Form IT-255 at a glance
What it is: IT-255 is the Department of Taxation and Finance's Claim for Solar Energy System Equipment Credit, Tax Law Section 606(g-1).
Where and when to file: Submit this form with Form IT-201 or IT-203.
A filled-in Form IT-255 example: a purchased solar system
How to fill out Form IT-255, box by box
Names as shown on return
Enter your names as shown on return and your Social Security number.
Purchase
Under Purchase, enter in column A the date equipment placed in service (mmddyyyy), in column B the qualified expenditures (see instructions), and in column C column B x 25% (0.25) not to exceed $5000 (checked November 2, 2026).
Power purchase agreement
Under Power purchase agreement, enter in column A the date equipment placed in service (mmddyyyy), in column B the qualified expenditures (see instructions), and in column D the limitation (see instructions). For Power purchase agreement, column C is column B x 25% (0.25) not to exceed $5000 (checked November 2, 2026).
Lease
Under Lease, enter in column A the date equipment placed in service (mmddyyyy), in column B the qualified lease payments (see instructions), in column D the amount from column B paid in the current tax year (see instructions), and in column E the limitation (see instructions). For Lease, column C is column B x 25% (0.25) not to exceed $5000 (checked November 2, 2026).
Current year credit and carryover credit
On line 1, enter the current year credit (see instructions).
On line 2, enter the carryover credit from last year's Form IT-255, line 10.
On line 3, add lines 1 and 2 for the solar energy system equipment credit.
Schedule B lines 4 to 10
In Schedule B, application of credit and calculation of carryover, enter on line 4 the tax due before credits (see instructions).
On line 5, enter other credits that you applied before this credit (see instructions).
On line 6, subtract line 5 from line 4.
On line 7, enter the lesser of line 3 (or your portion of line 3) or line 6 (see instructions).
On line 8, subtract line 7 from line 3 (or your portion of line 3; see instructions).
On line 9, enter the amount, if any, included on line 8 that expired this tax year (see instructions).
On line 10, enter the amount of credit available for carryover to next year (subtract line 9 from line 8).
More rules for Form IT-255
In Schedule A, calculation of solar energy system equipment credit, complete the information in the applicable chart with respect to your solar energy system equipment.
Common questions about Form IT-255
Where do I file it?
Submit this form with Form IT-201 or IT-203.
Sources
[1] Form IT-255, Claim for Solar Energy System Equipment Credit, New York State Department of Taxation and Finance (the Official source link on this page).