New York Tax Form 625att Fill in and Calculate New York State tax Online

New York Tax Form 625att: Low-Income Housing Credit Annual Statement

Use the New York Tax Form Calculator New York Tax Form 625att: Low-Income Housing Credit Annual Statement as a stand alone tax form calculator to quickly calculate specific amounts for your 2024 New York state tax return.

Low-Income Housing Credit Annual Statement
Part 1 – Compliance information
A	New York State building identification number (BIN) from Form DTF-625		A
B	Mark an X in one box if this Form DTF-625-ATT is for (see instructions):
C	Do you have in your records the original Form DTF-625 (or a copy of the original) signed and issued by the housing credit agency for the building in A? (see instructions) If No, stop; do not complete Part 2 (see instructions).		C	Yes No
D	Did the building in A qualify as a part of a qualified low-income housing project and meet the requirements of New York State Public Housing Law Article 2-A and IRC section 42 as of the end of the tax year for which this form is being filed? If No, stop; do not complete Part 2 (see instructions)		D	Yes No
E	Was there a decrease in the qualified basis of the building in A for the tax year for which you are filing this form? If Yes, see the instructions. If No, and the entire credit has been claimed in prior tax years, stop; do not complete Part 2.		E	Yes No
Part 2 – Computation of credit
1	Eligible basis of building		1
2	Low-income portion (smaller of unit fraction or floor-space fraction)		2
3	Qualified basis of low-income building. Multiply line 1 by line 2 (see instructions for exceptions)		3
4	Part-year adjustment for disposition or acquisition during the tax year (see instructions)		4
5	Credit percentage (round decimal to the fourth place; see instructions)		5
6	Multiply line 3 or line 4 by the percentage (decimal) on line 5 (see instructions)		6
7	Additions to qualified basis, if any (see instructions)	7
8	Part-year adjustment for disposition or acquisition during the tax year (see instr.)	8
9	Credit percentage. Enter one-third of the percentage on line 5 (round decimal to the fourth place; see instructions)	9
10	Multiply line 7 or line 8 by the percentage on line 9 (see instructions)	10
11	Internal Revenue Code (IRC) section 42(f)(3)(B) modification (see instr.)	11
12	Add lines 10 and 11		12
13	Credit for building before line 15 reduction. Subtract line 12 from line 6		13
14	Enter the amount from line 13 on the front page		14
15	Disallowed credit due to federal grants (see instructions)		15
16	Credit allowed for building for tax year. Subtract line 15 from line 14, but do not enter more than the amount shown on Form DTF-625, Part 1, line 1b		16
17	Taxpayer’s proportionate share of credit for the year (see instructions)		17
18	Adjustments for deferred first-year credit (see instructions)		18
19	Taxpayer’s credit. Add lines 17 and 18. Enter here and include on Form DTF-624, Part 1, line 3 (see instructions for Form DTF-624)		19

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