New York Claim for Rehabilitation of Historic Properties Credit

Tax day has passed, and refunds are being processed! You can still e-file a late tax return here

with TurboTax

Claim for Rehabilitation of Historic Properties Credit
Form IT-238 Claim for Rehabilitation of Historic Properties Credit Tax Year 2023IT-238

Department of Taxation and Finance

Claim for Rehabilitation of
Historic Properties Credit
Tax Law – Section 606(oo)

File this form with Form IT-201, IT-203, IT-204, or IT-205.
Note: Do not use Form IT-238 to claim the historic homeownership rehabilitation credit (see instructions).
Identifying number as shown on return
	 Name(s) as shown on return		
All filers must complete line A.
	A	 Are you claiming this credit as an individual (sole proprietor), partnership, or fiduciary of an estate or trust that
		 earned the credit (not as a partner, shareholder, or beneficiary, receiving a share of the credit)? (mark an X in
		 the appropriate box; see instructions) ..........................................................................................................................	Yes	
No
If Yes:
If No, and you are claiming a credit passed through to you
Individual (sole proprietor): Complete Parts 1, 5, and 6, and if
as a partner in a partnership, shareholder of a New York
applicable, Part 7.
S corporation, or beneficiary of an estate or trust, complete
Parts 2, 3, 5, and 6, and if applicable, Part 7. Fiduciary, also
Partnerships: Complete Parts 1 and 5.
complete Part 4.
Fiduciary: Complete Parts 1, 4, 5, and 6, and if applicable,
Part 7.

Part 1 – Individual (including sole proprietor), partnership, and estate or trust (see instructions)
Schedule A – Historic property information

A
Address of certified historic structure

Property

B
Type of
property

C
Project number

D
Date of completion

(enter code)

	1
	2
	3

Schedule B – Credit computation
Property

Small project

(see instructions)

A
Qualified rehabilitation
expenditures

B
Multiply column A by 20% (0.2)

C
Small projects only: Multiply
column B by 150% (1.5) (see instr.)

D
Allowable credit amount
(see instructions)

	1	

.00	

.00	

.00	

.00

	2	

.00	

.00	

.00	

.00

	3	

.00	

.00	

.00	

.00

	1	Total of column D amounts from any additional forms..................................................................	
	 2	 Total of all column D amounts (include any amount on line 1) ............................................................	

1		
.00
2		
.00

		Fiduciary: Include the line 2 amount on the Total line of Part 4, column C.
		 All others: Enter the line 2 amount or your share of the line 2 amount on line 7 (see instructions).

Part 2 – Partnership, New York S corporation, estate, and trust information (see instructions)
If you were a partner in a partnership, a shareholder of a New York S corporation, or a beneficiary of an estate or trust and received a share of
the rehabilitation of historic properties credit or a share of the recapture of credit from that entity, complete the following information for each
partnership, New York S corporation, estate or trust. For Type, enter P for partnership, S for S corporation, or ET for estate or trust.
A – Name of entity 	

	

238001230094

B – Type 	 C – Project number (see instr.) 	

D – Employer identification number

IT-238 (2023) (back)

Part 3 – Partner’s, shareholder’s, or beneficiary’s share of credit (see instructions)
Partner
S corporation
shareholder
Beneficiary

3	 Enter your share of the credit from your partnership ........................................ 	

3	

.00

4	 Enter your share of the credit from your S corporation .................................... 	
5	 Enter your share of the credit from the estate or trust ........................................ 	
6	Total (add lines 3, 4, and 5) ................................................................................. 	

4	
5	
6	

.00
.00
.00

		Fiduciary: Include the line 6 amount on the Total line of Part 4, column C.
		 All others: Enter the line 6 amount on line 8.

Part 4 – Beneficiary’s and fiduciary’s share of credit (see instructions)
A – Beneficiary’s name

(same as on Form IT-205, Schedule C)

C – Share of rehabilitation of
historic properties credit

B – Identifying number

Total (fiduciaries, enter the amount from line 2, plus the amount
  from line 6)	

.00

		

.00

		

.00

Fiduciary	.00

Part 5 – Computation of credit
Individual (including sole
proprietor) and partnership 	 7	 Enter the amount or your share of the amount from line 2 ...... 	 7	
Partner, S corporation
shareholder, beneficiary
	8	Enter the amount from line 6 .................................................... 	 8	
Fiduciary
	9	Enter the amount from Part 4, Fiduciary line, column C .......... 	 9	
	10	 Current year credit (add lines 7, 8, and 9) ................................... 	 10	
	11	Enter the carryover credit from last year’s Form IT-238 ............ 	 11	
	 12	 Total credit (add lines 10 and 11; see instructions) ....................... 	 12	

