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New York Tax Form 624: Claim for Low-Income Housing Credit

Use the New York Tax Form Calculator New York Tax Form 624: Claim for Low-Income Housing Credit as a stand alone tax form calculator to quickly calculate specific amounts for your 2017 New York state tax return. New York Tax Form 624: Claim for Low-Income Housing Credit is also integrated into our comprehensive New York State Tax Calculator where you can complete and save your calculations for later use. Alternatively you can use one of our Combined Federal and New York State Tax Estimator to quickly calculate your salary, tax and take home pay in New York.

Claim for Low-Income Housing Credit
File this form with your New York State franchise tax return or income tax return.
Part 1 – Current-year credit (see instructions)
11
2Has there been a decrease in the qualified basis of any buildings since the close of the
preceding tax year? (see instructions)  
If Yes, enter the building identification number (BIN) of the building(s) that had a
decreased basis. If you need more space, use a separate schedule.
(1)   (2)   (3)   (4)
33
44
55
66
77
88
Individuals: Complete Part 6.
Partnerships: Enter the line 8 amount and code 624 on Form IT-204, line 147.
Fiduciaries: Complete Part 6.
New York S corporations: Enter the line 8 amount on the appropriate line of Form CT-34-SH.
C corporations, including all corporate partners: Complete Part 2 below to compute the amount of credit to be transferred to your franchise tax return.
Part 2 – Computation of credit (Completed by Article 9-A and 33 corporations, including corporate partners, but not by New York S corporations) (see instructions)
99
1010
1111
1212
1313
1414
1515
1616
1717
1818
Part 3 – Beneficiary’s and fiduciary’s share of credit (use additional sheets if necessary; see instructions)
A
Beneficiary’s name (same as on Form IT-205, Schedule C)
B
Identifying number
C
BIN of building
D
Share of credit
(see instructions)
Total (see instructions)
Fiduciary
A  
Part 4 – Partner’s and shareholder’s share of credit attributable to multiple buildings
(use additional sheets if necessary; see instructions)
A
Partner’s or shareholder’s name
B
Identifying number
C
BIN of building
D
Share of low-income housing credit
Part 5 – Partnership, New York S corporation, and estate and trust information (use additional sheets if necessary; see instr.)
If you were a partner in a partnership, a shareholder of a New York S corporation, or a beneficiary of an estate or trust, and received a share of the low-income housing credit from a flow-through entity, complete the following information for each partnership, New York S corporation, or estate or trust. For Type, enter P for partnership, S for New York S corporation, or ET for estate or trust.
A
Name of entity
B
Type
C
Employer ID number
D
BIN of building
E
Share of low-income housing credit
Part 6 – Application of credit and computation of carryover (Article 22 only)
1919
2020
2121
2222
2323

Tip: use the New York Tax Calculator to edit your refundable and non-refundable tax credits including New York Tax Form 624: Claim for Low-Income Housing Credit. Complete, Calculate, print and or save your tax calculation for later use.

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New York State tax calculators: Online Claim for Low-Income Housing Credit, complete, calculate, print or save for later use. New York Tax Form Calculator