CT – Schedule IT: Income Tax Credit Summary | 1040.com® 

Article: 50641

General Information 

The Schedule IT – Income Tax Credit Summary screen is used to complete Connecticut Schedule IT, which summarizes available income tax credits. The schedule is divided into three parts.

How to Access 

1. Click on the State Taxes section on the left-hand side of the screen. 
2. Click the link I’d like to see the forms I’ve filled out or search for a form.
3. Click on the drop-down menu for Connecticut. 
4. Click on the Credits tab. 
5. Click on Schedule IT – Income Tax Credit Summary to add and open the form. 

Part I – Tax Credits Applied to Tax Liability 

Enter credit amounts earned and applied for the tax year. Each line corresponds to a specific Connecticut credit program.  
For each applicable credit, enter: 

• the amount of credit earned in the tax year in Column C. 

• the portion of the credit applied to the tax liability in Column D.

The following credits are supported: 

• Youth Development Organization Tax Credit 
• ABLE Account Credit 
• Birth of a Stillborn Child Tax Credit 
• Insurance Reinvestment Fund Tax Credit   
• Column B also allows carryforward amounts from previous years 
• Angel Investor Tax Credit   
• Column B allows carryforward amounts 
• Real Estate Conveyance Tax Credit   
• Includes Column B for carryforward 
• Accredited Theater Production Tax Credit 
• Prior Year Connecticut Minimum Tax Credit 

Part II – Tax Credits Reported by Pass-Through Entity 

This section is for tax credits received through a pass-through entity, such as a partnership or S corporation. For each entity-reported credit: 

• Column A: Type of tax credit 
• Column B: Name of the pass-through entity 
• Column C: FEIN (Federal Employer Identification Number) of the entity 
• Column D: Amount of credit passed through 

Up to six credits may be entered manually. If you have additional credits from attached schedules, enter the total in the field labeled Additional tax credits from attached schedules. 

Part III – Angel Investor Credit 

Enter information for any Angel Investor Credits received via voucher: 

• CII Voucher Number: Enter the voucher number 
• Select whether the credit is held by the Original Holder or was Assigned to you 

You may enter multiple voucher numbers if applicable. Make sure to retain documentation for all claimed credits in case the Connecticut Department of Revenue Services requests verification. 

Further Information 

For additional information, please see the CT Schedule CT-IT Credit PDF.