State tax filing
You are not able to take the refundable portion of the Historic Homeownership Rehabilitation Credit because of your NYS AGI. If you look at Form IT-203, you will see that your NYS AGI is actually calculated as if you were a full year resident of NYS. This calculated amount will be used on Line 32, which then flows into the calculation of your NYS taxable income and the NYS base tax on Line 44. It isn't until Line 45 that your NYS "source income" is used to calculate your NYS income percentage. This percentage is then applied to your total NYS tax calculated on Line 44 to calculate your actual tax liability.
If you preview your IT-203 as it is, you will see that your NYS AGI at the end of page 2 will be closer to your federal AGI of 220,000. What that number is depends on the items of your return that NYS may or may not tax. However, it will not be just your NYS source income from the NYS bank in which you owe $1 of NYS tax on.
Therefore, you likely do not qualify for the refundable amount of the credit because your NYS AGI is over $60,000 and you will have to carry forward the remaining credit amount.
Lastly, TurboTax does not support Form IT-237, Historic Homeownership Rehabilitation Credit and therefore, cannot be added to your IT-203 using either the desktop or online version.
