Get Ny It-255 2020

The NY IT-255 form allows users to claim a credit for solar energy system equipment. This guide provides step-by-step instructions on how to accurately complete the form online, ensuring you can effectively submit your claim.

Follow the steps to successfully fill out the NY IT-255 form.

1. Click ‘Get Form’ button to obtain the form and open it for editing.
2. Begin by entering your name(s) as shown on your tax return in the designated field.
3. Provide your Social Security number in the specified area.
4. Indicate whether your solar energy system uses solar radiation to produce energy for residential purposes by selecting 'Yes' or 'No'. If 'No', you do not qualify for the credit.
5. If 'Yes', proceed to Schedule A to compute your solar energy system equipment credit. Fill in the date the equipment was placed in service and the qualified expenditures in the appropriate columns.
6. Calculate your credit for each equipment purchase by multiplying the expenditures by 25%, ensuring it does not exceed $5000.
7. Complete the current year credit, carryover credit from the previous year, and other specified lines by following the instructions provided within the form.
8. After calculating your credits, review the information to ensure accuracy before finalizing.
9. Once all fields are complete, save your changes, and you can then download, print, or share the form as needed.

Start filling out your NY IT-255 online today to claim your solar energy system equipment credit.