Form It 214 – Fill Out and Use This PDF

The IT-214 form, as defined by the Department of Taxation and Finance, is a mechanism for homeowners and renters in New York State to claim a real property tax credit. This form is governed by Tax Law – Section 606(e) and requires individuals to provide identifying information, determine eligibility based on residency, property value, and income criteria, before calculating the credit amount. If you believe you're eligible for this credit, don't hesitate to explore this opportunity further and consider filling out the form by clicking the button below.

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Form It 214 PDF Details

Navigating the waters of tax credits can feel like deciphering an ancient map for many homeowners and renters. A beacon in this complex journey is the IT-214 form, a crucial instrument provided by the Department of Taxation and Finance for those residing in the New York State. This form stands as a claim for a real property tax credit, a financial relief designed to cushion the tax burden on eligible residents. The IT-214 form breaks down into multiple steps, starting with the entering of personal identifying information, which includes basics such as your names, social security numbers, and addresses. It then guides you through determining your eligibility based on factors like residency status, property ownership, dependents, and income levels. Interestingly, it differentiates between homeowners and renters, each path leading to potential tax relief if navigated correctly. Eligibility criteria hinge on residency duration, property value, the ability to be claimed as a dependent, and more. For qualifying residents, the form delves into computing household gross income and determining the actual credit amount, taking into account the rent paid by renters or real property taxes paid by homeowners. The nuanced sections of the form, such as allowances for special assessments and exemptions for seniors, point to a tailored approach in addressing the diverse financial situations of New Yorkers. Completing the IT-214 form might seem daunting at first, but it's a journey well worth embarking on for the financial reprieve it promises to bring to qualified homeowners and renters.

Question	Answer
Form Name	Form It 214
Form Length	3 pages
Fillable?	Yes
Fillable fields	106
Avg. time to fill out	22 min 1 sec
Other names	it 214 2020, it 214 form 2020 printable, it 214 form pdf, new york it 214

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Department of Taxation and Finance

Claim for Real Property Tax Credit

For Homeowners and Renters

Tax Law – Section 606(e)

Step 1 – Enter identifying information

IT-214

Your first name	MI	Your last name (for a joint claim, enter spouse’s name on line below)				Your date of birth (mmddyyyy)		Your Social Security number

Spouse’s first name	MI	Spouse’s last name				Spouse’s date of birth (mmddyyyy)		Spouse’s Social Security number

Current mailing address (number and street or PO box)							Apartment number	New York State county of residence

City, village, or post office			State	ZIP code	Country (if not United States)

Street address of New York residence that qualifies you for this credit, if different from above							Apartment number	You must enter date(s) of birth
								and Social Security number(s)
								above.
City, village, or rural route			State		ZIP code

Step 2 – Determine eligibility (For lines 1 through 6, mark an X in the appropriate box.)

1 Were you a New York State resident for all of 2020?..................................................................................

2Did you occupy the same residence for at least six months during 2020?..................................................

If you marked an X in the No box on line 1 or 2, stop; you do not qualify for this credit.

3 Did you own real property with a current market value of more than $85,000 during 2020? ......................

4 Can you be claimed as a dependent on another taxpayer’s 2020 federal return?......................................

5Did you reside in public housing, or other residence completely exempted from real property taxes in 2020? (see instr.) If you marked an X in the Yes box on line 3, 4, or 5, stop; you do not qualify for this credit.

6 Did you live in a nursing home during 2020? (If you mark an X in the Yes box, see instructions.) ......................

7Complete below for the qualifying household member 65 or older (see instructions).

Yes

A – First name

Last name

B – Social Security number

C – Date of birth

(mmddyyyy)

8Complete below for all household members not included on line 7 (submit additional sheets if needed; see instructions).

A – First name

Last name

B – Social Security number

C – Date of birth

(mmddyyyy)

214001200094

For office use only

Page 2 of 3 IT-214 (2020)

Step 3 – Determine household gross income

Enter the total of all amounts, even if not taxable, that you, your spouse (if married), and all other household members received during 2020.

9	Federal adjusted gross income (see instructions)	9	.00
10	New York State additions to federal adjusted gross income	10	.00
11	Social Security payments not included on line 9	11	.00
12	Supplemental Security Income (SSI) payments	12	.00
13	Pensions and annuities (including railroad retirement benefits) not included on lines 9 through 12	13	.00
14	Cash public assistance and relief	14	.00
15	Other income	15	.00
16	Household gross income (add lines 9 through 15; see instructions)	16	.00
	If line 16 is more than $18,000, stop; you do not qualify for this credit.
17	Enter rate from Table 1 (see instructions)	17

18 Multiply line 16 by line 17 ...........................................................................................................................

