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ClearPrintCredit for Affordable Housing Worksheet for Tax Year 2023 36 M.R.S. 5219WW Enclose with Form 1040ME, Form 1041ME, Form 1120ME, or Form INS4. Note: A separate worksheet must be completed
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Low-income individuals or families in need of affordable housing options.
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The affordable housing credit worksheet is a form used to calculate the amount of low-income housing tax credit that can be claimed by developers or owners of affordable housing projects.
Developers and owners of low-income housing properties that wish to claim the low-income housing tax credit must file the affordable housing credit worksheet.
To fill out the affordable housing credit worksheet, you need to gather necessary information about the property, the number of eligible units, income limits, and calculate the credit based on the applicable percentage.
The purpose of the affordable housing credit worksheet is to ensure accurate calculation and reporting of the low-income housing tax credit to facilitate affordable housing development.
The worksheet requires reporting information such as the number of qualified units, the total eligible basis, the applicable fraction, and income limits for tenants.
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