Instructions For Form It-241-I, Claim For Clean Heating Fuel Credit, New York State Department Of Taxation And Finance (Page 2 of 2) in pdf

IT-241-I (2014) (back)

Column B – Enter the gallons of bioheat purchased on the

Part 4 – Beneficiary’s and fiduciary’s share of credit

date entered in column A.

An estate or trust must complete Part 4. If an estate or trust

allocates or assigns the credits to its beneficiaries, base the

If bioheat is purchased for a premises (location) that has

division on each beneficiary’s proportionate share of the

both residential and nonresidential space but has only one

income of the estate or trust. Provide the beneficiaries with

tank for the storage of bioheat fuel, the taxpayer must use

their share of the credit.

the following formula to determine the percentage of the

premises used for residential purposes to compute the credit

Part 5 – Computation of clean heating fuel credit

properly.

Complete lines 7, 8, and 9 (whichever apply to you).

Square footage of

residential areas

Fiduciaries: Do not enter any amounts on lines 7 and 8.

% used for residential

(excluding common areas)

= purposes (rounded to

Line 10 – Add lines 7, 8, and 9, and enter the total on line 10.

Total square footage

four decimal places)

Partnerships: Enter the amount from line 10 and code 301

of premises

on Form IT-204, line 147.

(excluding common areas)

All others: Enter the amount from line 10 and code 301 on

The percentage is then multiplied by the number of gallons

Form IT-201-ATT, line 12, or Form IT-203-ATT, line 12, or

of bioheat purchased to determine the number of gallons

include it on Form IT-205, line 33.

eligible for the credit. For purposes of the formula, common

For additional information on the clean heating fuel credit,

area means any area on the premises used without

see TSB-M-08(1)I, Clean Heating Fuel Credit.

distinction for both residential and nonresidential purposes.

Column C – Enter the percentage of biodiesel per gallon

of bioheat purchased as a decimal. This percentage will be

listed on your receipt preceded by the letter B. For example,

if B5 is shown in the description of the bioheat on your

receipt, the bioheat contains 5% biodiesel. In that case, you

would enter .05 in column C for that purchase. The amount

entered cannot exceed .20.

Line 2 – If you are the only taxpayer who made the purchase

of bioheat for the premises, enter the line 2 amount on line 7.

If you shared in the purchase of bioheat with one or more

other taxpayers, prorate the amount of the credit allowable

for each taxpayer according to the percentage of the total

bioheat purchased by each taxpayer. Enter only your share

of the line 2 amount on line 7. Submit a statement with your

return showing the name, address, and share of the credit

allowable for each taxpayer. If you are filing a joint return, do

not prorate the credit between you and your spouse.

Part 2 – Partnership, New York S corporation,

estate, and trust information

Enter the appropriate information for each partnership, New

York S corporation, estate, or trust from which you received

a share of the credit. If you need more space, submit a

separate sheet following the same format (be sure to include

your name and taxpayer identification number).

Part 3 – Partner’s, shareholder’s, or beneficiary’s

share of credit

Enter your share of the credit received from a partnership,

New York S corporation, estate, or trust on the appropriate

line(s) in Part 3. You may obtain this information from the

partnership, corporation, estate, or trust. If you belong to

more than one partnership, New York S corporation, estate,

or trust, enter the total of all your shares on the appropriate

line.

Estate or trust: Include on line 5 only your share of the credit

from another estate or trust.

Instructions For Form It-241-I, Claim For Clean Heating Fuel Credit, New York State Department Of Taxation And Finance Page 2

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