Form IT-257 Claim of Right Credit - New York

What Is Form IT-257?

This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form IT-257?
A: Form IT-257 is the Claim of Right Credit form for New York State.

Q: What is the purpose of Form IT-257?
A: Form IT-257 is used to claim a credit for the repayment of income that was reported in a previous year but is no longer taxable.

Q: Who can claim the Claim of Right Credit?
A: Individuals who repaid income in a later year that was included in a previous year's New York State taxable income may be eligible to claim the credit.

Q: How much is the Claim of Right Credit?
A: The credit is equal to the amount of New York State tax paid on the repaid income.

Q: What are the eligibility requirements for claiming the Claim of Right Credit?
A: To be eligible for the credit, you must have included the income in a prior year's New York State taxable income and repaid the income or received a court judgment ordering repayment.

Q: What supporting documentation is required when filing Form IT-257?
A: You must include documentation that verifies the repayment of the income, such as a canceled check or court order.