What is a New York Form IT-214 2023?
Titled Claim for Real Property Tax Credit for Homeowners and Renters, form IT-214 pertains to individuals/households (not businesses) and can be used for claiming a credit on the real property tax provided that you reside in the city of New York and have a specified level of income.
What do I need the New York Form IT 214 for?
As a homeowner or renter occupying the same residence in New York for at least six months and generally residing in New York for the entire year, you need the New York Form IT-214 to claim the real property tax credit. This applies if:
- your property has a current market value of not more than 85,000 USD;
- additional specific requirements apply to renters and homeowners.
How to Fill Out New York IT-214 Form 2023 - 2024?
To get a fillable New York Form IT-214, download New York Form IT-214 blank pdf documents for free, which you can print or file online. Remember that this is not an IRS form but one addressing the New York State Department of Taxation and Finance. The form is to be submitted along with a completed IT-201 form.
Step 1: Complete Personal Details
Fill in lines 1-4 with the required personal information, including your full name, Social Security Number, home address, and county of residence.
Step 2: Indicate Residency Type
On line 5, select the relevant box to indicate if you are a full-time resident, part-time resident, or non-resident of New York State. Include the dates of your residency if you are a part-year resident.
Step 3: Enter Your Income Details
Provide your qualifying total income on lines 6-10, which consists of earnings, taxable interest, dividend income, and other sources of income. Refer to the instructions for each line to compute the correct amount to report.
Step 4: List Your Dependents
Input the total number of dependents for your tax return on line 11. Check your federal tax return for the count of qualifying children or relatives who depend on you for financial support.
Step 5: Determine Your Allowable Property Taxes
For lines 12-17, follow the form's instructions to determine your allowable property taxes. Your calculations will vary based on whether you're a renter or homeowner and live in a single-family, two-family, or three-family house or an apartment building.
Step 6: Compute Your Real Property Tax Credit
Complete lines 18-24 to determine your Real Property Tax Credit using your provided information. Follow the form's guidelines for each line to calculate the amounts and deductions accurately.
Step 7: Provide Personal ID Details
If you possess a driver's license or state-issued ID, fill out lines 25-27 with the necessary data, such as ID number, state of issuance, and date of issue.
Step 8: Sign and Date NY State tax form IT 214
At the bottom of the form, sign and date your state tax credit; after that, you can file IT-214 online.
Organizations that work with NY tax form IT 214
- New York State Department of Taxation and Finance
Related Content - New York Form IT-214
