Form IT-256 Claim for Special Additional Mortgage 2026

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The document IT-256 is a form from the Department of Taxation and Finance for claiming the Special Additional Mortgage Recording Tax Credit under New York Tax Law. It outlines the necessary information required from individuals, partnerships, and fiduciaries to report properties, mortgage details, and calculate the credit available for the current tax year. The form includes sections for entering property information, partnership or estate trust details, and computations related to the credit used or carried forward.

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Click ‘Get Form’ to open it in the editor.
Begin with Part 1, where you will enter the total number of properties included in your claim. Use a separate line for each property and submit additional forms if necessary.
Fill in the property address, date the mortgage was recorded, amount of the mortgage, and the amount of special additional mortgage recording tax paid for each property listed.
In Part 2, provide information about any partnerships or estates you are involved with. Enter the type (P for partnership or ET for estate/trust) along with their employer identification numbers.
Complete Part 3 by entering your share of the credit from partnerships or estates. Add these amounts together in Part 5 to compute your total credit available for the current tax year.
Finally, review all sections carefully before submitting your completed form along with Form IT-201, IT-203, IT-204, or IT-205.

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See more Form IT-256 Claim for Special Additional Mortgage versions

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Versions	Form popularity	Fillable & printable
2025	4.1 Satisfied (41 Votes)
2024	4.8 Satisfied (31 Votes)
2023	4.7 Satisfied (26 Votes)
2022	4.3 Satisfied (54 Votes)
2021	4.8 Satisfied (30 Votes)
2020	4.3 Satisfied (290 Votes)

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How does mortgage recording tax work?

The mortgage recording tax is a fee for the registration and recording of the mortgaging and transfer of ownership of your property. Depending on your propertys location, this fee may include city, county, and state fees. This is determined based on the mortgage you secured to purchase the property.

How to reduce mortgage recording tax?

Consider applying for a Consolidation, Extension, and Modification Agreement loan (CEMA). This will drastically reduce your mortgage recording tax liability, particularly for commercial real estate. Note that this method should only be used if your current interest rate is higher than the going rate.

What is the NYS special additional mortgage recording tax?

special additional tax of 25 cents per $100 of mortgage debt or obligation secured.

What is the tax form for mortgage deductions?

Using the 1098, calculate how much of your mortgage interest qualifies for the deduction. Then, report the deduction on your tax return on Form 1040 (Schedule A) Line 8a the deductible amount reported in Box 1, deductible mortgage interest, and Box 6, points.

Are mortgage closing costs tax deductible?

You can only deduct closing costs for a mortgage refinance if the costs are considered mortgage interest or real estate taxes. You closing costs are not tax deductible if they are fees for services, like title insurance and appraisals.

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Is a mortgage a tax deductible expense?

In most cases, you can deduct all of your home mortgage interest. How much you can deduct depends on the date of the mortgage, the amount of the mortgage, and how you use the mortgage proceeds.

Which states have mortgage recording tax?

Mortgage Tax States means, collectively, Alabama, Florida, Kansas, Georgia, Minnesota, New York, Oklahoma, Tennessee, Virginia and any other State in which an Individual Property or any Substitute Property may be located which imposes a mortgage recording or other mortgage tax.

Is mortgage recording tax deductible?

Unlike mortgage interest, property taxes, or other deductions available to homeowners, MRT is considered a transactional expense and does not qualify as a personal tax deduction. The IRS does not allow taxpayers to deduct the cost of MRT when it is associated with purchasing or refinancing a primary residence.

Form IT-256 Claim for Special Additional Mortgage 2026

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