowment fund is held by a border state organization - see “Border state organization” under “Qualified nonprofit organization.” In column d, enter the total amount contributed to the qualified endowment fund. Example 1—A taxpayer makes one or more charitable contributions totaling $4,000 to Qualified Endowment Fund A. Because the total amount contributed is less than $5,000, none of it qualifies for the credit. Do not enter any information for Qualified Endowment Fund A on Schedule ND‑1QEC. Example 2—A taxpayer makes one or more charitable contributions totaling $4,000 to Qualified Endowment Fund A and one or more charitable contributions totaling $1,000 to Qualified Endowment Fund B. Because the total amount contributed to each fund is less than $5,000, none of the contributions qualify for the credit. Do not enter any information for either of the funds on Schedule ND-1QEC. Example 3—A taxpayer makes one or more charitable contributions totaling $5,000 to Qualified Endowment Fund A and one or more charitable contributions totaling $1,000 to Qualified Endowment Fund B. Only the $5,000 contributed to Qualified Endowment Fund A qualifies for the credit. The $1,000 contributed to Qualified Endowment Fund B does not qualify for the credit because it Enter the allowable portion of an unused qualified endowment fund credit, if any, based on contributions made in the 2020 through 2022 tax years. Line 8 Enter on this line only that portion of the total available credit on line 7 that is used to reduce the tax on the 2023 return. For example, if the available credit on line 7 is $1,000, but only $400 is needed to reduce the tax to zero, enter $400 on line 8. Line 9 Enter the portion of an unused endowment fund tax credit, if any, based on qualified contributions made in the 2021 through 2023 tax years that is being carried over to the 2024 tax year. Line 11b To determine the amount of the federal standard deduction to enter on this line, see the instructions to the 2023 Form 1040 or 1040-SR, line 12. Line 13 If the amount on line 2 includes a charitable contribution made to a qualified endowment fund by means of a trustee-to-donee transfer of monies from an individual retirement account (IRA) under Internal Revenue Code section 408(d), enter that amount on this line. A charitable contribution made in this manner reduces federal taxable income because the transferred monies, which would be subject to federal income tax had they not been contributed, are excluded from federal taxable income. To the extent these monies are the basis for the qualified endowment fund tax credit, they must be added back into North Dakota taxable income.
Extracted from PDF file 2023-north-dakota-schedule-nd-1qec.pdf, last modified August 2023

More about the North Dakota Schedule ND-1QEC Individual Income Tax Tax Credit TY 2023

We last updated the Qualified Endowment Fund Tax Credit in February 2024, so this is the latest version of Schedule ND-1QEC, fully updated for tax year 2023. You can download or print current or past-year PDFs of Schedule ND-1QEC directly from TaxFormFinder. You can print other North Dakota tax forms here.

Related North Dakota Individual Income Tax Forms:

TaxFormFinder has an additional 44 North Dakota income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the North Dakota Schedule ND-1QEC.

Form Code Form Name
Schedule ND-1NR Nonresident and Part-Year Resident Schedule
Schedule ND-1PSC Nonprofit Private School Tax Credits for Individuals
Schedule ND-1CR Credit for Income Tax Paid to Another State
Schedule ND-1TC Tax Credits
Schedule ND1-PG Planned Gift Tax Credit
Schedule ND-1CS Calculation of Tax on Proceeds from Sale of Income Tax Credit
Schedule ND-1FA 3-Year Averaging Method for Elected Farm Income
Schedule ND-1FC Family Member Care Credit
Schedule ND-1PG Planned Gift Tax Credit
Schedule ND-1S [OBSOLETE] Allocation of Income by Same-Sex Individuals Filing A Joint Federal Return

Download all ND tax forms View all 45 North Dakota Income Tax Forms


Form Sources:

North Dakota usually releases forms for the current tax year between January and April. We last updated North Dakota Schedule ND-1QEC from the Office of State Tax Commissioner in February 2024.

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Schedule ND-1QEC is a North Dakota Individual 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 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 North Dakota Schedule ND-1QEC

We have a total of twelve past-year versions of Schedule ND-1QEC in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Schedule ND-1QEC

Schedule ND-1QEC - Qualified Endowment Fund Tax Credit (2023)

2022 Schedule ND-1QEC

Schedule ND-1QEC - Qualfied Endowment Fund Tax Credit 2022

2021 Schedule ND-1QEC

Schedule ND-1QEC 2021

2020 Schedule ND-1QEC

Schedule ND-1QEC - Qualified Endowment Fund Tax Credit

2019 Schedule ND-1QEC

Schedule ND-1QEC Qualififed Endowment Fund Tax Credit (2019)

2018 Schedule ND-1QEC

Schedule ND-1QEC - Qualified Endowment Fund Tax Credit

2017 Schedule ND-1QEC

Schedule ND-1QEC - Qualified Endowment Fund Tax Credit

2016 Schedule ND-1QEC

Schedule ND-1QEC - Qualified Endowment Fund Tax Credit

2015 Schedule ND-1QEC

Schedule ND-1QEC - Qualified Endowment Fund Tax Credit

Qualified Endowment Fund Tax Credit 2013 Schedule ND-1QEC

ND-1QEC (2013) (46385 - Draft, VersiForm)

Schedule ND-1QEC - Qualified Endowment Fund Tax Credit 2012 Schedule ND-1QEC

Schedule ND-1QEC - Qualified Endowment Fund Tax Credit

Schedule ND-1QEC 2011 Schedule ND-1QEC

Schedule ND-1QEC


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