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 PART YEAR RESIDENT RETURN

WHEN DOES IT OCCUR?

HOW DO WE HANDLE IT?

IT 203 AND NY PUB 88, IT 203 INSTR


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


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


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


IDENTIFY BOTH PY STATES ON MAIN INFORMATION SHEET


USE PART YEAR RESIDENT WKT


PY RES WKT-INITIAL


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


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


PY RES WKT BEFOREPENSION ALLOCATION

NY NY VT VT FED FED

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


PY RES WKT AFTER PENSION ALLOCATION

NY NY VT VT FED FED

ALLOCATE INTEREST AND SOCIAL SECURITY THE

SAME WAY


PY RES WKT ALLOCATION COMPLETED

NY VT FED


VERIFY PY RES WORKSHEET


NY IT 203 INCOME


IT 203 SUBTRACTIONS


IT 203 PENSION SUBTRACTION

FED NY


IT 203 NEW YORK AGI

FED NY


IT 203 NY TAXABLE INCOME


IT 203 ALLOCATION OF NY TAX


IT 203 SALES TAX AND CONTRIBUTIONS


IT 203 PAYMENTS & REFUNDABLE CREDITS


IT 203 TAX DUE/REFUND


IT 203 PY RESIDENT INFORMATION


IT 203 PAYMENT/REFUND INFORMATION


ANSWER RESIDENCE QUESTIONS P 1 IT 203


EFILE AUTHORIZATION

TR-579 EFILE SIGNATURE AUTHORIZATION


FACTORS TO BE AWARE OF ON PART YEAR RETURNS


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


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


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


MUNI AND US GOVT INTEREST

3 MO NY RESIDENT, 9 MO NON NY RESIDENT

TAXWISE INTEREST STATEMENT


$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


$1200 NON NY MUNI ADDITION

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



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



QUESTIONS?

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

Documents

ny training

ny pub

ny bond

ny column fed ny slide

ny ny vt vt fed fed

ny vt fed slide

mo ny resident

ny resident ref