IT-228: Contributions to Certain Funds Credit (2024)
New York · NY DTF · Used for tax years 2024
New York Form IT-228 calculates the Contributions to Certain Funds Credit for contributions to the specific funds and organizations listed on the form. It reports contributions, a partner’s or beneficiary’s share of contributions, and the credit available to use for the current t
Who files this form
Use Form IT-228 to claim the Contributions to Certain Funds Credit with Form IT-201 or IT-203. The credit covers only contributions to the funds and organizations listed on the form:
- The health charitable account.
- The elementary and secondary education charitable account.
- Health Research Inc.
- State University of New York Impact Foundation.
- Research Foundation of the City University of New York.
If you are a partner in a partnership or a beneficiary of an estate or trust and received a share of the credit from that entity, complete Schedule C.
What you'll need
Have the following information ready:
- Your name and identifying number as shown on your return.
- Contribution amounts for the accounts listed in Schedule A, made in the previous tax year.
- Certificates of receipt from the organizations listed in Schedule B, including their tax receipt numbers for Schedule E.
- If you received a share of the credit from a partnership, estate, or trust: the entity's name, type, EIN, and your share of contributions.
- Your tax due before credits and the amount of credits applied before this credit, for Schedule D.
The form directs you to report the credit used on Form IT-201-ATT or IT-203-ATT.
How to file
Submit Form IT-228 with Form IT-201 or IT-203.
- Complete the applicable contribution schedules. Use Schedule A for listed contributions made in the previous tax year and Schedule B for listed contributions made in the current tax year.
- Complete Schedule C if you received a share of the credit from a partnership, estate, or trust. Enter
Pfor a partnership orETfor an estate or trust. - Calculate the credit in Schedule D and enter tax receipt numbers for Schedule B contributions in Schedule E.
- Enter the amount from line 18 and code
228on Form IT-201-ATT, line 2, or Form IT-203-ATT, line 3.
If you have more than three certificates of receipt from any one organization listed in Schedule E, attach additional sheets and mark an X in the box provided.
Common mistakes
- Claiming contributions to other funds. The credit is only for the specific funds listed on lines 1, 2, 5, 6, and 7. Claims for contributions to other funds will be denied and may delay processing of your return.
- Leaving out tax receipt numbers. Failure to include a tax receipt number in Schedule E may delay or disqualify your credit.
- Omitting extra receipt sheets. If you have more than three certificates of receipt from any organization listed in Schedule E, attach additional sheets and mark an X in the box provided.
Questions people ask
How is the credit calculated?
Schedule D multiplies total contributions on line 12 by 85% to calculate the total credit on line 14.
Can I use the full calculated credit for the current tax year?
Line 18 limits the credit used to the smaller of your total credit on line 14 or your net tax on line 17. Net tax is tax due before credits minus the credits applied before this credit, with a minimum of zero.
When are contributions eligible for the credit?
Schedule A allows the credit for the tax year after contributions were made. Schedule B allows the credit for the tax year contributions were made.
Where do I report my share of contributions from a partnership, estate, or trust?
Complete Schedule C for each entity. Transfer the total from column D to line 3 and the total from column E to line 8.
Where do I enter tax receipt numbers?
Enter Schedule B tax receipt numbers in Schedule E: lines 19a through 19c for Health Research Inc., lines 20a through 20c for State University of New York Impact Foundation, and lines 21a through 21c for Research Foundation of the City University of New York.