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Low-Income Housing Credit Line 15d. Other Rental Real Estate Credits (Code
F)
Section 42 provides a credit that can be claimed by owners of
low-income residential rental buildings. To qualify for this credit, the
partnership must file Form 8609, Low-Income Housing Credit Enter on line 15d any other credit (other than credits reported on
Allocation and Certification, separately with the IRS. Do not attach lines 15a through 15c) related to rental real estate activities. On the
Form 8609 to Form 1065. Complete and attach Form 8609-A, dotted line to the left of the entry space for line 15d, identify the type
Annual Statement for Low-Income Housing Credit, and Form 8586, of credit. If there is more than one type of credit, attach a statement
Low-Income Housing Credit, to Form 1065. to Form 1065 that identifies the type and amount for each credit.
These credits may include any type of credit listed in the instructions
Line 15a. Low-Income Housing Credit (Section for line 15f.
42(j)(5)) (Code C) Schedule K-1. Report in box 15 of Schedule K-1 each partner's
distributive share of other rental real estate credits using code F. If
Enter on line 15a the total low-income housing credit for property you are reporting each partner's distributive share of only one type of
rental real estate credit under code F, enter the code with an asterisk
which a partnership is to be treated under section 42(j)(5) as the (F*) and the dollar amount in the entry space in box 15 and attach a
taxpayer to which the low-income housing credit was allowed. statement that shows “Box 15, Code F” and type of credit. If you are
If the partnership invested in another partnership to which the reporting multiple types of rental real estate credits under code F,
enter the code with an asterisk (F*) and enter “STMT” in the entry
provisions of section 42(j)(5) apply, report on line 15a the credit space in box 15 and attach a statement that shows “Box 15, Code F”
reported to the partnership in box 15 of Schedule K-1 (Form 1065), and the types and dollar amounts of the credits. If the partnership
code C. has credits from more than one rental real estate activity, identify on
Schedule K-1. Report in box 15 of Schedule K-1 each partner's the attached statement the amount of each type of credit for each
distributive share of the low-income housing credit reported on separate activity. See Passive Activity Reporting Requirements,
line 15a of Schedule K. Use code C to report credits attributable to earlier.
buildings placed in service after 2007. If the partnership has credits
from more than one rental activity, identify on an attached statement Line 15e. Other Rental Credits (Code G)
to Schedule K-1 the amount for each separate activity. See Passive
Activity Reporting Requirements, earlier.
Enter on line 15e any other credit (other than credits reported on
Line 15b. Low-Income Housing Credit (Other) lines 15a through 15d) related to rental activities. On the dotted line
to the left of the entry space for line 15e, identify the type of credit. If
(Code D) there is more than one type of credit, attach a statement to Form
1065 that identifies the type and amount for each credit. These
Enter on line 15b any low-income housing credit not reported on credits may include any type of credit listed in the instructions for
line 15a. This includes any credit reported to the partnership in line 15f.
box 15 of Schedule K-1 using code D. Schedule K-1. Report in box 15 of Schedule K-1 each partner's
Schedule K-1. Report in box 15 of Schedule K-1 each partner's distributive share of other rental credits using code G. If you are
distributive share of the low-income housing credit reported on reporting each partner's distributive share of only one type of rental
line 15b of Schedule K. Use code D to report credits attributable to credit under code G, enter the code with an asterisk (G*) and the
buildings placed in service after 2007. If the partnership has credits dollar amount in the entry space in box 15 and attach a statement
from more than one rental activity, identify on an attached statement that shows “Box 15, Code G” and type of credit. If you are reporting
to Schedule K-1 the amount for each separate activity. See Passive multiple types of rental credits under code G, enter the code with an
Activity Reporting Requirements, earlier. asterisk (G*) and enter “STMT” in the entry space in box 15 and
attach a statement that shows “Box 15, Code G” and the types and
Line 15c. Qualified Rehabilitation Expenditures dollar amounts of the credits. If the partnership has credits from
more than one rental activity, identify on the attached statement the
(Rental Real Estate) (Code E) amount of each type of credit for each separate activity. See Passive
Activity Reporting Requirements, earlier.
Enter on line 15c the total qualified rehabilitation expenditures
related to rental real estate activities of the partnership. See the Line 15f. Other Credits
Instructions for Form 3468 for details on qualified rehabilitation
expenditures.
Schedule K-1. Report each partner's distributive share of qualified Enter on line 15f any other credit, except credits or expenditures
shown or listed for lines 15a through 15e. If any of these credits are
rehabilitation expenditures related to rental real estate activities in attributable to rental activities, enter the amount on line 15d or 15e.
box 15 of Schedule K-1 using code E. Attach a statement to On the dotted line to the left of the entry space for line 15f, identify
Schedule K-1 that provides the information and the partner's the type of credit. If there is more than one type of credit or if there
distributive share of the amounts the partner will need to complete are any credits subject to recapture, attach a statement to Form
lines 11b through 11g of Form 3468. See the Instructions for Form 1065 that separately identifies each type and amount of credit and
3468 for details. If the partnership has expenditures from more than credit recapture information for the following categories. The codes
one rental real estate activity, identify on an attached statement to needed for box 15 of Schedule K-1 are provided in the headings of
Schedule K-1 the amount for each separate activity. See Passive the following categories.
Activity Reporting Requirements, earlier.
Qualified rehabilitation expenditures for property not related Undistributed capital gains credit (code H). This credit
represents taxes paid on undistributed capital gains by a RIC or a
! to rental real estate activities must be reported in box 20 REIT. As a shareholder of a RIC or a REIT, the partnership will
CAUTION using code D. receive notice of the amount of tax paid on undistributed capital
gains on Form 2439, Notice to Shareholder of Undistributed
Long-Term Capital Gains.
Biofuel producer credit (code I). Complete Form 6478, if
applicable, to figure the credit. Attach it to Form 1065. Include any
amount shown on line 2 of Form 6478 in the partnership's income on

Instructions for Form 1065 (2022) -43-