NY-3 NY TRAINING-2009 1

IT 201 NEW YORK STATE RESIDENT RETURN

REFSNYS PUB 80NYS PUB 99-IND IT-201 INSTR

NY-3 NY TRAINING - 2009 2

YOU MUST FILE A NY RETURN IF

YOU FILE A FEDERAL RETURN OR

FEDERAL AGI+NY ADDITIONS IS AT LEAST $4,000 ($3,000 IF DEPENDENT) OR

YOU WANT TO CLAIM A REFUND OR

YOU WANT TO CLAIM A CREDIT

NY IT-201Pg 1

NY IT-201Pg 2

NY IT-201Pg 3

NY IT-201Pg 4

NY-3 NY TRAINING - 2009 7

IT 201 PAGE BY PAGE

PAGE 1 PERSONAL INFORMATION FEDERAL AGI

PAGE 2 NY ADDITIONS NY SUBTRACTIONS DEDUCTION AND EXEMPTIONS

NY-3 NY TRAINING - 2009 8

IT 201 PAGE BY PAGE

PAGE 3 TAX CALCULATION NONREFUNDABLE CREDITS SALES TAX & CONTRIBUTIONS

PAGE 4 REFUNDABLE CREDITS TAX DUE/REFUND

NY-3 NY TRAINING - 2009 9

RESIDENT RETURN EXAMPLE

JOINT RETURN, DEPENDENT AGE 9 FEDERALLY TAXABLE WAGES $12,000 414(h) CONTRIBUTION $1,000 BANK INTEREST $1000 US GOV. BOND INTEREST $500 FIDELITY MUNI INTEREST $5,000 FEDERAL PENSION $15,000 PRIVATE PENSION $7,000 FEDERAL AGI $35,500

NY-3 NY TRAINING - 2009 10

IT 201 SCHOOL AND COUNTY ENTRIES

NY-3 NY TRAINING - 2009 11

SCHOOL DISTRICT NAMES AND CODES

F1 KEY IN ANY OF THE 3 BOXES EXPAND NEW YORK CODES (+) SELECT COUNTY AND SCHOOL DISTRICT CODES

NY-3 NY TRAINING - 2009 12

IT 201 NYC RESIDENCY ENTRIES

NY-3 NY TRAINING - 2009 13

IT 201 INCOME

NY-3 NY TRAINING - 2009 14

NY AGI

NY AGI=FEDERAL AGI +NY ADDITIONS -NY SUBTRACTIONS

NY-3 NY TRAINING - 2009 15

NY ADDITIONS

NON NY MUNI INTEREST

PUBLIC EMPLOYEE 414H CONTBUTIONS

NONQUALIFIED NY 529 COLLEGE SAVINGS DISTRIBUTIONS

NYC FLEXIBLE BENEFITS PROGRAM IRC 125

NY-3 NY TRAINING - 2009 16

MUNI FUND 1099-INT

FIDELITY MUNI FUND 82 DEVONSHIRE STREET BOSTON MA 02109

5000.00

JOHN SMITH

200 MAIN STREET

ALBANY NY 12206

NY-3 NY TRAINING - 2009 17

TAXWISE INTEREST STATEMENT

NY-3 NY TRAINING - 2009 18

IT 201ADDITIONSNON-NY MUNI

NY-3 NY TRAINING - 2009 19

414H ON W-2

STATE OF NEW YORK 100 STATE STREET ALBANY NY 12206

414H 1000

JOHN SMITH 200 MAIN STREET ALBANY NY 12206

NY-3 NY TRAINING - 2009 20

ENTERING 414H ON W2 IN TAXWISE

NY-3 NY TRAINING - 2009 21

IT 201 ADDITIONS 414(h)

NY-3 NY TRAINING - 2009 22

NYC IRC 125 BENEFITS

NEW YORK CITY EMPLOYEES FLEXIBLE PROGRAM

BOX 14 OF PAPER W-2 REPORTS AMOUNT OF IRC 125 BENEFITS

ENTER IRC125S AND AMOUNT IN BOX 14 OF W-2

TAXWISE ENTERS AMOUNT ON LINE 23 OF IT201 WITH CODE A-3

NY-3 NY TRAINING - 2009 23

NY SUBTRACTIONS

TAXABLE STATE INCOME TAX REFUNDS PUBLIC PENSION EXEMPTION TAXABLE SOCIAL SECURITY US GOVERNMENT BOND INTEREST PRIVATE PENSION EXCLUSION 529 PLAN CONTRIBUTIONS