.00

Step 4 – Compute real property tax

Renters	19	Enter the total amount of rent you and all members of your household paid
Renters	19					.00
only		during 2020. (Do not include any subsidized part of your rental charge.)			19	.00
only	20	Adjusted rent – If line 19 includes charges for:	Enter on line 20
	20	Adjusted rent – If line 19 includes charges for:	Enter on line 20
		heat, gas, electricity, furnishings, and board	50%	(.5) of line 19
		heat, gas, electricity, and furnishings	75%	(.75) of line 19
		heat, gas, and electricity	80%	(.8) of line 19
		heat or heat and gas	85%	(.85) of line 19
		heat or heat and gas	85%	(.85) of line 19		.00
		none of the above	100% of line 19		20	.00
		Average monthly adjusted rent (divide line 20 by the number of months you paid rent)
	21				21	.00
		If line 21 is more than $450, stop; you do not qualify for this credit.

	22	Multiply line 20 by 25% (.25); enter here and on line 28	..................................................		22	.00

Homeowners
Homeowners	23	Real property taxes paid during 2020 (see instructions)			23	.00
only	23	Real property taxes paid during 2020 (see instructions)			23	.00
only	24	Special assessments			24	.00
	24	Special assessments			24	.00
	25	Add lines 23 and 24			25	.00
	26	Exemption for homeowners 65 and over (optional - see instructions)			26	.00
	27	Add lines 25 and 26; enter here and on line 28			27	.00

214002200094

Your Social Security number

IT-214 (2020) Page 3 of 3

Step 5 – Compute credit amount
28	Renters: Enter amount from line 22. Homeowners: Enter amount from line 27 (see instructions)	28
	If line 28 is zero or less, stop; no credit is allowed.
29	Enter amount from line 18	29
	If line 29 is equal to or more than line 28, stop; you do not qualify for this credit.

.00

30Subtract line 29 from line 28........................................................................................................................

31Multiply line 30 by 50% (.5) (However, if you entered an amount on line 26, multiply line 30 by 25% (.25).)

32Credit limit (see instructions; enter amount from chart) ......................................................................................

33Enter the amount from line 32 or 31, whichever is less. This is the credit for your household. ..........

(If more than one member of your household is filing Form IT-214, see instructions.)...........................................

•If you are filing this claim with your New York State income tax return:

Enter the line 33 amount on Form IT-201, line 67.

•If you are not filing this claim with a New York State income tax return (see instructions):

Mark one refund choice:

direct deposit (fill in line 34) - or -

paper check

.00

Step 6 – Enter account information for direct deposit (see instructions)

If the funds for your refund would go to an account outside the U.S., mark an X in this box (see instructions) .......................................

34Direct deposit (see instructions): Complete the following to have your refund deposited directly to your bank account.

34a Account type:

34b Routing number

Personal checking - or -

Personal savings - or -

34c Account number

Business checking - or -

Business savings

Third-party

designee? (see instr.)

Yes No

Print designee’s name	Designee’s phone number
	(	)

Email:

Personal identification

number (PIN)

▼ Paid preparer must complete ▼	Preparer’s NYTPRIN			NYTPRIN
(see instructions)				excl. code
Preparer’s signature		Preparer’s printed name

Firm’s name (or yours, if self-employed)			Preparer’s PTIN or SSN

Address			Employer identification number

Date

Email:

▼ Taxpayer(s) must sign here ▼

Your signature

Your occupation

Spouse’s signature and occupation (if joint claim)

Date	Daytime phone number
	(	)

Email:

•If you are filing a NYS income tax return, submit this form with your return.

•If you are not filing a NYS income tax return, mail this form to:

NYS TAX PROCESSING, PO BOX 15192, ALBANY NY 12212-5192.

214003200094

How to Edit Form It 214 Online for Free

There's nothing troublesome concerning filling in the it 214 online once you begin using our PDF editor. By taking these simple steps, you'll get the fully filled out PDF in the minimum time period you can.

Step 1: The first thing is to select the orange "Get Form Now" button.

Step 2: Now you are on the form editing page. You may enhance and add text to the form, highlight words and phrases, cross or check particular words, include images, insert a signature on it, erase unrequired fields, or remove them altogether.

Complete the it 214 online PDF by entering the information required for each individual section.

Type in the appropriate data in the field Lastname, B, Social, Security, number C, Dateofbirth, mm, dd, yyyy B, Social, Security, number Lastname, C, Dateofbirth, mm, dd, yyyy and For, office, use, only

part 2 to entering details in form it 214

You may be required to note the details to help the system prepare the area Multiply, line, by, line Step, Compute, real, property, tax Renters, and only.

You need to list the rights and responsibilities of the sides within the Multiply, line, by, enter, here, and, online only, and Homeowners part.

form it 214 Multiplylinebyenterhereandonline, only, and Homeowners blanks to insert

End up by analyzing the next areas and completing them as required: Your, Social, Security, number IT, Page, of Step, Compute, credit, amount Enter, the, line, amount, on, Form, IT, line Mark, one, refund, choice direct, deposit, fill, inline and paper, check

stage 5 to entering details in form it 214

Step 3: Press the Done button to save the document. Then it is accessible for transfer to your device.

Step 4: To protect yourself from any kind of difficulties down the road, you should generate minimally several copies of the form.

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