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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 the Claim for Conservation Easement Tax Credit form in New York.
Q: What is the purpose of form IT-242?
A: The purpose of form IT-242 is to claim the Conservation Easement Tax Credit in New York.
Q: Who can use form IT-242?
A: Individuals and corporations who have donated a qualified real property interest for conservation purposes in New York can use form IT-242.
Q: What is a conservation easement?
A: A conservation easement is a legal agreement between a landowner and a land trust or government agency that restricts the development or use of the land for conservation purposes.
Q: What are the requirements to claim the Conservation Easement Tax Credit?
A: To claim the Conservation Easement Tax Credit, the donated property interest must be valued at $500,000 or more and meet other specified criteria.
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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