New York Claim for Historic Homeownership Rehabilitation Credit

Claim for Historic Homeownership Rehabilitation Credit
Form IT-237 Claim for Historic Homeownership Rehabilitation Credit Tax Year 2023
IT-237

Department of Taxation and Finance

Claim for Historic Homeownership
Rehabilitation Credit
Tax Law – Section 606(pp)
Submit this form with Form IT-201 or Form IT-203.
Your name as shown on return

Your Social Security number

Spouse’s name

Spouse’s Social Security number

Part 1 – Property information and computation of credit

Schedule A – Property information (enter information from Certificate of Completion for each property)
		
A – Address of property	
B – Project number	
(street, city, state, ZIP)		
	Property	
				

C – Date of final
certification or date of 		
purchase

1
2

Schedule B – Computation of credit
		
	 Property	
		

A – Qualified rehabilitation	
B – Multiply 	
C – Enter the lesser of column B 	
expenditures	
column A by 20% (0.2)	
or 50,000 for each property 	
(see instructions)		
(married filers, see instructions)	

1
2

D – Married filing jointly only:
spouse’s share of column B
(see instructions)

.00	

.00		

.00	

.00

.00	

.00		

.00	

.00

	1	Total column C amounts and total column D amounts ......................	 1	
.00	
	2	Credit limitation per taxpayer .............................................................	 2	50000.00	
	3	Enter the lesser of line 1 or line 2 ......................................................	 3	
.00	
	4	Current year historic homeownership rehabilitation credit
		  (add line 3, column C and line 3, column D) ............................................................................................. 	
	5	Enter the carryover credit from last year’s Form IT-237, line 14 ........................................................... 	
	6	Add lines 4 and 5 .................................................................................................................................. 	
	7	Enter recapture amount from line 15 ..................................................................................................... 	
	 8	 Total credit (If line 7 is less than line 6, subtract line 7 from line 6; leave line 9 blank and see instructions.
		  If line 7 is more than line 6, do not enter an amount on line 8; go to line 9.) ................................................... 	
	9	Net recapture amount (subtract line 6 from line 7; see instructions) ............................................................. 	

.00

1		
2		
3		

50000.00

4	
5	
6	
7	

.00
.00
.00
.00

8	
9	

.00
.00

10	
11	
12	
13	
14	

.00
.00
.00
.00
.00

.00

Part 2 – Application of credit and computation of carryover
	10	
	11	
	12	
	13	
	14	

Tax due before credits (see instructions) .................................................................................................. 	
Other credits that you applied before this credit (see instructions) .......................................................... 	
Subtract line 11 from line 10 .................................................................................................................. 	
Enter the amount from line 8 or line 12, whichever is less (see instructions) ........................................... 	
Amount of credit available for carryover to next year (subtract line 13 from line 8) ................................... 	

Part 3 – NYS recapture of credit (see the instructions to determine if you are required to complete this part)
	
A – Project number	
	
	
		
		

B – Number of	
C – (24 - B)	
D – (C ÷ 24) 	
months home 	
	
(see instructions)	
qualified for			
the credit

E – Enter amount of credit 	
allowed	
(see instructions)

.00	
	15	 Amount to be recaptured (from column F; enter here and on line 7) ............................................................ 	 15	

237001230094

F – Recapture amount
(D × E)

.00
.00