IT-256: Claim for Special Additional Mortgage Recording Tax Credit (2025)
New York · NY DTF · Used for tax years 2025
Form IT-256 claims New York’s special additional mortgage recording tax credit. It reports qualifying tax paid, credit shares from partnerships, estates, or trusts, and unused credits from prior periods, and calculates the credit used, refunded, or carried forward.
Who files this form
Form IT-256 is used to claim the special additional mortgage recording tax credit. The form includes sections for:
- Individuals, including sole proprietors.
- Partnerships.
- Fiduciaries of estates or trusts.
- Partners and beneficiaries who received a share of the credit from a partnership, estate, or trust.
It also includes a line for unused credit from preceding periods.
What you'll need
Have the information needed to complete the form:
- Your name as shown on your return and taxpayer identification number.
- Your tax period beginning and ending dates, if you file on a fiscal-year basis.
- The total number of properties included in the claim.
- Each property's address, mortgage recording date, mortgage amount, and special additional mortgage recording tax paid.
- For credit received from a partnership, estate, or trust: the entity's name, type, employer identification number, and your share of the credit.
- Any unused credit from preceding periods, tax due before credits, and credits applied before this credit.
Fiduciaries also need beneficiary names as shown on Form IT-205, Schedule C, identifying numbers, and credit shares.
How to file
Submit Form IT-256 with Form IT-201, IT-203, IT-204, or IT-205.
Use a separate line for each property. If you need more lines, submit additional Forms IT-256 and include their column D totals on line 1. Line 1 also allows totals from spreadsheets.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Do not combine multiple properties on one property line. Use a separate line for each property.
- Include amounts from additional forms or spreadsheets on line 1, and include line 1 when calculating line 2.
- In Part 2, use P for a partnership or ET for an estate or trust.
- Fiduciaries must include the line 2 amount and any line 5 amount in the Total line of Part 4, column C. Fiduciaries must not enter an amount on line 7.
- Submit IT-256 with one of the returns listed on the form: IT-201, IT-203, IT-204, or IT-205.
Questions people ask
Can I include more than one property?
Yes. Use a separate line for each property and enter the total number of properties on line A. If you need more lines, submit additional Forms IT-256 and enter their column D totals on line 1.
Where do I report credit received from a partnership, estate, or trust?
List each entity in Part 2. Enter your partnership credit share on line 3 and your estate or trust credit share on line 4. Add them on line 5. Fiduciaries include line 5 in the Part 4 total; all others enter it on line 7.
Where do I enter unused credit from earlier periods?
Enter it on line 10. Line 11 adds that amount to the current-year credit on line 9.
How does the form calculate credit used, refunded, or carried forward?
Line 15 uses the smaller of total available credit on line 11 or net tax on line 14. Line 16 calculates unused credit. Line 17 limits the amount available for refund to the smaller of line 9 or line 16. Line 18 asks how much of line 17 you want refunded and refers you to the instructions. Line 19 subtracts line 18 from line 16 to calculate the carryforward.