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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-238
for the current year.
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 a tax form used in New York to claim the Rehabilitation of Historic Properties Credit.
Q: Who can claim the Rehabilitation of Historic Properties Credit?
A: Property owners, developers, and lessees can claim this credit if they have made qualified rehabilitation expenses on a certified historic property in New York.
Q: What is the purpose of the Rehabilitation of Historic Properties Credit?
A: The credit is designed to encourage the rehabilitation and preservation of certified historic properties in New York.
Q: How do I qualify for the Rehabilitation of Historic Properties Credit?
A: To qualify, the property must be certified as a historic property by the Commissioner of Parks, Recreation, and Historic Preservation in New York.
Q: What expenses can be included in the claim for the Rehabilitation of Historic Properties Credit?
A: Qualified rehabilitation expenses, such as construction costs and architectural fees, can be included in the claim.
Q: How much is the Rehabilitation of Historic Properties Credit?
A: The credit is equal to a percentage of the qualified rehabilitation expenses, with different rates depending on the type of property and the extent of the rehabilitation.
Q: When is the deadline to file Form IT-238?
A: The form must be filed on or before the due date of the taxpayer's New York State tax return for the year the credit is being claimed.
Q: Are there any limitations or restrictions for claiming the Rehabilitation of Historic Properties Credit?
A: Yes, there are certain limitations, including a maximum credit amount and a recapture provision if the property is disposed of within five years of claiming the credit.
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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