NY-3 NY TRAINING - 2009 24

LOCAL BANK 1099-INT

LOCAL BANK 25 CHURCH STREET ALBANY NY 12206

JOHN SMITH

200 MAIN ST

ALBANY NY 12206

1000.00

500.00

NY-3 NY TRAINING - 2009 25

TAXWISE INTEREST STATEMENT

NY-3 NY TRAINING - 2009 26

IT 201 SUBTRACTIONS US GOVT BOND INTEREST

NY-3 NY TRAINING - 2009 27

PUBLIC PENSION 1099R IN TAXWISE

NY-3 NY TRAINING - 2009 28

IT 201 SUBTRACTIONS US GOVT PENSION

NY-3 NY TRAINING - 2009 29

PRIVATE PENSION 1099RIN TAXWISE

NY-3 NY TRAINING - 2009 30

IT 201 SUBTRACTIONS PRIVATE PENSION

NY-3 NY TRAINING - 2009 31

IT 201NY AGI

NY-3 NY TRAINING - 2009 32

NY TAXABLE INCOME

NY TAXABLE INCOME= NY AGI -DEDUCTION -DEPENDENT EXEMPTIONS

NY-3 NY TRAINING - 2009 33

NY STANDARD DEDUCTIONS SINGLE (Dependent) $3000 SINGLE $7500

MARRIED – JOINT $15,000 MARRIED – SEPARATE $7500

HEAD OF HOUSEHOLD $10,500

QUALIFYING WIDOW(ER) $15,000

NY-3 NY TRAINING - 2009 34

ITEMIZED OR STD?

FEDERAL STATE

STD STD

ITEMIZED LARGER

NY-3 NY TRAINING - 2009 35

IT 201DEDUCTION AND EXEMPTION(S)

NY-3 NY TRAINING - 2009 36

NEW YORK STATE CREDITS

NONREFUNDABLE CREDITS

REFUNDABLE CREDITS

NY-3 NY TRAINING - 2009 37

IT 201 TAX AND NONREFUNDABLE CREDITS

AUTOMATIC

NY-3 NY TRAINING - 2009 38

HOUSEHOLD AND RESIDENT CREDITS

HOUSEHOLD CREDIT AUTOMATIC IN TAXWISE INCOME, STATUS, DEPENDENTS NON REFUNDABLE

RESIDENT CREDIT 112R INCOME TAX PAID TO ANOTHER STATE NONREFUNDABLE SEE SEPARATE FILE

NY-3 NY TRAINING - 2009 39

IT 201 SALES TAX AND CONTRIBUTIONS

NY-3 NY TRAINING - 2009 40

IT 201 REFUNDABLE CREDITS

NY-3 NY TRAINING - 2009 41

EMPIRE STATE CHILD CREDIT IT 213

AUTOMATIC IN TAXWISE FULL YEAR RESIDENT ONLY FEDERAL CHILD TAX CREDIT OR ADDITIONAL

CHILD TAX CREDIT OR INCOME BELOW FEDERAL CAP

CHILD AGE 4 TO 16 33% OF FEDERAL CREDIT

NY-3 NY TRAINING - 2009 42

CHILD & DEPENDENT CARE CREDIT IT-216

AUTOMATIC IN TAXWISE FEDERAL CHILD AND DEP. CARE RES, PY RES, NONRES FEDERAL RULES: USUALLY ELIMINATE

MARRIED FILING SEPARATE A PERCENTAGE OF FEDERAL CREDIT REFUNDABLE TO FULL AND PY RESIDENTS NONREFUNDABLE TO NONRESIDENTS ADDITIONAL CREDIT FOR NYC RESIDENTS

NY-3 NY TRAINING - 2009 43

EARNED INCOME CREDIT IT-215

AUTOMATIC IN TAXWISE MUST CLAIM FEDERAL EIC NOT MARRIED FILING SEPARATE RES AND PY RES ONLY 30% OF FEDERAL CREDIT LESS HOUSEHOLD CREDIT ADDITIONAL CREDIT FOR NYC RESIDENTS

NY-3 NY TRAINING - 2009 44

NON-CUSTODIAL PARENT EIC IT-209

SEE NY CREDITS FILE NOT MARRIED FILING SEPARATE CHILD DID NOT RESIDE WITH TAXPAYER FULL YEAR RESIDENT ONLY AGE 18 OR OLDER CHILD UNDER 18 MUST PAY CHILD SUPPORT COURT ORDER AND COLLECTION UNIT ADDITIONAL CREDIT FOR NYC RESIDENTS

NY-3 NY TRAINING - 2009 45

IT 201 PAYMENTS AND REFUNDABLE CREDITS

NY-3 NY TRAINING - 2009 46

TAX DUE/REFUND

NY-3 NY TRAINING - 2009 47

PAYMENT/DEPOSIT INFORMATION

NY-3 NY TRAINING - 2009 48

EFILE AUTHORIZATION

TR-579 EFILE SIGNATURE AUTHORIZATION

NY-3 NY TRAINING - 2009 49

CREDITS IN INDIVIDUAL FILES

RESIDENT CREDIT IT 112R

REAL PROPERTY TAX CREDIT IT 214

COLLEGE TUITION CREDIT IT 272

NY-3 NY TRAINING - 2009 50

CREDITS IN NY CREDITS FILE

VOLUNTEER FIREFIGHTER & AMBULANCE WORKER CREDIT IT 245

LONG TERM CARE INSURANCE CREDIT IT 249

NURSING HOME ASSESSMENT CREDIT IT 258

NY-3 NY TRAINING - 2009 51

CREDITS NOT AVAILABLE IN TAXWISE 2008

CLEAN HEATING FUEL IT 241

CONSERVATION EASEMENT IT 242

DEFIBRILLATOR IT 250

NY-3 NY TRAINING - 2009 52

IT 201 NEW YORK STATE RESIDENT RETURN

QUESTIONS?

REFSNYS PUB 80NYS PUB 99-IND IT-201 INSTR