ny-3 ny training-2009 1 ny part year resident ref: ny pub 88 ny pub 80 it 203 instr

NY-3 NY TRAINING-2009 1

NY PART YEAR RESIDENT

REF: NY PUB 88NY PUB 80

IT 203 INSTR

NY-3 NY TRAINING-2009 2

NY PART YEAR RESIDENT RETURN

WHEN DOES IT OCCUR?

HOW DO WE HANDLE IT?

IT 203 AND NY PUB 88, IT 203 INSTR

NY-3 NY TRAINING-2009 3

IT 203 PAGE BY PAGE PERSONAL INFORMATION FEDERAL INCOME AND ADJUSTMENTS NY ADDITIONS AND SUBTRACTIONS DEDUCTION AND EXEMPTION(S) TAX COMPUTATION NONREFUNDABLE CREDITS SALES TAX AND CONTRIBUTIONS PAYMENTS AND REFUNDABLE CREDITS TAX DUE/REFUND ADDITIONAL INFORMATION

NY-3 NY TRAINING-2009 4

PART YEAR NY RESIDENT

COMPLETE FEDERAL RETURN

USE PY RES WKT TO ALLOCATE INCOME TO STATES BASED ON DATE OF RESIDENCE CHANGE

COMPLETE PART YEAR RETURNS FOR BOTH STATES

NY-3 NY TRAINING-2009 5

PART YEAR RESIDENT EXAMPLE

JOINT RETURN BOTH UNDER 65 MOVED NY TO VT 6/1/2008 NYS WAGES $11500 VT WAGES $16500 CAPITAL GAIN 9/30/2008 $5200 MONTHLY PRIVATE PENSION $6000 BANK INTEREST ($50/MO) $600 SOCIAL SECURITY $6000 FEDERAL AGI $42,800

NY-3 NY TRAINING-2009 6

IDENTIFY BOTH PY STATES ON MAIN INFORMATION SHEET

NY-3 NY TRAINING-2009 7

USE PART YEAR RESIDENT WKT

NY-3 NY TRAINING-2009 8

PY RES WKT-INITIAL

NY-3 NY TRAINING-2009 9

PY RES WKT BEFORE CAPITAL GAIN ALLOCATION

MOVED NY TO VT 6/1/2008 CAPITAL GAIN 9/30/2008 $5200 NY NY VT VT FED FED

ENTER 5200 IN VT COLUMN

NY-3 NY TRAINING-2009 10

PY RES WKT AFTER CAPITAL GAIN ALLOCATION

MOVED NY TO VT 6/1/2008 CAPITAL GAIN 9/30/2008 $5200 NY NY VT VT FED FED

NY-3 NY TRAINING-2009 11

PY RES WKT BEFOREPENSION ALLOCATION

NY NY VT VT FED FED

$6000x7/12=$3500 ENTER 3500 IN VT COLUMN

NY-3 NY TRAINING-2009 12

PY RES WKT AFTER PENSION ALLOCATION

NY NY VT VT FED FED

ALLOCATE INTEREST AND SOCIAL SECURITY THE

SAME WAY

NY-3 NY TRAINING-2009 13

PY RES WKT ALLOCATION COMPLETED

NY VT FED

NY-3 NY TRAINING-2009 14

VERIFY PY RES WORKSHEET

NY-3 NY TRAINING-2009 15

NY IT 203 INCOME

NY-3 NY TRAINING-2009 16

IT 203 SUBTRACTIONS

NY-3 NY TRAINING-2009 17

IT 203 PENSION SUBTRACTION

FED NY

NY-3 NY TRAINING-2009 18

IT 203 NEW YORK AGI

FED NY

NY-3 NY TRAINING-2009 19

IT 203 NY TAXABLE INCOME

NY-3 NY TRAINING-2009 20

IT 203 ALLOCATION OF NY TAX

NY-3 NY TRAINING-2009 21

IT 203 SALES TAX AND CONTRIBUTIONS

NY-3 NY TRAINING-2009 22

IT 203 PAYMENTS & REFUNDABLE CREDITS

NY-3 NY TRAINING-2009 23

IT 203 TAX DUE/REFUND

NY-3 NY TRAINING-2009 24

IT 203 PY RESIDENT INFORMATION

NY-3 NY TRAINING-2009 25

IT 203 PAYMENT/REFUND INFORMATION

NY-3 NY TRAINING-2009 26

ANSWER RESIDENCE QUESTIONS P 1 IT 203

NY-3 NY TRAINING-2009 27

EFILE AUTHORIZATION

TR-579 EFILE SIGNATURE AUTHORIZATION

NY-3 NY TRAINING-2009 28

FACTORS TO BE AWARE OF ON PART YEAR RETURNS

NY-3 NY TRAINING-2009 29

CREDITS NOT AVAILABLE TO PART YEAR RESIDENTS

COLLEGE TUITION CREDIT EMPIRE STATE CHILD CREDIT NONCUSTODIAL PARENT EITC REAL PROPERTY TAX CREDIT VOLUNTEER FIREFIGHTER CREDIT

REF: NY PUB 99-IND

NY-3 NY TRAINING-2009 30

SOME CREDITS AVAILABLE TOPART YEAR RESIDENTS

CHILD AND DEPENDENT CARE: IT-216 EARNED INCOME: IT-215 LONG TERM CARE INSURANCE IT-249 HOUSEHOLD (AUTOMATIC) NURSING HOME ASSESSMENT: IT-258 RESIDENT TAX: IT-112R

Only while NY Resident

REF: NY PUB 99-IND

NY-3 NY TRAINING-2009 31

INTEREST AND DIVIDEND ADJUSTMENT

USE “STATE ADJUST” COLUMNS ON TAXWISE INTEREST AND DIVIDEND STATEMENTS ONLY FOR FULL YEAR RESIDENT RETURNS

FOR PART YEAR AND NONRESIDENT RETURNS, MANUALLY ENTER THE CORRECT AMOUNT OF

INTEREST AND DIVIDENDS DIRECTLY ON THE STATE FORMS

NY-3 NY TRAINING-2009 32

MUNI AND US GOVT INTEREST

3 MO NY RESIDENT, 9 MO NON NY RESIDENT

TAXWISE INTEREST STATEMENT

NY-3 NY TRAINING-2009 33

$600 US GOVT INTEREST SUBTRACTION

3 MO NY RES, 9 MO VT RES SCRATCH PAD FROM IT 203 LINE 27 FED

COLUMN

ENTER $150 IN NY COLUMN FED NY

NY-3 NY TRAINING-2009 34

$1200 NON NY MUNI ADDITION

NON NY BOND,$100/MO INTEREST 3 MO NY RES, 9 MO VT RES FED NY

NY-3 NY TRAINING-2009 35

PART YEAR NY RESIDENT

COMPLETE FEDERAL RETURN

USE PY RES WKT TO ALLOCATE INCOME TO STATES BASED ON DATE OF RESIDENCE CHANGE

COMPLETE PART YEAR RETURNS FOR BOTH STATES

NY-3 NY TRAINING-2009 36

PART YEAR NY RESIDENT

QUESTIONS?