CT-238: Claim for Rehabilitation of Historic Properties Credit (2025)
New York · NY DTF · Used for tax years 2025
Form CT-238 is used by corporations to claim New York’s rehabilitation of historic properties credit. It reports certified historic structure information, credit amounts earned or allocated from partnerships, and applicable credit use, refunds, carryforwards, and recapture.
Who files this form
Form CT-238 is for corporations claiming the rehabilitation of historic properties credit. The form covers C corporations and New York S corporations, including corporate partners receiving a share of the credit from a partnership.
File it with Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, or CT-33-NL.
What you'll need
Have the information needed for the parts that apply to your claim:
- Your corporation’s legal name, employer identification number (EIN), and tax period beginning and ending dates.
- For each certified historic structure: its address, project number, completion date, and qualified rehabilitation expenditures.
- Any unused rehabilitation credit carried over from previous tax years.
- For partnership credits: the partnership’s name, EIN, project number, and credit amount allocated to you.
- For Part 2: tax due before credits and tax credits claimed before this credit.
- For recapture: the federal recapture amount on New York property and the federal and New York credit amounts originally allowed.
How to file
File Form CT-238 with Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, or CT-33-NL. The supplied form does not give a mailing address or e-file directions.
All filers must complete line A to indicate whether the corporation earned the credit itself or received a share as a corporate partner.
C corporations
- If you answer Yes, complete Parts 1 and 2, plus Part 3 if applicable.
- If you answer No and are claiming as a corporate partner, complete Part 1, lines 2 through 7, and Parts 2 and 4, plus Part 3 if applicable.
New York S corporations
- If you answer Yes, complete Part 1, lines 1 through 6.
- If you answer No and are claiming as a corporate partner, complete Part 1, lines 2 through 6, and Part 4.
Common mistakes
- Do not leave the tax period blank. All filers must enter beginning and ending dates.
- Do not skip line A. The form requires every filer to complete it.
- New York S corporations must not complete Part 2.
- On line 12, enter 0 if line 11 is greater than line 10.
- On line 21, carry the division result to four decimal places.
- Enter any line 16 refund amount and line 17 overpayment amount on your franchise tax return as directed.
Questions people ask
Where do I report a credit received from a partnership?
Complete Part 4 with the partnership’s name, EIN, project number, and allocated credit. Enter the total on line 24 and on line 2.
Where do I report unused credit from earlier tax years?
Enter unused rehabilitation of historic properties credit carried over from previous tax years on line 4.
Does the form provide for a refund or an overpayment to next year’s tax?
Yes. In Part 2, line 15 is the lesser of line 3 or line 14. Line 16 is the amount to be refunded, limited to line 15. Line 17 is line 15 minus line 16 and is applied as an overpayment to next year’s tax. New York S corporations do not complete Part 2.
Where is credit recapture calculated?
Part 3 calculates recapture using the federal recapture amount and the federal and New York credits originally allowed. Enter the resulting New York recapture amount on line 23 and line 6.