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Get NY DTF IT-242 2020-2021

IT-242 Department of Taxation and Finance Claim for Conservation Easement Tax Credit Tax Law Article 22 Section 606 kk Submit this form with Form IT-201 IT-203 IT-204 or IT-205. 302001180094 IT-242 2018 back Part 4 Beneficiary s and fiduciary s share of credit see instructions Share of conservation easement credit Total fiduciaries enter the amount from line 2 plus the amount from line 5 Fiduciary Part 5 Computation of conservation easement tax credit Individual including sole proprietor and partnership 6 Enter the amount from line 2. Name s as shown on return Fiscal-year filers enter tax period beginning and ending Identifying number as shown on return Part 1 Individual including sole proprietor partnership and estate or trust submit additional sheets if necessary see instructions A B C Allocated allowable Multiply column A Other real property Conservation real property taxes by 25. 25 tax credits easement see instructions see instructions D Subtract column C from A E Enter the lesser of column B or D 1 Total of column E amounts from additional sheet s if any. 1 2 Total of all column E amounts include any amount on line 1. 2 Fiduciary Include the line 2 amount on the Total line of Part 4 column C. All others Enter the line 2 amount on line 6. Part 2 Partnership estate and trust information see instructions If you received a share of the conservation easement tax credit from a partnership estate or trust complete the following information for each partnership estate or trust. For Type enter P for partnership or ET for estate or trust. Name of entity Type Employer identification number Part 3 Partner s or beneficiary s share of credit see instructions Partner Beneficiary 3 Enter your share of the credit from your partnership s. 3 5 Total add lines 3 and 4. 5 Fiduciary that is also a partner or beneficiary of another entity Include the l*ine 5 amount on the Total line of Part 4 column C. 6 Partner and beneficiary 7 Enter the amount from line 5. 7 9 Credit before limitation see instructions. 9 the line 9 amount. This is your conservation easement tax credit. 10 Part 6 Conservation easement identifying information submit additional sheets if necessary see instructions Address Name of conservation agency Recording information Date of conveyance mmddyyyy DEC identification number CE. Name s as shown on return Fiscal-year filers enter tax period beginning and ending Identifying number as shown on return Part 1 Individual including sole proprietor partnership and estate or trust submit additional sheets if necessary see instructions A B C Allocated allowable Multiply column A Other real property Conservation real property taxes by 25. 25 tax credits easement see instructions see instructions D Subtract column C from A E Enter the lesser of column B or D 1 Total of column E amounts from additional sheet s if any. 25 tax credits easement see instructions see instructions D Subtract column C from A E Enter the lesser of column B or D 1 Total of column E amounts from additional sheet s if any. 1 2 Total of all column E amounts include any amount on line 1. 2 Fiduciary Include the line 2 amount on the Total line of Part 4 column C..

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