IT-238: Claim for Rehabilitation of Historic Properties Credit (2025)
New York · NY DTF · Used for tax years 2025
Form IT-238 is used to claim New York’s rehabilitation of historic properties credit. It reports historic property information, qualified rehabilitation expenditures, and credits earned or received through another entity, and calculates credit use, refunds, carryovers, and any re
Who files this form
Form IT-238 is used to claim the rehabilitation of historic properties credit. The form covers:
- Individuals, including sole proprietors, partnerships, and estates or trusts that earned the credit.
- Partners, New York S corporation shareholders, and estate or trust beneficiaries receiving a share of the credit or credit recapture.
Do not use IT-238 to claim the historic homeownership rehabilitation credit.
What you'll need
Have the information needed for the parts that apply to you:
- Your name and identifying number as shown on your tax return.
- For property you rehabilitated: the certified historic structure’s address, property type, project number, completion date, and qualified rehabilitation expenditures.
- For a passed-through credit or recapture: the entity’s name, type, project number, employer identification number, and your share of the credit.
- For a fiduciary allocation: beneficiaries’ names as shown on Form IT-205, Schedule C, identifying numbers, and credit shares.
- Last year’s Form IT-238 if you have a credit carryover.
- If recapture applies: the federal recapture amount and the federal and New York credits originally allowed for the New York property.
How to file
Submit Form IT-238 with Form IT-201, IT-203, IT-204, or IT-205. The supplied form does not give a mailing address or e-filing directions.
All filers must complete line A. Then complete the parts that apply:
- Individual or sole proprietor who earned the credit: Parts 1, 5, and 6, plus Part 7 if applicable.
- Partnership that earned the credit: Parts 1 and 5.
- Fiduciary of an estate or trust that earned the credit: Parts 1, 4, 5, and 6, plus Part 7 if applicable.
- Recipient of a passed-through credit: Parts 2, 3, 5, and 6, plus Part 7 if applicable. Fiduciaries also complete Part 4.
Common mistakes
- Using the wrong credit form: IT-238 is not for the historic homeownership rehabilitation credit.
- Skipping line A: The form says all filers must complete it.
- Leaving out additional property calculations: Schedule B, line 1 includes column D totals from additional Forms IT-238, and line 2 includes that amount.
- Putting fiduciary credit amounts in the wrong place: Fiduciaries include the amounts from lines 2 and 6 on the Total line of Part 4, column C. Other filers follow the directions to carry those amounts to lines 7 and 8.
Questions people ask
Can I use IT-238 for the historic homeownership rehabilitation credit?
No. The form specifically says not to use IT-238 for that credit.
What information do I enter for a passed-through credit?
Part 2 asks for each entity’s name, type, project number, and employer identification number. Use P for a partnership, S for a New York S corporation, or ET for an estate or trust. Enter your credit shares in Part 3.
Where do I report a credit carried over from last year?
Enter the carryover credit from last year’s Form IT-238 on line 11. Line 12 adds that carryover to your current-year credit.
Where is credit recapture calculated?
Part 7 calculates credit recapture. Enter the New York recapture amount from line 28 on line 14 as well.