Form IT-641 Manufacturer's Real Property Tax Credit Tax Year ... 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by marking the appropriate box for calendar-year filers or entering your tax period. Ensure that your name and identifying number are correctly filled as shown on your return.
3. Complete line A to indicate if you are claiming the credit as an individual, partnership, or fiduciary. Depending on your selection, follow the instructions to complete the relevant schedules (A, B, C, D, E).
4. For Schedule A, enter the physical address of the real property and eligible real property taxes paid. Sum up all amounts in column B and calculate your tax credit by multiplying total eligible taxes by the tax credit rate.
5. If applicable, fill out Schedule B for partners or shareholders detailing their share of credit and recapture. Similarly, complete Schedule C for fiduciaries.
6. Finally, compute any credit recapture in Schedule E and ensure all totals are accurately entered before submitting with your main tax form.

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