Form Dtf-625 - Low-Income Housing Credit Allocation And Certification

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DTF-625
New York State Department of Taxation and Finance
Low-Income Housing Credit
(10/12)
Allocation and Certification
(See instructions, Form DTF-625-I, for assistance in completing this form.)
Part 1 – Allocation of credit – Completed by New York State Division of Housing and Community Renewal ( DHCR )
Mark an X in the box if:
Addition to qualified basis
Amended form
This property is receiving a federal LIHC
Address of building (do not use PO box)
Name and address of building owner receiving allocation
(see instructions)
New York State building identification number (BIN)
Taxpayer identification number of building owner receiving allocation
.
1a Date of allocation
1b Maximum housing credit dollar amount allowable
1b
00
(mm-dd-yyyy)
2 Maximum applicable credit percentage allowable
......................................................
2
%
(see instructions)
3a Maximum qualified basis ..................................................................................................................... 3a
.
00
3b Mark an X in the box
if the eligible basis used in the computation of line 3a was increased
under the high-cost area provisions of Internal Revenue Code (IRC) section 42(d)(5)(B). Enter
the percentage to which the eligible basis was increased
......................................... 3b
%
(see instructions)
4 Percentage of the aggregate basis financed by tax-exempt bonds
.............................
4
%
(if zero, enter 0)
5 Date building placed in service
(mm-dd-yyyy)
6 Mark an X in the boxes that describe the allocation for the building
(mark all that apply):
Newly constructed and federally subsidized
IRC section 42(e) rehabilitation expenditures not federally subsidized
a
e
Newly constructed and not federally subsidized
Not federally subsidized by reason of 40-50 rule under IRC section 42(i)(2)(E)
b
f
Allocation subject to nonprofit set-aside under IRC section 42(h)(5)
c
Existing building
g
IRC section 42(e) rehabilitation expenditures federally subsidized
d
Under penalties of perjury, I certify that the allocation made is in compliance with the requirements of Article 2-A of the New York State Public Housing Law and
section 42 of the IRC, and that I have examined Part 1 of this form and to the best of my knowledge and belief, the information is true, correct, and complete.
Signature of authorized official
Name (type or print)
Date
Part 2 – First-year certification – Completed by building owner with respect to the first year of the credit period
.
7a Date building placed in service
7b Eligible basis of building
7b
(see instr.)
00
(mm-dd-yyyy)
8a Original qualified basis of the building at close of first year of credit period ......................................... 8a
.
00
8b Are you treating this building as part of a multiple building project for purposes of IRC section 42?
.... Yes
No
(see instr.)
9a If box 6a or box 6d is marked, do you elect to reduce eligible basis under IRC section 42(i)(2)(B)? ................... Yes
No
9b For market-rate units above the average quality standards of low-income units in the building, do you elect
to reduce the eligible basis by disproportionate costs of non-low-income units (IRC section 42(d)(3)(B))? ..... Yes
No
10 Mark the appropriate box for each election:
Caution: Once made, the following elections are irrevocable.
a Elect to begin credit period the first year after the building is placed in service (IRC section 42( f )(1))........... Yes
No
b Elect not to treat large partnership as taxpayer (IRC section 42( j )(5)) .......................................................... Yes
25-60 (NYC only)
c Elect minimum set-aside requirement (IRC section 42(g))
20-50
40-60
(see instructions)
d Elect minimum set-aside requirement (Public Housing Law, section 21(5)(b)) ............................................40-90
e Elect deep-rent-skewed project (IRC section 142(d)(4)(B))
................................................15-40
(see instructions)
485001120094
625001120094

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