Form IT-238 Claim for Rehabilitation of Historic Properties Credit - New York

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Form IT-238 Claim for Rehabilitation of Historic Properties Credit - New York

What Is Form IT-238?

This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. Check the official instructions before completing and submitting the form.

FAQ

Q: What is Form IT-238?
A: Form IT-238 is the Claim for Rehabilitation of Historic Properties Credit for the state of New York.

Q: What is the purpose of Form IT-238?
A: The purpose of Form IT-238 is to claim a tax credit for the rehabilitation of historic properties in the state of New York.

Q: Who is eligible to file Form IT-238?
A: Property owners who have made qualified expenditures for the rehabilitation of historic properties in New York are eligible to file Form IT-238.

Q: What expenses can be claimed on Form IT-238?
A: Qualified expenditures for the rehabilitation of historic properties, such as expenses for construction, labor, materials, and architectural fees, can be claimed on Form IT-238.

Q: How much is the tax credit for rehabilitation of historic properties?
A: The tax credit for rehabilitation of historic properties in New York is equal to 20% of the qualified expenditures made.

Q: Are there any limitations on the tax credit?
A: Yes, the tax credit is subject to certain limitations, including the availability of credits, the amount of credit claimed in a year, and the overall program cap.

Q: When should Form IT-238 be filed?
A: Form IT-238 should be filed along with the taxpayer's annual income tax return for the year in which the qualified expenditures were made.

Q: Is there a deadline for filing Form IT-238?
A: Yes, Form IT-238 must be filed within three years from the due date of the original income tax return for the year in which the qualified expenditures were made.

Q: Is there a fee for filing Form IT-238?
A: No, there is no fee for filing Form IT-238.

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Form Details:

  • The latest edition provided by the New York State Department of Taxation and Finance;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form IT-238 by clicking the link below or browse more documents and templates provided by the New York State Department of Taxation and Finance.

Download Form IT-238 Claim for Rehabilitation of Historic Properties Credit - New York

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