Get Ny It-250 2024-2026

This guide provides detailed instructions on how to fill out the NY IT-250 form online, which is used to claim a tax credit for the purchase of an automated external defibrillator. Whether you are an individual taxpayer or a fiduciary, this step-by-step guide will assist you in completing the form accurately.

Follow the steps to successfully complete the NY IT-250 form online.

1. Click the ‘Get Form’ button to access the NY IT-250 online form and open it for editing.
2. In the first section, enter your name(s) as they appear on your tax return, along with your identification number. If applicable, include your type of business.
3. Proceed to Schedule A. For each defibrillator purchased, fill in each line with the defibrillator name and model number, the date of purchase (in mmddyyyy format), the cost, and determine the credit amount (the lesser of the cost or maximum credit of $500).
4. If you require additional lines for more defibrillators, submit extra IT-250 forms and ensure to total the amounts from those forms on the designated line.
5. Calculate the total credit in column E, adding any amounts reported on line 1 from additional forms. Provide this total on line 2, and if you are a fiduciary, note the total on Schedule D; otherwise, enter it on Schedule E, line 7.
6. If applicable, move to Schedule B and provide information about any partnerships, S corporations, or estates and trusts from which you received a share of the credit. Complete with names, types, and identification numbers.
7. In Schedule C, enter your credit distribution based on your partnership shares or S corporation shares, ensuring to total these amounts on line 6 for further calculation.
8. Complete Schedule D by entering the beneficiary name, identifying number, and the share of the automated external defibrillator credit.
9. For Schedule E, consolidate the entries from Schedule A, C, and D to calculate the total credit on line 10. The resulting figure will help establish your net tax obligations on subsequent lines.
10. Once all sections of the form are completed accurately, you can save changes, download, print, or share the completed form as needed.

Make sure to complete and submit your NY IT-250 form online to claim your tax credit promptly.