Instructions for Form IT-272 Claim for College Tuition Credit or Itemized Deduction - New York

Form IT-272 Claim for College Tuition Credit or Itemized Deduction - New York

This document contains official instructions for Form IT-272 , Claim for College Tuition Credit or Itemized Deduction - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-272 is available for download through this link.

FAQ

Q: What is Form IT-272?
A: Form IT-272 is a New York State tax form used to claim a college tuition credit or itemized deduction.

Q: Who can use Form IT-272?
A: New York State residents who paid qualified college tuition expenses for themselves, their spouse, or their dependents can use Form IT-272.

Q: What is the purpose of Form IT-272?
A: The purpose of Form IT-272 is to provide a tax credit or deduction for qualified college tuition expenses paid by New York State residents.

Q: What is a college tuition credit?
A: A college tuition credit is a direct reduction of the amount of tax owed, based on qualified college tuition expenses paid.

Q: What is a college tuition deduction?
A: A college tuition deduction allows taxpayers to subtract qualified college tuition expenses from their taxable income.

Q: What are the requirements to qualify for the college tuition credit or deduction?
A: To qualify, the taxpayer and/or their dependent must have attended an eligible educational institution and meet certain income limitations.

Q: What expenses are considered qualified college tuition expenses?
A: Qualified college tuition expenses include tuition and fees paid to eligible educational institutions.

Q: Do I need to attach any documentation to Form IT-272?
A: Yes, you need to attach copies of your federal tax return, W-2 forms, and any other relevant documentation.

Q: When is the deadline to file Form IT-272?
A: The deadline to file Form IT-272 is the same as the deadline for filing your New York State income tax return, which is typically April 15th.