Get Ny Dtf It-602 2021-2025

The NY DTF IT-602 is a critical form for individuals seeking to claim the EZ Capital Tax Credit. This guide will provide you with clear, step-by-step instructions to help you complete the form accurately and efficiently online.

Follow the steps to fill out your NY DTF IT-602 form.

1. Press the ‘Get Form’ button to access the form and open it in the editing interface.
2. Begin by entering the name(s) as shown on your tax return in the designated field.
3. Input the identifying number as reflected on your tax return in the specified section.
4. Move to Schedule A and input the tax from your applicable Form IT-201, IT-203, or IT-205 on line 1.
5. Calculate 50% of the amount entered in line 1 and report this figure on line 2.
6. Proceed to Schedule B. Enter any carryover credit from last year's Form IT-602 on line 3.
7. On line 4, indicate the amount of EZ capital tax credit that is available for use this year, which should be the lesser of line 2 or line 3.
8. For line 5, enter the tax due before any credits as instructed based on your selected tax form.
9. On line 6, report any tax credits that have been claimed prior to this credit.
10. Subtract the amount on line 6 from the amount on line 5 and enter the net tax on line 7.
11. On line 8, input the lesser of line 4 or line 7 as the amount of credit used for the current tax year.
12. Finally, calculate the amount of credit available for carryover to the next year by subtracting line 8 from line 3 and enter this on line 9.
13. Once you have filled out all sections, ensure to save your changes. You can either download, print, or share the completed form as needed.

Start filling out your NY DTF IT-602 form online today to ensure you make the most of your tax credit opportunities.