Section 35 - Form 4255, Certain Credit Recapture, Excessive Payments, and Penalties

Section 35 is transcribed from Form 4255, Certain Credit Recapture, Excessive Payments, and Penalties, which may be attached to Form 1065 for tax periods 202401 and later.

All money amounts are positive (+) and transcribed in dollars only.

Listed below are the fields displayed in Section 35, Form 4255, Certain Credit Recapture, Excessive Payments, and Penalties.

Field Designator

Field Length

Field Title

Dollars/Cents

Positive/Negative

Location

351AS

15

Form 7207 Recapture of Net EPE and Net EPE portion of 100% Excessive Payment.

$

Part 1, Line 1a, col (s)

351AT

15

Form 7207 20% Excessive Payment, Prevailing Wage, & Apprenticeship Penalties.

$

Part 1, Line 1a, col (t)

351CS

15

Form 7210 Recapture of Net EPE and Net EPE portion of 100% Excessive Payment.

$

Part 1, Line 1c, col (s)

351CT

15

Form 7210 20% Excessive Payment, Prevailing Wage, & Apprenticeship Penalties.

$

Part 1, Line 1c, col (t)

351DS

15

Form 3468, Part IV Recapture of Net EPE and Net EPE portion of 100% Excessive Payment.

$

Part 1, Line 1d, col (s)

351DT

15

Form 3468, Part IV 20% Excessive Payment, Prevailing Wage, & Apprenticeship Penalties.

$

Part 1, Line 1d, col (t)

352AS

15

Form 8933 Recapture of Net EPE and Net EPE portion of 100% Excessive Payment.

$

Part 1, Line 2a, col (s)

352AT

15

Form 8933 20% Excessive Payment, Prevailing Wage, & Apprenticeship Penalties.

$

Part 1, Line 2a, col (t)

Invalid Condition:

The field length is more than 15 characters.

The field is not numeric and positive.

The field is not dollars only.

The tax period is before 202401.

Correction procedures:

Correct coding, transcription errors, and misplaced entries.

If the tax period is before 202401, then delete the field.