Form DTF-625-ATT: Low-Income Housing Credit Annual Statement (2026)

Last reviewed: 2025-10-29

Use the New York Tax Form Calculator Form DTF-625-ATT — Low-Income Housing Credit Annual Statement as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 New York state tax return. Alternatively, you can use one of our Combined Federal and State Tax Estimators to quickly calculate your salary, tax, and take-home pay.

Form DTF-625-ATT must be filed annually by the building owner or transferee for each qualified residential rental building during the 15-year compliance period following the allocation of the low-income housing credit under Public Housing Law Article 2-A and IRC §42. The form reports the building’s eligible basis, the low-income unit fraction, qualified basis, adjustments for partial-year ownership, and computes the annual credit amount.

This annual statement serves as the foundational building-specific calculation supporting the credit claimed on Form DTF-624 and must be retained, along with the original allocation certification (Form DTF-625), for audit readiness.

1. Who must file: The owner or transferee of a qualified low-income housing building with an allocation of SLIHC credit must file DTF-625-ATT each tax year during the 15-year compliance period (which covers the 10-year credit period plus 5 years of potential recapture).
2. Key data items: The statement includes line 1: eligible basis of building; line 2: the low-income unit fraction; line 3: qualified basis (eligible basis × fraction); line 4: part-year adjustment for acquisition/disposition; line 5: credit percentage; line 6: basic credit fund amount; and further lines for additions to qualified basis, modifications, deferred credit and taxpayer’s share.
3. Acquisition/disposition adjustment: If the building or ownership interest was acquired or disposed of during the tax year, the qualified basis must be adjusted on line 4 to reflect the ratio of days owned or share held, ensuring pro-rata credit only for days held.
4. Credit additions and modifications: If the building receives a basis increase (for example, additional low-income units or rehabilitation) or modifications under IRC §42(f)(3)(B), these additions are reported on line 7 onward and affect the credit computation for that year and remaining years of compliance.
5. Transfer and recapture issues: If the credit was transferred or the qualified basis decreased (for example, building ceased to meet low-income set-aside), the building owner must apply recapture rules and report via Form DTF-626. The statement verifies ongoing compliance and triggers adjustments if needed.

Annual Statement Computation & Example

On each DTF-625-ATT you begin with line 1 (eligible basis) and apply line 2 (low-income unit fraction) to arrive at line 3 (qualified basis). If you owned the interest for only part of the year, apply line 4 to adjust the basis for days held. Then enter the credit rate on line 5 (decimal form) and multiply line 3 or adjusted line 4 by line 5 to arrive at line 6 (initial credit amount).

Example: A building has eligible basis $6,000,000 and a low-income unit fraction of 0.7500. Qualified basis = $6,000,000 × 0.7500 = $4,500,000. With a credit percentage of 0.0900 (9%), the initial credit = $4,500,000 × 0.0900 = $405,000 for that year (subject to adjustments). If ownership changed mid-year, you would multiply by the days-held fraction on line 4 before applying the credit rate.

If there are additions to qualified basis (line 7) or deferred first-year credit (line 18) these are processed as part of the statement and may affect the annual credit or carry-forwards. The taxpayer then enters their calculated share on line 19, which flows into Form DTF-624 Part 1 line 3.

Maintain the DTF-625-ATT and all supporting schedules for each year for audit purposes—these statements are the core substantiation for the low-income housing credit claim and for compliance with set-aside and occupancy tests.

Best Practices for Owners & Transferees

At year-end prepare a worksheet comparing prior year low-income unit counts, basis changes, and ownership changes to ensure accurate line-2 fractions and adjustments. Any variance from submitted line-2 fractions may trigger recapture review.

For acquisitions or dispositions during the tax year, document the exact dates and ownership percentages, and upload the statements into your building compliance file. Record the SLIHC tracking ID and BIN across all years to maintain continuity.

When claiming the credit via a transferee arrangement, verify the pre-approval by the New York State Division of Housing and Community Renewal (DHCR) and enter the tracking ID on the form. Ensure your annual statement is attached to DTF-624 and filed with your tax return to preserve eligibility and audit protection.

Quick Access Tools

Important Notes

All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.