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This version of the form is not currently in use and is provided for reference only. Download this version of
Form IT-242
for the current year.
Form IT-242 Claim for Conservation Easement Tax Credit - New York
What Is Form IT-242?
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-242?
A: Form IT-242 is used to claim the Conservation EasementTax Credit in New York.
Q: What is the Conservation Easement Tax Credit?
A: The Conservation Easement Tax Credit is a credit available to taxpayers who donate a qualified real property interest for conservation purposes.
Q: Who can claim the Conservation Easement Tax Credit?
A: Anyone who donates a qualified real property interest for conservation purposes in New York can claim the Conservation Easement Tax Credit.
Q: What is a qualified real property interest?
A: A qualified real property interest includes a perpetual easement or other restriction on the use of real property that meets certain conservation purposes and requirements.
Q: What are the requirements for claiming the Conservation Easement Tax Credit?
A: To claim the Conservation Easement Tax Credit, you must meet specific requirements related to the donated property, appraisal, and certification.
Q: When is the deadline to file Form IT-242?
A: The deadline to file Form IT-242 is generally the same as the deadline for filing your New York State income tax return.
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-242 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-242 Claim for Conservation Easement Tax Credit - New York
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