Get Form It-256:2008: Claim For Special Additional Mortgage Recording ... - Tax Ny

Filling out Form IT-256 allows individuals and businesses to claim a special additional mortgage recording tax credit. This step-by-step guide will assist users in completing the form accurately and efficiently online, ensuring that you can maximize your tax benefits with ease.

Follow the steps to complete the form effectively.

1. Click the ‘Get Form’ button to obtain the form and open it in your preferred editing tool.
2. Begin by entering your taxpayer identification number at the top of the form. Ensure that the number is accurate to avoid processing delays.
3. Provide your name as it appears on your tax return documentation. This is essential for alignment with your records.
4. In Part 1, indicate the total number of properties included in your claim. Use a separate line for each property and if necessary, attach additional Form(s) IT-256 for any extra properties.
5. For each property listed, provide the location, date the mortgage was recorded, the amount of the mortgage, and the amount of special additional mortgage recording tax paid in the respective fields.
6. Calculate the total of the amounts listed in column D from any additional forms and enter it in line 1. Then sum these totals for the current tax year and enter that amount in line 2.
7. In Part 2, if applicable, complete the details of your partnership or estate/trust information, including the type of entity and employer identification number.
8. In Part 3, enter your specific share of the credit received from partnerships or fiduciary entities in the designated lines.
9. Continue to Part 4, where you summarize the share of credit for beneficiaries and fiduciaries, including totals and any relevant identifiers.
10. In Part 5, compute your special additional mortgage recording tax credit available for the current tax year by adding and entering totals from previous parts in the designated spaces.
11. Proceed to Part 6 to complete the application of credit and computation of carryover, ensuring accurate transfer of amounts where required.
12. After filling out all sections, review the form for accuracy, ensuring that all fields are completed correctly before submitting.
13. Finally, save your changes, download the completed form, and prepare it for submission to the Tax Department according to the provided instructions.

Complete your documents online today to ensure accurate and timely submissions!