.00
.00
.00
.00
.00
.00

Part 6 – Application of credit and computation of carryover
13	
14	
15	
16	
17	
18	
19	
20	
21	
22	
23	

Total credit (from line 12) ................................................................................................................	
New York recapture amount (from line 28) .....................................................................................	
Total rehabilitation of historic properties credit (see instructions) ....................................................	
Net recapture of rehabilitation of historic properties credit (see instructions) ..................................	
Tax due before credits (see instructions) .........................................................................................	
Credits applied against the tax before this credit (see instructions) ................................................	
Net tax (subtract line 18 from line 17) ...............................................................................................	
Amount applied against this year’s tax (enter the amount from line 15 or line 19, whichever is less; see instr.).	
Unused credit (subtract line 20 from line 15)......................................................................................	
Amount of credit to be refunded (enter the amount from line 10 or line 21, whichever is less; see instr.)	
Amount of credit available for carryover to next year (subtract line 22 from line 21).........................	

13	
14	
15	
16	
17	
18	
19	
20	
21	
22	
23	

.00
.00
.00
.00
.00
.00
.00
.00
.00
.00
.00

Part 7 – Computation of credit recapture (see instructions)

24	 Federal recapture amount on New York property.........................................................................	 24		
.00
25	 Amount of federal credit on New York property originally allowed................................................	 25		
.00	

26	 Divide line 24 by line 25 (see instructions) ......................................................................................	 26		

27	 Amount of New York credit originally allowed (see instructions)......................................................	 27		
.00
28	 New York recapture amount (multiply line 26 by line 27; enter here and on line 14)..............................	 28		
.00
238002230094

Extracted from PDF file 2023-new-york-form-it-238.pdf, last modified June 2007

Download This Form

Print This Form

More about the New York Form IT-238 Individual Income Tax Tax Credit TY 2023

This form is for New York state taxpayers eligible for the Rehabilitation of Historic Properties Tax Credit.

We last updated the Claim for Rehabilitation of Historic Properties Credit in January 2024, so this is the latest version of Form IT-238, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IT-238 directly from TaxFormFinder. You can print other New York tax forms here.

eFile your New York tax return now

eFiling is easier, faster, and safer than filling out paper tax forms. File your New York and Federal tax returns online with TurboTax in minutes. FREE for simple returns, with discounts available for TaxFormFinder users!

File Now with TurboTax

Other New York Individual Income Tax Forms:

TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms.

Form Code	Form Name
Form IT-201	Individual Income Tax Return Tax Return
IT-201-V	Payment Voucher for Income Tax Returns Voucher
Form IT-201-D	Resident Itemized Deduction Schedule (DISCONTINUED)
Form IT-203	Nonresident Income Tax Return Nonresident
Form IT-201-I	Individual Income Tax Return Instructions Tax Return

Download all NY tax forms View all 272 New York Income Tax Forms

Form Sources:

New York usually releases forms for the current tax year between January and April. We last updated New York Form IT-238 from the Department of Taxation and Finance in January 2024.

Show Sources >

Form IT-238 is a New York Individual Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of New York Form IT-238

We have a total of twelve past-year versions of Form IT-238 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:

2023 Form IT-238

Form IT-238 Claim for Rehabilitation of Historic Properties Credit Tax Year 2023

2022 Form IT-238

Form IT-238 Claim for Rehabilitation of Historic Properties Credit Tax Year 2022

2021 Form IT-238

Form IT-238 Claim for Rehabilitation of Historic Properties Credit Tax Year 2021

2020 Form IT-238

Form IT-238:2020:Claim for Rehabilitation of Historic Properties Credit:it238

2019 Form IT-238

Form IT-238:2019:Claim for Rehabilitation of Historic Properties Credit:it238

2018 Form IT-238

Form IT-238:2018:Claim for Rehabilitation of Historic Properties Credit:it238

2017 Form IT-238

Form IT-238:2017:Claim for Rehabilitation of Historic Properties Credit:it238

2016 Form IT-238

Form IT-238:2016:Claim for Rehabilitation of Historic Properties Credit:it238

2015 Form IT-238

Form IT-238:2015:Claim for Rehabilitation of Historic Properties Credit:it238

2014 Form IT-238

Form IT-238:2014:Claim for Rehabilitation of Historic Properties Credit:it238

2013 Form IT-238

Form IT-238:2013:Claim for Rehabilitation of Historic Properties Credit:it238

2012 Form IT-238

Form IT-238:2012:Claim for Rehabilitation of Historic Properties Credit:it238

TaxFormFinder Disclaimer:

While we do our best to keep our list of New York Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.