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NY IT-203-F Schedule B still buggy in TurboTax 2022, please fix Intuit!
Hi Intuit,
New York State form IT-203-F for multi-year income allocations is still broken in implementation for TurboTax desktop in 2022, just as it was in 2021.
The problem is two-fold:
1. If you only have restricted stock and not wage income to allocate between states, one should solely fill out Schedule B, one form for each restricted stock grant/vest pair. However, it appears that the application still demands that something be filled out in Schedule A, so I have to put in garbage (e.g., I put in A - total compensation of 1, B - New York amounts of 0, type of income "none - TurboTax bug").
2. After adding restricted stock income (using the Desktop version as apparently the online version does not support multiple sheets), TurboTax attempts to allocate this as capital gains income which is incorrect, as restricted stock vests are not capital gains income. The only fix is to apply the @nivin hack in their post from February 27, 2022 11:57 AM in the link below in forms mode to get the income to instead appear as regular income not capital gains:
https://ttlc.intuit.com/community/state-taxes/discussion/what-does-the-form-203-f-mean/00/1404869
Intuit, please fix this. It was broken the same way last year as it is this year. This is a huge pain for those who have to deal with multi-state income allocation for restricted stock. At the very least, don't pretend that you implement IT-203-F properly and instead allow one to simply upload a hand-filled PDF for the IT-203-F forms as you required in tax year 2020 and prior, this was much easier.