Hi, I have two question and appreciate any advice. If I can't figure this out then I'll need to file an extension and use a CPA :(
My K1 from a NY S-corp says:
SUPPLEMENTAL INFORMATION
NYS PASS THROUGH ENTITY TAX DEDUCTION, TO BE INCLUDED AS NYS MODIFICATION ON FORM
IT-225: $ 537
NYS PASS THROUGH ENTITY TAX CREDIT, TO BE INCLUDED ON FORM IT-653: $ 2,606
On the New York IT-653 Schedule A, I entered the $2606 credit. TT copied this amount over to the IT-225 Schedule A - Addition part 1 for Individuals code 21. Shouldn't it be in part for shareholders as I am a significant shareholder of the Sub-S corp that issued the K1?)
Where do I enter the $537 deduction? TT doesn't let me enter it on the IT-225 (In Schedule B - New York State subtractions, (I assume I use same code 219?))
Thank you in advance!
