Question on form nyc208 line 20

Forum|Forum|7 years ago
June 3, 2019
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I own a 2 family house in NYC and live in one apartment. TurboTax has entered the property tax for the entire building on line 20, but the NYC instructions for line 20 say "If your residence was part of a larger unit, include only the amount of real property taxes paid that can reasonably be applied to your residence."

Is TurboTax correct?

TurboTax Premier Windows

Best answer by jtv924

Hi Frank -

I'm curious about this too in regards to my 3 family. I posted a similar question and it was deleted without being answered. I called the NYS tax hotline and received two different answers - one saying use the full amount, one saying us 1/3rd. I've also asked around and nobody has a definitive answer.

If I had to guess, logically I'd say that you only apply the portion that represents the space that you occupy because your tenant can also apply for the credit based on the fact that his rent goes toward your property tax -- theoretically.

jtv924Answer

Level 2

Hi Frank -

fxprogljrAuthor

Level 3

I filed the way TurboTax filled out NYC-208 for me (showing interest for the whole property) for 1996 and got a note from NY disallowing the deduction. This year, TurboTax did the same thing so I got the instructions for the form and, the way I read it, I should only show 50% of the tax. Wanted to check with others before sending in my tax return. It would seem that TurboTax needs a correction (especially since it already knows this is a 2 family house and I live in one apartment). How can we get TurboTax to chime in here?