Form IT-241 Claim for Clean Heating Fuel Credit Tax Year ... 2025

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The document CT-241 is a form from the Department of Taxation and Finance for claiming the Clean Heating Fuel Credit under New York Tax Law. It outlines the necessary information required from filers, including tax periods, corporation details, and computations related to bioheating fuel purchases. The form includes sections for calculating the credit amount, detailing how much credit is used or refunded, and partnership information if applicable.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the tax period at the top of the form, specifying both the beginning and ending dates.
Fill in your legal name and employer identification number (EIN) in the designated fields.
In Part 1, compute your clean heating fuel credit. Enter the purchase date, gallons of bioheating fuel eligible for credit, and the percentage of biodiesel per gallon as a decimal.
Multiply the gallons by the percentage to calculate total credits. Ensure you attach any necessary documentation.
Proceed to Part 2 to compute credits used, refunded, and overpayments. Fill in each line carefully according to instructions provided on the form.
If applicable, complete Part 3 with partnership information if you entered an amount on line 2.

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How to claim home heating credit on taxes?

File Form 5695, Residential Energy Credits Part II, with your tax return to claim the credit.

Who qualifies for the fuel tax credit form 4136?

The person that produced and sold or used a qualified mixture (a mixture of SAF and kerosene) is the only person eligible to make this claim. The credit is based on the gallons of SAF in the qualified mixture.

What IRS form do I use to claim energy tax credit?

File Form 5695, Residential Energy Credits with your tax return to claim the credit.

How to record fuel tax credits?

If your business receives fuel tax credits, you can record the amount using a journal entry. The journal entry would involve two categories: A 4-XXXX or 8-XXXX Income category which would be credited. This increases income which amounts to decreasing expense.

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