Form It-272 - Claim For College Tuition Credit For New York State Residents - New York State Department Of Taxation And Finance Page 2

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IT-272 (2005) (back)
Part 2 -
Complete Part 2 if your total qualified college tuition expenses on Part 1, line 3,
on the front page are less than $5,000.
2 0 0 0 0
4 Credit limitation ($200) .................................................................................................................
4.
5 Enter the lesser of line 3 or line 4. This is your college tuition credit
5.
..............
(see instructions)
Part 3 -
Complete Part 3 if your total qualified college tuition expenses on Part 1,
line 3, on the front page are $5,000 or more.
6 Enter the amount from line 3 on the front page ...........................................................................
6.
7 Multiply the amount on line 6 by 4% (.04). This is your college tuition credit
7.
.........
(see instructions)
Part 4 -
College tuition itemized deduction option
Caution: If you itemized your deductions on your federal return, you may elect to claim the college tuition itemized
deduction instead of the credit. To determine if you will receive a greater tax benefit from the itemized deduction,
complete Worksheet 6 on page 96 of the combined instructions for Forms IT-150 and IT-201.
If you elect to claim the college tuition itemized deduction, do not enter the college tuition credit you computed on
line 5 or line 7 above on your Form IT-150 or Form IT-201.
If you elect to claim the college tuition itemized deduction, you must file Form IT-201. You cannot file Form IT-150.
8.
8 Mark an X in this box if you are claiming the college tuition itemized deduction
.....................
(see instructions)
Please file this original scannable
2722050094
credit form with the Tax Department.

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