Low-Income Housing Credit

Use the California Tax Form Calculator California Tax Form 3521 as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 California state tax return. Alternatively, you can use one of our Combined Federal and State Tax Estimators to quickly calculate your salary, tax, and take-home pay.

Low-Income Housing Credit
Part I Available Credit
1	Has the eligible basis of any project or building decreased since you received form CTCAC 3521A from the California Tax Credit Allocation Committee? Yes No If “Yes,” complete Part III before continuing. See General Information C.
2	Current year credit. See instructions						2
3	Enter any affiliated corporation or pass-through low-income housing credits from other entities below. See instructions
	If you are a	Current year low-income housing credits from –	(a) Name of entity passing through the credit –	(b) Identification numbers – California corporation, FEIN, etc.		(c) BIN	(d) Total amount of affiliated corporation or pass-through credit(s)
	Corporation	FTB 3521, line 10 of the affiliated corporation
	S corporation shareholder	Schedule K-1 (100S), line 13a
	Beneficiary	Schedule K-1 (541), line 13d
	Partner or LLC member	Schedule K-1 (565, 568), line 15b
	Total pass-through low-income housing credit. Add the amounts in column (d)						3
4	Current year low-income housing credit. Add line 2 and line 3						4
5	Enter the amount of low-income housing credit on line 4 that is from passive activities. If none of the amount on line 4 is from passive activities, enter -0-						5
6	Subtract line 5 from line 4						6
7	Enter the allowable low-income housing credit from passive activities. See instructions						7
8	Low-income housing credit carryover from prior year						8
9	Add line 6 through line 8						9
10	Corporations only: Amount of low-income housing credit allocated to affiliated corporations: See instructions.
	Corporation name			California corporation number			Amount of credit allocated


	Total amount of low-income housing credit allocated. If you are not a corporation, enter -0-						10
11	Total available low-income housing credit. Subtract line 10 from line 9						11
Part II Carryover Computation
12a	a Credit claimed. Enter the amount of the credit claimed on the current year tax return. See instructions (Do not include any assigned credit claimed on form FTB 3544A.)						12a
12b	Total credit assigned. Enter the total amount from form FTB 3544, column (g). If you are not a corporation, enter -0-. See instructions						12b
13	Carryover to future years. Add line 12a and line 12b, subtract the result from line 11						13
Part III Basis Recomputations. Complete this part only if the basis in a project or building has decreased. Use additional sheets if necessary.
				(a) Building 1	(b) Building 2	(c) Total
14	Date building was placed in service (month/year)		14
15	BIN		15
16	Eligible basis of building. See General Information C		16
17	Low-income portion (lesser of unit percentage or floor-space percentage). See instructions		17
18	Qualified basis of low-income building. Multiply line 16 by line 17		18
19	Applicable percentage. See General Information B		19
20	Multiply line 18 by line 19. See Specific Line Instructions for Part I, line 2		20

Last reviewed: : If you believe this form requires an update, please contact us.

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Frequently Asked Questions

How does community property affect my CA return?

Married/RDP filers may have community property allocation rules; see CA guidance.

Are employer retirement contributions taxed by CA?

Pre-tax 401(k)/403(b) contributions reduce federal and generally CA taxable wages.

Is there a separate Medicare surtax in CA?

Additional Medicare is federal; California PIT is separate and applies via its own brackets/credits.

Does CA tax out-of-state remote work?

CA generally taxes income earned while working in CA; non-CA work may be non-CA source—track days/location.

Can I deduct mortgage interest in CA?

Often yes, subject to CA limits/adjustments; compare standard vs itemized for CA.

Important Notes

All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.