PDF
Word
This version of the form is not currently in use and is provided for reference only. Download this version of
Instructions for Form IT-255
for the current year.
Instructions for Form IT-255 Claim for Solar Energy System Equipment Credit - New York
This document contains official instructions for Form IT-255 , Claim for Solar Energy System Equipment Credit - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form IT-255 is available for download through this link.
FAQ
Q: What is Form IT-255?A: Form IT-255 is a form used to claim the Solar Energy SystemEquipment Credit in New York.
Q: What is the Solar Energy System Equipment Credit?A: The Solar Energy System Equipment Credit is a tax credit available for individuals or businesses that install a solar energy system in New York.
Q: Who can claim the Solar Energy System Equipment Credit?A: Individuals or businesses that own or lease a solar energy system in New York can claim the credit.
Q: What is the purpose of Form IT-255?A: The purpose of Form IT-255 is to calculate and claim the amount of credit you are eligible for based on your solar energy system installation.
Q: What information is required on Form IT-255?A: You will need to provide details about your solar energy system, such as its cost, installation date, and capacity, along with your personal or business information.
Q: When is the deadline to file Form IT-255?A: The deadline to file Form IT-255 is the same as the deadline for your New York income tax return, usually April 15th.
Q: Can I claim the Solar Energy System Equipment Credit if I already claimed a federal tax credit for the same system?A: Yes, you can claim both the federal tax credit and the Solar Energy System Equipment Credit in New York.
Q: What documentation do I need to include with Form IT-255?A: You will need to include documentation such as receipts, invoices, and proof of installation with Form IT-255.
Q: Can I carry forward any unused credit?A: Yes, any unused credit can be carried forward for up to five years.
Q: Is there a maximum credit amount?A: Yes, the maximum credit amount for individuals is $5,000, and for businesses, it is $25,000.
Instruction Details:
- This 2-page document is available for download in PDF;
- Might not be applicable for the current year. Choose a more recent version;
- Complete, printable, and free.
Download your copy of the instructions by clicking the link below or browse hundreds of other forms in our library of forms released by the New York State Department of Taxation and Finance.
Download Instructions for Form IT-255 Claim for Solar Energy System Equipment Credit - New York
1
2
