DTF-625-ATT: Low-Income Housing Credit Annual Statement (2024)
New York · NY DTF · Used for tax years 2024
Form DTF-625-ATT is New York’s Low-Income Housing Credit Annual Statement. It reports a building’s compliance information and calculates the credit for the building and the taxpayer’s share. It is filed with the building owner’s New York State income tax or franchise tax return.
Who files this form
Form DTF-625-ATT is the Low-Income Housing Credit Annual Statement. The form directs you to file it with the building owner’s New York State income tax or franchise tax return.
If you are claiming the credit as a transferee, mark the transferee box and enter the SLIHC tracking ID.
What you'll need
- Form DTF-625: Part 1 asks whether you have the original, or a copy of the original, signed and issued by the housing credit agency. You also need its New York State building identification number (BIN) and the amount in Part 1, line 1b.
- Building and credit information: The form asks for the building’s eligible basis, low-income portion, credit percentage, and any applicable adjustments.
- Owner information: Enter the building owner’s name as shown on the return and taxpayer identification number.
- SLIHC tracking ID: Required if you are claiming the credit as a transferee.
- Form DTF-624: Include the credit from this statement’s line 19 on Form DTF-624, Part 1, line 3.
How to file
File Form DTF-625-ATT with the building owner’s New York State income tax or franchise tax return.
Complete Part 1’s compliance questions before completing Part 2’s credit calculation. Follow the stop directions in Part 1. Include the credit from line 19 on Form DTF-624, Part 1, line 3.
The form refers you to Form DTF-625-ATT-I for help completing it. The supplied text does not give a mailing address or e-filing directions.
Common mistakes
- Continuing after a “No” on line C or D: Stop and do not complete Part 2 if either answer is No.
- Ignoring line E’s directions: If qualified basis decreased, see the instructions. If it did not decrease and the entire credit was claimed in prior tax years, stop and do not complete Part 2.
- Exceeding the line 16 limit: Do not enter more than the amount on Form DTF-625, Part 1, line 1b.
- Missing the rounding directions: Round the credit percentage decimals on lines 5 and 9 to the fourth decimal place.
- Leaving out transferee information: If claiming as a transferee, mark the box and enter the SLIHC tracking ID.
Questions people ask
Where do I find the building identification number?
Enter the New York State building identification number (BIN) from Form DTF-625 on line A.
What if I do not have the signed Form DTF-625 in my records?
Line C asks whether you have the original, or a copy of the original, signed and issued by the housing credit agency. If you answer No, stop and do not complete Part 2. The form directs you to see the instructions.
How is the low-income portion determined?
Line 2 uses the smaller of the unit fraction or the floor-space fraction.
Is there a limit on the credit entered on line 16?
Yes. Subtract line 15 from line 14, but do not enter more than the amount shown on Form DTF-625, Part 1, line 1b.
Where do I report the credit from this statement?
Add lines 17 and 18 and enter the total on line 19. Include that amount on Form DTF-624, Part 1, line 3.