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2010 LIH TC ATTACHMENT 20: CERTIFICATE REGARDING ELIGIBILITY FOR LOW INCOME HOUSING TAX CREDITS (date) Development Name: (the Development)Development Address: Development Owner: (the Development Owner)1.

How to fill out 2010 lihtc attachment 20

How to fill out 2010 lihtc attachment 20

1. To fill out the 2010 LIHTC Attachment 20, follow the steps below:
2. Start by providing your name, contact information, and the tax year in the designated spaces at the top of the form.
3. Review Part I of the form, which pertains to the Identification Information. Fill in all the required fields, including the project name, project ID number, building identification number, and the time period covered by the form.
4. Proceed to Part II, which focuses on the Basis Boost Information. Provide details about qualified basis boosts, such as the type of boost, the amount, and any supporting documentation.
5. Move on to Part III, which deals with the Statutory Tests. Provide information on each applicable statutory test, such as the rent and income test, population test, qualified census tract test, and difficult development area test. Fill in the necessary details and attach any required documentation.
6. Fill out the applicable sections in Part IV, which cover specific types of developments. This may include information on bond-financed developments, buildings with homebuyer units, and buildings with HUD assistance.
7. Complete Part V, which requires information on the annual housing credit allocation. Provide details about the building identification number, unit size, eligible basis, applicable fraction, and allocated credit amount.
8. Part VI focuses on the Recapture Reduction. If applicable, provide the necessary details regarding the recapture reduction, including the amount and any supporting documentation.
9. Lastly, review the completed form to ensure all required fields are filled in correctly and that any necessary documentation is included. Make sure to sign and date the form before submitting it.
10. Note: It is always recommended to consult a tax professional or refer to the instructions provided by the tax authority for specific guidance on filling out the 2010 LIHTC Attachment 20 form.

Who needs 2010 lihtc attachment 20?

1. Any individual or organization involved in Low-Income Housing Tax Credit (LIHTC) projects in the year 2010 may need to complete the 2010 LIHTC Attachment 20 form. This includes developers, investors, property owners, and management companies.
2. The attachment is used to provide detailed information on the project, including identification details, basis boost information, statutory tests, recapture reduction, and housing credit allocation. It is essential for ensuring compliance with LIHTC program requirements and for claiming tax credits related to low-income housing projects.
3. Furthermore, regulatory agencies, tax authorities, and auditors may also require the submission of this form for review and verification purposes. It is best to consult the relevant tax authority or a tax professional to determine if the 2010 LIHTC Attachment 20 form is required for a specific situation.

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What is lihtc attachment 20 certificate?

The LIHTC Attachment 20 certificate is a form that is used to certify compliance with certain requirements of the Low-Income Housing Tax Credit program.

Who is required to file lihtc attachment 20 certificate?

Owners of properties that receive Low-Income Housing Tax Credits are required to file the LIHTC Attachment 20 certificate.

How to fill out lihtc attachment 20 certificate?

The LIHTC Attachment 20 certificate must be filled out accurately and completely, including information about the property, the owner, and the compliance period.

What is the purpose of lihtc attachment 20 certificate?

The purpose of the LIHTC Attachment 20 certificate is to document compliance with the requirements of the Low-Income Housing Tax Credit program.

What information must be reported on lihtc attachment 20 certificate?

The LIHTC Attachment 20 certificate must include information about the property, the owner, the compliance period, and any applicable credits claimed.