Wisconsin Wisconsin Historic Rehabilitation Credits

Wisconsin Historic Rehabilitation Credits
2023 IC-034 Schedule HR Wisconsin Historic Rehabilitation Credits (fillable)
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Schedule

HR

Wisconsin Department
of Revenue

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Wisconsin Historic Rehabilitation Credits

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2023

File with Wisconsin Form 1, 1NPR, 2, 3, 4, 4T, 5S, or 6

Identifying Number

Name	
Address of Rehabilitated Property	

Zip Code

State

City

Part I	 Supplement to the Federal Historic Rehabilitation Tax Credit
1	 Enter adjusted basis in the building on the first day of the rehabilitation period. . . . . . . . . . . . .  	

1

.00

2	 Check the box to indicate the election chosen (Note: You must claim the credit at the same time
as for federal purposes, unless the credit is transferred from another taxpayer):
a	 This credit is claimed based on when the rehabilitation work was completed . . . . . . . . . . . .  	

2a

b	 This credit is claimed based on when the expenditures are paid. . . . . . . . . . . . . . . . . . . . . .  	

2b

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

2c

d	 Enter the date on which the 24- or 60-month measuring period ends. . . . . . . . . . . . . . . . . .  	
e	 Enter the total qualifying expenditures incurred on the project to date . . . . . . . . . . . . . . . . .  	

M

M

D

D

Y

Y

Y

Y

M

M

D

D

Y

Y

Y

Y

2d
2e

.00

f	 Enter the qualified rehabilitation expenditures on which the credit is computed for the current
taxable year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 2f

.00

3	 Enter 20% of the amount on line 2f, round to the nearest dollar. Include WEDC certification.  	

3

.00

4	 Enter 20% of the amount on line 3; if the transition rule applies, enter the amount from line 3 .  	

4

.00

5d	 Total credits (add lines 5a through 5c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	

5d

.00

6	 Fill in the amount of credit transferred from other taxpayers in 2023. . . . . . . . . . . . . . . . . . . . .  	

6

.00

7	 Add lines 4, 5d, and 6. This is your 2023 credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	

7

.00

5	 Historic rehabilitation credit passed through from other entities:
5a	 Entity Name
Amount 5a

.00

Amount 5b

.00

5c	 Total pass through credits from additional schedule. 	5c

.00

		

FEIN	

5b	 Entity Name
		

FEIN	

7a	 Fiduciaries - enter the amount of credit allocated to beneficiaries . . . . . . . . . . . . . . . . . . . . . . .  	7a

.00

7b	 Fiduciaries - subtract line 7a from line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	7b

.00

8	 Carryover of unused supplement to the federal historic rehabilitation tax credit. Include
Schedule CF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	

8

.00

	 9	 Add lines 7 and 8 (lines 7b and 8 if fiduciary). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	

9

.00

10	 Fill in the amount of credit transferred to other taxpayers in 2023. . . . . . . . . . . . . . . . . . . . . . .  	 10

.00

11	 Subtract line 10 from line 9. This is the available supplement to the federal historic rehabilitation
tax credit. Include Schedule CF if the credit was not used in full . . . . . . . . . . . . . . . . . . . . . . .  	 11

.00

Go to Page 2
IC-034 (R. 8-23)

2023 Schedule HR	

Name

ID Number

Page 2 of 2

Part II	 State Historic Rehabilitation Credit – Individuals Only
	12	 Check the box to indicate the election chosen:
		a	 This credit is claimed based on when the rehabilitation work was completed . . . . . . . . . . . . 	 12a
		b	 This credit is claimed based on when the costs are paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 12b
		c	 Enter the total qualifying costs incurred on the project to date  . . . . . . . . . . . . . . . . . . . . . . . 	 12c

.00

	 3	 Enter qualified preservation costs on which the credit is computed for each project below,
1
	 	 but do not enter more than $40,000 per project ($20,000 if married filing separate)
		a	 Project 1. Include WHS certification - see instructions . . .  	 13a

.00

		b	 Project 2. Include WHS certification - see instructions . . .  	 13b

.00

		c	 Project 3. Include WHS certification - see instructions . . .  	 13c

.00

		d	 Project 4. Include WHS certification - see instructions . . .  	 13d

.00

		e	 Project 5. Include WHS certification - see instructions . . .  	 13e

.00

		f	 Project 6. Include WHS certification - see instructions . . .  	 13f

.00

		g	 Total (add lines 13a through 13f) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 13g

.00

	14	 Enter 25% of the amount on line 13g . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 14

.00

	15	 Carryover of unused state historic rehabilitation credit. Include Schedule CF  . . . . . . . . . . . . .  	 15

.00

	16	 Add lines 14 and 15. This is the available state historic rehabilitation credit. Include
		Schedule CF if the credit was not fully used . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  	 16

.00

Part III	 Transfer of Supplement to the Federal Historic Rehabilitation Tax Credit
	 1	 Complete the following information regarding the transfer in 2023 of the supplement to the federal historic
		

rehabilitation tax credit.

	 1a	 Person Eligible to Claim the Supplement to the Federal Historic Rehabilitation Tax Credit:
Last Name

First Name

M.I.

Business Name

Identifying Number

Number and Street
City

State

Zip Code

	 1b	 Recipient of Transferred Supplement to the Federal Historic Rehabilitation Tax Credit:
Last Name

First Name

M.I.

Business Name

Identifying Number

Number and Street
City

State

Zip Code

	 1c	 Transferred Amount  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 	 1c

.00

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