Home
Forms Library
Form DTF-625-ATT: October 2002, Low-Income Housing Credit - tax ny

Form DTF-625-ATT: October 2002, Low-Income Housing Credit - tax ny-2025

Form DTF-625-ATT: October 2002, Low-Income Housing Credit - tax ny Preview on Page 1

See details

4.2 out of 5

29 votes

The document is the Annual Statement for the Low-Income Housing Credit (DTF-625-ATT) issued by the New York State Department of Taxation and Finance. It outlines the necessary calculations and information required for building owners to claim tax credits related to low-income housing, including eligible basis, qualified basis, credit percentages, and adjustments for part-year dispositions or acquisitions.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out Form DTF-625-ATT: October 2002, Low-Income Housing Credit - tax ny with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open it in the editor.
Begin by entering the building owner's name as shown on the return in section A.
Input the identification number in section B and the New York State building identification number (BIN) in section C.
For line 1, enter the eligible basis of the building. This is crucial for calculating your credit.
In line 2, determine the low-income portion by selecting the smaller of either unit percentage or floor-space percentage as per instructions.
Multiply line 1 by line 2 to find the qualified basis of low-income building and enter this value in line 3.
Continue filling out subsequent lines, ensuring to follow instructions for adjustments and calculations as specified.

Start using our platform today to complete your Form DTF-625-ATT easily and for free!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the low-income housing tax credit in Louisiana?

Program Overview The LIHTC is designed to subsidize either 30% or 70% of the costs in a low-income unit rental project. The 30% subsidy, commonly called the automatic 4% tax credit, is for new construction that includes additional subsidies or that can be used for the acquisition cost of existing buildings.

What is the form 8586 for low-income housing credit?

Use Form 8586 to claim the low-income housing credit. This general business credit is allowed for each new qualified low-income building placed in service after 1986. Generally, it is taken over a 10-year credit period.

What is the low-income housing tax credit in NY?

SLIHC provides a dollar-for-dollar reduction in state taxes to investors in qualified low-income housing which meet the requirements of Article 2-A of the Public Housing Law. The SLIHC Credit allocation is not calendar year-specific. The SLIHC program has selection criteria which are set forth in the SLIHC regulations.

What is the Nlihc renters tax credit?

States would allocate credits to developments to make housing affordable to extremely low-income families. Families in units assisted by the renters credit would pay 30% of their income for rent and utilities and the owner would receive a federal tax credit based on the rent reductions it provides.

What is the meaning of section 42?

2085 (1986 Act) created the low-income housing credit under 42 of the Code. Section 42(a) provides that the amount of the low-income housing credit for any taxable year in the credit period is an amount equal to the applicable percentage of the qualified basis of each qualified low-income building.

What is the form 3521 for low-income housing credit?

Purpose. Use form FTB 3521, Low-Income Housing Credit, if you are an owner of a residential rental project providing low‑income housing in California. Also, use form FTB 3521 to claim a credit that was: Allocated from an affiliated corporation.