KeshaH
Expert Alumni

Deductions & credits

Thank you for sharing your token.

 

There are two things limiting your itemized deduction in NY and therefore making the Standard Deduction more advantageous for you.

 

1. Half of your itemized deductions are NY state income taxes, which are not deductible for NY tax purposes.

2. At your income level, your itemized deduction is limited. There's an adjustment on Form 196 (itemized deductions) that's bringing your total deduction below your NY Standard Deduction.