Wisconsin Wisconsin Supplement to the Federal Historic Rehabilitation Tax Credit – Five-Year Credit Claim

Wisconsin Supplement to the Federal Historic Rehabilitation Tax Credit – Five-Year Credit Claim
November 2024 IC-534 Wisconsin Supplement to the Federal Historic Rehabiliation Tax Credit - Five-Year Credit Claim
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Schedule
Wisconsin

HR-5

Wisconsin Department
of Revenue

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Supplement to the Federal Historic
Rehabilitation Tax Credit – Five-Year Credit Claim

Clear

2024

File with Wisconsin Form HR-T

A. Claimant Information
1. Name

2. FEIN or SSN

XX - XXX 3. Address

Suite Number

4. City

State

5. Email

Phone Number

6. Check if the credit is being transferred by a single owner of a disregarded entity:

Zip Code

7. Disregarded entity FEIN

XX - XXX -

8. Check if you want to allow the contact person listed below to discuss information about this form with the department:  
9. Contact Person (May need Power of Attorney. See Instructions)

Email

B. Rehabilitated Property
1. Name of the Property
2. Address of the Rehabilitated Property

3. City

State

Zip Code

C. Credit Information
	

1	

.00

Total credit being claimed (add lines 3k or 3o, 4j, 5e and 6)  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	1	

			

Fiduciaries Only:

			
	 	

a	 Prorate the credit from line 1 between the entity and its beneficiaries in proportion to the
	 income allocable to each. Enter the beneficiary’s portion  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	1a

.00

			

b	 Subtract line 1a from line 1. This is the estate’s or trust’s portion of the credit . . . . . . . . . . . . 	1b

.00

		
2	 The credit being claimed is the total of the following: Check all that apply
			
	 	

a	 The credit was calculated from rehabilitation expenditures incurred by the claimant as
	 owner of the historic property. If this box is checked, line 3 is completed  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	2a

			
	 	

b	 The credit was allocated to the claimant as owner of a pass-through entity.  
	 If this box is checked line 4 is completed  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	2b

			
	 	

c	 The claimant received the credit as a transferee in a credit transfer approved by the
	 Department of Revenue. If this box is checked line 5 is completed  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	2c

	3	

Claimant is Owner of the Rehabilitated Property

			

For credits claimed for the first time on this form:

			

a	 Enter the WEDC Contract number associated with this credit  .  .  . 3a

			

b	 Enter adjusted basis in the historic property prior to incurring QREs  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3b

			

c	 The credit is calculated in the year the expenditures are paid  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3c

			

d	 The credit is calculated in the year the rehabilitation property is placed in service .  .  .  .  .  .  .  .  .  . 	3d

			

e	 Enter the adjusted basis at the beginning of the measuring period (see the instructions)  .  .  .  . 	3e

			

f	

			

g	 Enter the date on which the 24- or 60-month measuring period ends  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3g

Enter the date on which the 24- or 60-month measuring period begins .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3f

IC-534 (R. 11-24)

-1-

.00

.00
M

M

D

D

Y

Y

Y

Y

M

M

D

D

Y

Y

Y

Y

Schedule HR-5
	3	

2024

Claimant is Owner of the Rehabilitated Property (Cont.)

		 h	 Enter the total qualifying expenditures incurred on the project to date .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3h

.00

		 i	 Enter the qualified rehabilitation expenditures on which the credit is computed for the
			 current taxable year .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3i

.00

		 j	 Enter 20% of the amount on line 3i rounded to nearest dollar. This is the total credit
			 required to be claimed over 5 years beginning in this year .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3j

.00

		 k	 Enter the amount from line 3(j) being claimed and transferred .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3k

.00

		
i. 	 Credit available in 2024 (Multiply line 3k by 20%)  .  .  .  .  .  .  .  .  .  . 	

.00

		ii.	
Credit available in 2025 (Multiply line 3k by 20%)  .  .  .  .  .  .  .  .  .  . 	

.00

		

iii. 	 Credit available in 2026 (Multiply line 3k by 20%)  .  .  .  .  .  .  .  .  .  . 	

.00

		

iv. 	 Credit available in 2027 (Multiply line 3k by 20%)  .  .  .  .  .  .  .  .  .  . 	

.00

		

v. 	 Credit available in 2028 (Multiply line 3k by 20%)  .  .  .  .  .  .  .  .  .  . 	

.00

		 For credits claimed on a Schedule HR in a previous year but not transferred until the current year:
		 l	

Enter the WEDC Contract number associated with this credit 	 3l

		 m	

Enter the total credit amount required to be spread over 5 years  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3m

		 n	

Enter the first tax year the credit was reported on Schedule HR .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3n

		 o	

Enter the amount from line 3(m) being claimed and transferred in the current year .  .  .  .  .  .  . 	3o

.00

		 p	 Total credit claimed as a property owner (add lines 3(k) and 3(o))  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	3p

.00

	4	

.00
M

M

D

D

Y

Y

Y

Y

Historic Rehabilitation Credit Calculated using QREs Allocated from a Pass-through Entity

		 a	

Enter the WEDC contract number associated with this credit 	 4a

		 b	

Entity Name	

		 c	

The credit is calculated in the year the rehabilitation property is placed in service .  .  .  .  .  .  .  . 	4c

		 d	

The credit is calculated in the year the expenditures are paid .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	4d	

		 e	

The first tax year-end the claimant received an allocation .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	4e

		 f	

The last tax year-end the claimant received an allocation .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	4f

		 g	

The total credit allocated to the claimant .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	4g

.00

		 h	

Enter the amount of the credit from line 4(g) previously claimed .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	4h

.00

		 i	

Subtract 4(h) from 4(g), this is the amount of the credit not yet claimed .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	4i

.00

		 j	

Enter the amount from line 4(i) being claimed because it is being transferred  .  .  .  .  .  .  .  .  .  .  . 	4j

.00

	5	

			

M

D

D

Y

Y

Y

M

M

D

D

Y

Y

Y

Y
Y

Transferor Name
Wisconsin Tax Account #		

		 b	

Total received in previous transfer .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	$

	

Year previous transfer received

	

M

Historic Rehabilitation Credit Received in a Previous Transfer

		 a	
	

FEIN

		

		 c	

Enter the date on the Notice of Certification issued for the previous transfer .  .  .  .  .  .  .  .  .  .  .  . 	5c

		 d	

Previously received transfer required to be claimed over 5 years .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 	5d	

.00

		 e	

Amount of previously received credit being transferred in the current year .  .  .  .  .  .  .  .  .  .  .  .  .  . 	5e

.00

	6	

Total credits from other Schedules HR-5  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	6

IC-534 (R. 11-24)

-2-

M

M

D

D

Y

Y

Y

Y

.00