Get Form It-217-i: 1998 , Instructions For Form It-217, It217i - Tax Ny

This guide provides a step-by-step approach to filling out Form IT-217-I for the 1998 tax year, aimed at individuals and entities engaged in farming in New York. It focuses on making the process clear and accessible, ensuring users can effectively claim the Farmers’ School Tax Credit.

Follow the steps to successfully complete the form online.

1. Press the ‘Get Form’ button to obtain the form and open it in the document editor.
2. Review the general information to understand eligibility requirements for the Farmers’ School Tax Credit, including definitions of qualified agricultural property.
3. In Part I, check the appropriate boxes to confirm ownership of qualified agricultural property and payment of eligible school district property taxes.
4. Complete Worksheet A to verify that your modified New York adjusted gross income is below the threshold for eligibility.
5. Fill in Part II to compute the credit, including the total acres of agricultural property owned.
6. For partnerships or trusts, complete Part III to provide information about shares of qualified agricultural property and eligible taxes.
7. Complete any additional relevant parts, such as Part IV for partners and Part V for beneficiaries, based on your status.
8. If applicable, fill out Part VI to address any recapture of credit if agricultural property was converted to nonqualified use.
9. Once all sections of the form are complete, review your entries to ensure accuracy.
10. Save your changes, then download, print, or share the completed form as needed.

Complete your forms online to ensure timely and accurate submissions.