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2005 1065 K-1 Line 15 code A and B

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Low-income housing credit. The partnership will report your share of the low-income housing credit using code A if section 42(j)(5) applies. If section 42(j)(5) does not apply, your share of the credit will be reported using code B. Any allowable low-income housing credit (reported as code A or code B) is entered on line 4 of Form 8586, Low-Income Housing Credit.

Keep a separate record of the amount of low-income housing credit from each of these sources so that you can correctly compute any recapture of low-income housing credit that may result from the disposition of all or part of your partnership interest. For more information, see the instructions for Form 8611, Recapture of Low-Income Housing Credit.

If part or all of the low-income housing credit reported using code A or B is attributable to additions to qualified basis property placed in service before 1990, the partnership will provide an attached statement that will separately identify these amounts. Amounts placed in service before 1990 are subject to different passive activity limitation rules. See Passive Activity Limitations on page 3 and Form 8582-CR for more information.

2005 1065 K-1 instructions

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