Deductions & credits
No, there is no income limitation on taking the New York Standard deduction but there is a limitation on itemizing deductions if your Line 19 income is over $174,500. This limitation applies whether you are a state resident or non-resident. New York has decoupled from the Federal rules in limiting State and Local Taxes and Home Mortgage interest calculations. The links below should assist in determining how to enter your deductions and on what forms they will eventually flow to:
As the New York itemized deduction link shows, all deductions flow to Form IT-196, and then will flow to Forms IT-201, or IT-203, depending on residency status.
Once you have determined your allowable deduction, you will enter the amount from Form IT-196 to the appropriate line on either IT-201 for residents or IT-203 for non-residents.
