IT-611: Claim for Brownfield Redevelopment Tax Credit - For Qualified Sites Accepted into the Brownfield Cleanup Program Prior to June 23, 2008 (2024)
New York · NY DTF · Used for tax years 2024
Form IT-611 claims the New York brownfield redevelopment tax credit for qualified sites accepted into the Brownfield Cleanup Program before June 23, 2008, that received a Certificate of Completion by December 31, 2017. It reports site information and credit components for site pr
Who files this form
Use the 2024 Form IT-611 to claim the brownfield redevelopment tax credit for a qualified site if both conditions apply:
- The Department of Environmental Conservation (DEC) accepted the site into the Brownfield Cleanup Program before June 23, 2008.
- The site received a Certificate of Completion (COC) by December 31, 2017.
A separate Form IT-611 must be filed for each COC. The form also includes entries for partners, New York S corporation shareholders, and estate or trust beneficiaries who receive a share of the credit.
What you'll need
Have the following documents and information ready, as applicable:
- A copy of the COC: You must submit it with the form. Use its site name, location, municipality, county, DEC region, Division of Environmental Remediation site number, and issue date to complete Schedule A.
- Sale or transfer documentation: If the COC was transferred as part of a sale or transfer of the qualified site, submit a copy of that documentation and enter the transfer date.
- Brownfield Cleanup Agreement information: Enter the agreement's execution date.
- Cost and property details: Schedule B asks for descriptions, dates paid or incurred, and amounts for site preparation and on-site groundwater remediation costs. For tangible property, it asks for each item's description, principal use, date placed in service, life, and cost or other basis.
- Credit-sharing information: If you received a share of the credit, have the entity's name, type, employer identification number, and your credit component amounts available.
- Recapture information, if applicable: Schedule F asks for property-use dates, property life, and previously allowed credit amounts.
How to file
Submit Form IT-611 with Form IT-201, IT-203, IT-204, or IT-205. File a separate IT-611 for each COC.
Attach a copy of the COC and, if applicable, the sale or transfer documentation.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Using the wrong credit form: Do not use IT-611 if the site was accepted before June 23, 2008, but received its COC after December 31, 2017. Use IT-611.2 instead. For sites accepted on or after June 23, 2008, and before July 1, 2015, use IT-611.1. For sites accepted on or after July 1, 2015, use IT-611.2.
- Combining COCs on one form: File a separate IT-611 for each COC.
- Leaving out required attachments: Submit a copy of the COC and any applicable sale or transfer documentation.
- Combining tangible property items: List each item separately in Schedule B, Part 2.
Questions people ask
What credit components does this form cover?
Schedule B covers site preparation, tangible property, and on-site groundwater remediation. Add the three component totals on line 25.
What if the site is in an environmental zone?
Answer Yes to question E. On line F, enter the percentage of the qualified site within the environmental zone as a decimal rounded to four places.
What if I received the credit through another entity?
Complete Schedule C for each partnership, New York S corporation, estate, or trust from which you received a share. Enter the entity's name, type, and employer identification number. The type codes are P for partnership, S for S corporation, and ET for estate or trust.
Does the form address repayment of previously allowed credits?
Yes. Schedule F covers recapture when tangible property ceases to be in qualified use and when a COC is revoked. Schedule G summarizes the recapture amounts.