To Generate Form IT-256 from the Taxpayer's Mortgage:
- Go to Screen 53, Other Credits.
- Select New York Mortgage Credit (IT-256) - Individual in the left navigation pane.
- Enter the following items:
- Location of property
- Date mortgage recorded
- Amount of mortgage
- Special additional mortgage tax paid
To Generate Form IT-256 from a Passthrough Entity:
- Go to Screen 53, Other Credits.
- Select New York Mortgage Credit (IT-256) - Passthrough in the left navigation pane.
- Enter the following items:
- 1=partnership, 2=estate or trust
- Entity name
- Employer ID number
- Share of credit
Note: Part 4 of Form IT-256 is not presently supported in the Individual module in Lacerte.