DTF-624: Claim for Low-Income Housing Credit (2025)
New York · NY DTF · Used for tax years 2025
Form DTF-624 is used to claim New York’s low-income housing credit. It reports current-year credits, carryovers, credits received through transfers or other entities, and allocations to beneficiaries, partners, or shareholders. It also calculates the credit used and the amount ca
Who files this form
Form DTF-624 is used to claim the New York low-income housing credit. The form provides directions for individuals, partnerships, fiduciaries, New York S corporations, C corporations, and corporate partners.
It also covers partners, New York S corporation shareholders, and estate or trust beneficiaries who receive a share of the credit, as well as transferees who receive transferred credits.
Complete every part that applies to you on one Form DTF-624.
What you'll need
Have the following available, as applicable:
- Your name and taxpayer identification number as shown on your tax return.
- Forms DTF-625-ATT for the current-year credit reported on line 3.
- Your credit carryover amount for line 4.
- Forms DTF-626 for recapture reported on line 10.
- Building identification numbers (BINs).
- For credits received from an entity or transferor: its name, entity type, taxpayer identification number, building BIN, and the credit amount.
- Your SLIHC tracking ID if you are claiming the credit as a transferee.
- Beneficiary, partner, or shareholder names, taxpayer identification numbers, BINs, and credit shares when completing Parts 3 or 4.
- Tax and other-credit amounts from your return for the applicable credit calculation.
How to file
File Form DTF-624 with your applicable return: Form CT-3, CT-3-A, CT-3-S, CT-33, CT-33-A, CT-33-NL, IT-201, IT-203, IT-204, or IT-205.
Follow the directions for your filer type:
- Individuals: Complete Part 6.
- Partnerships: Enter the line 8 amount and code 624 on Form IT-204, line 147. Complete Part 4 if applicable.
- Fiduciaries: Complete Parts 3 and 6.
- Partners, New York S corporation shareholders, and estate or trust beneficiaries: Complete Parts 5 and 6. Corporate partners use Part 2 to calculate the credit for their franchise tax return.
- New York S corporations: Enter the line 8 amount on the appropriate line of Form CT-34-SH. Complete Part 4 if applicable.
- C corporations, including corporate partners: Complete Part 2.
- Transferees: Complete Part 5 and the other parts required for your entity type.
The supplied form does not provide a mailing address or e-filing directions.
Common mistakes
- Completing only one applicable part: The form says to complete all appropriate parts on one Form DTF-624 when more than one applies.
- Completing Part 2 as a New York S corporation: The form expressly says New York S corporations do not complete this part.
- Skipping Part 4 for multiple buildings: A partnership or New York S corporation whose line 3 credit is attributable to more than one building must complete Part 4.
- Using the wrong flow-through schedule: Use Schedule 5b if the entity received the credit as a transferee. Use Schedule 5c if it did not.
- Missing claimant details: Corporate partners must mark box A. Transferees must mark box B and enter the SLIHC tracking ID.
Questions people ask
What if a building's qualified basis decreased?
Answer Yes on line 2 if any building's qualified basis decreased since the close of the preceding tax year. Enter the affected building's BIN. Use a separate schedule if you need more space.
Where do I report a credit transferred directly to me?
Complete Part 5, Schedule 5a with the transferor information and transferred credit amount. Enter the schedule total on line 5a.
Where is the credit carryover calculated?
For Article 9-A and Article 33 corporations, Part 2 calculates the carryforward on line 18 by subtracting line 17 from line 11. For Article 22 filers, Part 6 calculates the carryover to next year on line 23 by subtracting line 22 from line 8.
How do fiduciaries report credit allocated to beneficiaries?
Part 3 records each beneficiary's name, taxpayer identification number, building BIN, and share of credit. The fiduciary enters the credit allocated to beneficiaries on line 7.