IT-237: Claim for Historic Homeownership Rehabilitation Credit (2025)
New York · NY DTF · Used for tax years 2025
Form IT-237 is used to claim New York’s Historic Homeownership Rehabilitation Credit. It reports property information and qualified rehabilitation expenditures, calculates the credit and any carryover, and accounts for any credit recapture.
Who files this form
Use Form IT-237 to claim the New York historic homeownership rehabilitation credit. Submit it with Form IT-201 or IT-203.
The form also includes sections for a credit carried over from last year and for recapture of credit. The supplied text does not explain eligibility requirements or when recapture is required.
What you'll need
Have these documents and details ready:
- The Certificate of Completion for each property. Schedule A asks for the property address, project number, and date of final certification or purchase.
- Your qualified rehabilitation expenditure amounts for each property.
- Your name and Social Security number, plus your spouse’s information where applicable.
- Last year’s Form IT-237 if you are claiming a carryover. Line 5 uses the amount from last year’s line 14.
- Your tax due before credits and the amounts of other credits applied before this credit, for Part 2.
How to file
Submit Form IT-237 with Form IT-201 or IT-203.
Enter property information from each Certificate of Completion in Schedule A. Calculate the credit in Schedule B, then complete Part 2 to calculate the credit applied and any carryover. Part 3 is for recapture, if required.
The form refers to instructions for several calculations and for determining whether Part 3 is required. Those instructions were not supplied. The supplied form does not give a mailing address or e-file directions.
Common mistakes
- Do not submit Form IT-237 by itself. The form says to submit it with Form IT-201 or IT-203.
- Use the Certificate of Completion for each property when entering Schedule A information.
- Column D in Schedule B is for the spouse’s share for married taxpayers filing jointly only.
- Follow the line 8 directions carefully: if line 7 is less than line 6, subtract line 7 from line 6, leave line 9 blank, and continue to Part 2. If line 7 is more than line 6, leave line 8 blank and go to line 9.
Questions people ask
How does the form start calculating the credit?
Schedule B multiplies qualified rehabilitation expenditures by 20%. Column C then uses the lesser of that result or $25,000 for each property. The form directs married filers to the instructions and shows a $25,000 credit limitation per taxpayer on line 2.
Where do I enter a credit carried over from last year?
Enter the amount from last year’s Form IT-237, line 14, on this year’s line 5.
How does the form calculate the carryover to next year?
Line 13 takes the lesser of line 8 or line 12. Line 14 subtracts line 13 from line 8 to calculate the amount available to carry over to next year.
Where is recapture reported?
Part 3 calculates recapture. The amount on line 15 also goes on line 7. The form says to consult the instructions to determine whether Part 3 is required, but those instructions were not supplied.