Who Should File a Form IT-214 With the IRS?


Quick Answer

Form IT-214 is a New York state tax form and should not be filed with the Internal Revenue Service. The form should be filed with the New York Department of Taxation and Finance by homeowners or renters claiming a real property tax credit.

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Full Answer

PDF versions of the form and instructions are available on the New York Department of Taxation and Finance website.

Form IT-214 is usually submitted by New York residents with their personal state income tax return Form IT-201. The property tax credit is available to New York residents with an annual gross household income below a set rate. For example, the income limit to qualify for the credit in the 2013 tax year was $18,000 or less.

Other criteria which must be met include residence in the state of New York for the entire tax year, residence at one property for at least six months and an owned property value below a set amount. For the 2013 tax year, the maximum property value was $85,000. Additionally, property owners must have paid all property taxes and cannot have received more than 20 percent of rents for non-residential purposes. To qualify, renters cannot have paid monthly rent above a set limit, which for 2013 was $450 per month.

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