Article: 50689
General Information
This screen is located under the State Taxes → Connecticut → “I’d like to see the forms I’ve filled out or search for a form.” → Credits tab, and is used to complete Connecticut Schedule IT, which summarizes available income tax credits. The schedule is divided into three parts:
Part I – Tax Credits Applied to Tax Liability
Enter credit amounts earned and applied for the 2024 tax year. Each line corresponds to a specific Connecticut credit program.
For each applicable credit:
- Column C: Enter the amount of credit earned in 2024.
- Column D: Enter the portion of the credit applied to the 2024 tax liability.
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