Get Form Dtf-625:10/09: Low-income Housing Credit Allocation And ... - Tax Ny

This guide provides a comprehensive overview of how to accurately complete Form DTF-625:10/09, which is essential for Low-Income Housing Credit Allocation in New York. It is designed to assist users of all experience levels with a clear, step-by-step approach for filling out the form online.

Follow the steps to successfully complete Form DTF-625.

1. Press the ‘Get Form’ button to obtain the form and open it for editing.
2. In Part 1, indicate whether this form is an addition to the qualified basis, an amended form, or if the property is receiving a federal Low-Income Housing Credit by marking the appropriate box.
3. Provide the address of the building without using a PO box, along with the name and address of the owner who is receiving the allocation.
4. Enter the New York State Building Identification Number (BIN) and the taxpayer identification number of the building owner.
5. Record the date of allocation in 'mm-dd-yyyy' format and the maximum housing credit dollar amount allowable.
6. Fill out the maximum applicable credit percentage allowable and the maximum qualified basis, including details about any increases under high-cost area provisions if applicable.
7. Indicate the percentage of the aggregate basis financed by tax-exempt bonds and the date the building was placed in service.
8. In the allocation description section, mark all relevant boxes that apply to the building such as newly constructed, existing building, or others as specified.
9. For Part 2, complete the first-year certification. Enter the date the building was placed in service and the eligible basis of the building.
10. Indicate whether the building is treated as part of a multiple building project and whether elections regarding eligible basis and minimum set-aside requirements are being made.
11. After completing all sections, review the information for accuracy. Finally, save your changes, download, print, or share the form as needed.

Begin filling out your documents online today to ensure compliance and efficient management.