IT-649: Farm Donations to Pantries Credit (2024)
New York · NY DTF · Used for tax years 2024
New York Form IT-649 calculates the Farm Donations to Food Pantries Credit. It reports qualified donations and their fair market value, shares of credit received from other entities, and credit allocated between beneficiaries and fiduciaries.
Who files this form
Form IT-649 is used to claim the Farm Donations to Food Pantries Credit. The form covers:
- Individuals (sole proprietors), partnerships, and fiduciaries of estates or trusts that earned the credit.
- Partners, shareholders of New York S corporations, and beneficiaries of estates or trusts who received a share of the credit.
For Form IT-201 and IT-203 filers, the percentage on Worksheet A, line 24, must be at least 0.6667 (66.67%). If it is not, the form says you do not qualify. Form IT-205 filers are directed to the line B instructions.
What you'll need
Have the information needed for the parts of the form that apply to you:
- Your name and identifying number as shown on your return.
- The farm’s name, employer identification number (EIN), and physical address, if completing line C.
- For each qualified donation: the date, city and state, eligible food pantry’s name and EIN, and the donation’s fair market value.
- For a credit received from another entity: the entity’s name, type, EIN, and your share of the credit.
- For fiduciary allocations: each beneficiary’s name as shown on Form IT-205, Schedule C, identifying number, and share of the credit.
To complete line B, Form IT-201 and IT-203 filers need Worksheet A from the instructions. Form IT-205 filers need Worksheet B.
How to file
Submit Form IT-649 with Form IT-201, IT-203, IT-204, or IT-205.
All filers must complete line A to show whether they earned the credit directly or received a share from another entity. Follow the form’s directions for the applicable lines and schedules, then compute the total credit in Schedule D.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Leaving line A blank: All filers must complete it.
- Continuing after a disqualifying answer on line B: Form IT-201 and IT-203 filers who answer No must stop because they do not qualify. Form IT-205 filers must see the line B instructions.
- Leaving donation details incomplete: Schedule A requires columns A through E for each qualified donation.
- Submitting IT-649 by itself: The form says to submit it with Form IT-201, IT-203, IT-204, or IT-205.
Questions people ask
How is the credit for qualified donations calculated?
In Schedule A, add the fair market values of qualified donations, multiply the total by 25%, and enter the smaller of that result or $5,000 on line 3.
Where do I report a credit passed through to me?
Use Schedule B for a share received from a partnership, New York S corporation, or estate or trust. Enter each entity’s name, type, EIN, and your share of the credit.
How does a fiduciary divide the credit?
Schedule C adds lines 3 and 4 to get the total on line 5. Subtract the share allocated to beneficiaries on line 6 to determine the fiduciary’s share on line 7. Enter that share on line 10 as well.
Where do I find the total credit?
Schedule D, line 11, totals the amounts on lines 8, 9, and 10.