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IT-241-I (2012) (back)

Residential purposes means any use of a structure, or part

Part 2 – Partnership, New York S corporation,

of a structure, as a place of abode maintained by or for a

estate, and trust information

person, whether or not owned by the person, on other than

Enter the appropriate information for each partnership, New

a temporary or transient basis. This includes multi-family

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

dwelling units such as multi-family homes, apartment

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

buildings, condominiums, and cooperative apartments. The

separate sheet following the same format (be sure to include

structure must be located in New York State.

your name and taxpayer identification number).

Residential purposes do not include the part of a structure

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

used as a hotel, motel, or similar space, except for those

share of credit

units used by the same occupant for at least 90 consecutive

days.

Enter your share of the credit received from a partnership,

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

Column A – Enter the date the bioheat was purchased.

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

If you purchased the bioheat under a plan that requires

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

prepayment to the supplier for a stipulated number of gallons

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

of bioheat at a fixed price, enter the date of the prepayment

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

as the date of purchase. If you purchased the bioheat

line.

through a budget payment plan where you make monthly

payments to the supplier and the supplier deducts the

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

amount of the sale from your account at the time of delivery,

from another estate or trust.

enter the date of delivery as the date of purchase.

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

Column B – Enter the gallons of bioheat purchased on the

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

date entered in column A.

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

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

residential areas

% used for residential

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

(excluding common areas)

= purposes (rounded to

Total square footage

Partnerships: Enter the amount from line 10 and code 301

four decimal places)

of premises

on Form IT-204, line 147.

(excluding common areas)

All others: If your total credits from all sources are

$2 million or less, enter the amount from line 10 and

The percentage is then multiplied by the number of gallons

code 301 on Form IT-201-ATT, line 12, or Form IT-203-ATT,

of bioheat purchased to determine the number of gallons

line 12, or include it on Form IT-205, line 33.

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

area means any area on the premises used without

If your total credits from all sources are more than

distinction for both residential and nonresidential purposes.

$2 million, you may be subject to a credit deferral. Complete

line 10, but do not enter the amount from line 10 on your

Column C – Enter the percentage of biodiesel per gallon

tax return. See Form IT-500, Income Tax Credit Deferral, to

of bioheat purchased as a decimal. This percentage will be

determine the proper amount to enter on your tax return.

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

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

For additional information on the clean heating fuel credit,

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

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

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.

Instructions For Form It-241 -I (2012) - Claim For Clean Heating Fuel Credit - New York State Department Of Taxation And Finance Page 2

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