There is no New York Form IT-588. Do you mean IT-558?
On your 2022 Form IT-201, is line 19a equal to line 19? If so, Form IT-558 does not apply.
Form IT-558 is used only for four very uncommon situations, listed in the following excerpt from the 2022 Instructions for Form IT-558. Does one of these situations apply to you?
"You should make New York State adjustments due to decoupling from the IRC using Form IT-558 only if:
- you are a partnership and are a partner in one or more partnerships and you received Forms IT-204-CP and IT-204-IP from those partnerships and an amount was reported to you in the Partner’s share of New York adjustments due to decoupling from the IRC section, line 1 or 2 of those forms.
- you are a partner in one or more partnerships and received Form IT-204-IP from that partnership and an amount was reported to you in the Partner’s share of New York adjustments due to decoupling from the IRC section, line 1 or 2 of that form.
- you are a shareholder of one or more federal S corporations for which the election to be a New York S corporation was in effect for the tax year, and the S corporations provided you any addition and subtraction adjustments because of New York State decoupling from changes to the IRC after March 1, 2020.
- you are a beneficiary of an estate or trust and the estate or trust reported adjustments to federal taxable income because of New York State decoupling from changes to the IRC after March 1, 2020."
