Form It-253 - Claim For Alternative Fuels Credit - 2013 Page 2
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1
2Instructions (continued)
IT-253 (2013) (back)
Line 3 – If you are applying any credits against the tax before
Example: In year one, a taxpayer claims a credit of $10,000 on
this credit, enter those amounts here.
refueling property that had a recovery period of ten years. The
taxpayer uses the property for three years and disposes of it in
When applying credits, use the following rules:
year four. The recapture is computed as follows:
• First apply any household credit.
Total recovery period less number of years
• Next apply any credits that cannot be carried over or refunded.
prior to recapture year (10-3) ............................... seven years
• Then apply any credits that can be carried over for a limited
Total recovery period ...........................................
ten years
duration.
• Then apply any credits that can be carried over for an
Recapture % (7/10) .............................................
70%
unlimited duration.
Credit originally allowed ......................................
$10,000
• Apply refundable credits last.
Recaptured credit ................................................
$7,000
Line 5 – Enter the amount from line 5 and code 253 on
Line 8 – Partner in a partnership, shareholder of an
Form IT-201-ATT, line 6, or Form IT-203-ATT, line 7, or include it
S corporation, or beneficiary of an estate or trust: Enter your
on Form IT-205, line 10.
share of the credit recapture. You can get this information from
your partnership, S corporation, estate, or trust.
Schedule B – Recapture of alternative-fuel
Line 10 – Fiduciaries, enter the total amount of recapture
vehicle refueling property credit
allocated to beneficiaries. Provide the beneficiaries with their
Note: If you are claiming a recapture for more than three
share of the recapture to be claimed on their tax returns.
alternative-fuel vehicle refueling properties, complete as
many Forms IT-253 (name, identification number, and
Line 11 – Fiduciaries, transfer the line 11 amount to
Schedule B only) as necessary. On the first Form IT-253,
Form IT-205, line 12.
complete Schedule A. Include on line 7 of the first Form IT-253
the total of column G from all additional Forms IT-253. Place
the additional Forms IT-253 behind the first Form IT-253 that
has an entry on line 7. Enter on line 9 the total recaptured credit
computed.
If alternative-fuel vehicle refueling property ceases to be
qualified at any time before the end of its recovery period
(depreciable life), a portion of the credit that was previously
allowed must be recaptured.
Alternative-fuel vehicle refueling property ceases to be qualified
if one or more of the following applies:
1. The property no longer qualifies as property described in
IRC section 30C; or
2. fifty percent or more of the use of the property in a tax year is
other than in a trade or business in New York; or
3. the taxpayer receiving the credit sells or disposes of the
property and knows or has reason to know that the property
will be used in a manner described in 1 or 2 above.
If a recapture is required, enter in column A the tax year the
credit was originally allowed. Column B is the total recovery
period (depreciable life) of the property for federal tax purposes.
In column C, enter the number of years the property was in
service prior to the recapture year.
To compute the recapture percentage in column E, divide
column D by column B. To compute the recapture in column G,
enter the original credit allowed in column F, and multiply it by
the column E recapture percentage.
The amount to be recaptured is equal to the credit allowed
multiplied by a fraction. The numerator of the fraction is the total
recovery years of the property minus the years the property
was in service (not including the recapture year), and the
denominator is the total recovery years.
253002130094
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