Allocate New York State adjustments

[tozinone]

Hi,

I never received a reply to my previous request. Please advise on next steps. 

Token Number: 1230913

[MarilynG1]

If you adjusted your Federal Income by $2,302 based on amount of time you lived in New York, TurboTax wants you to indicate how much of that amount is applied to NYC or to Yonkers. 

Since you said you lived in NYC, you may want to put the whole amount in the NYC entry and leave Yonkers blank. 

@tozinone 

[tozinone]

Hi Marilyn,

Thank you for the reply. To confirm, I should apply the $2,302 to the NYC Resident Portion entry.

The two remaining fields listed under Federal Adjustment and Yonkers Resident Portion should be left empty.

What should I add in the description box? 

[AmyC]

Enter a description of the adjustments based on what it is. Review your federal return to determine what caused your adjustments. Examples of adjustments include half of the self-employment taxes you pay; self-employed health insurance premiums; contributions to certain retirement accounts (such as a traditional IRA); student loan interest paid; educator expenses, etc 

From the instructions:

Line 18: Total federal adjustments to income

Federal amount column

Enter the total adjustments to income you reported on your federal return. Write each adjustment and its amount in the Identify area on line 18. If you need more room, submit a list on a separate sheet of paper showing each adjustment and its amount.

If you did not have to file a federal return, claim the same adjustments to income that you would have claimed for federal income tax purposes.

New York State amount column

Enter that part of the federal amount that represents adjustments related to income you received as a nonresident that was derived from or connected with New York State sources.

Part-year residents

Also add that part of the federal adjustment deductible while you were a New York State resident.

Allocate to New York State any other adjustment to income that relates to wage or salary income earned partly in New York State, or to income from a business carried on both in and out of New York State, on the same basis as the income to which it relates. Some of these adjustments include IRA deduction, one-half of self-employment tax, and self-employed SEP, SIMPLE, and qualified plans.

@tozinone 

[edchen]

---

@AmyC wrote:

Allocating for the time period is great. You were NYC resident while in  NY so the numbers would match. If you have simply moved to another part of NY, they would not match.

Instructions for Form IT-201 - Tax.NY.gov step 3 is to enter adjustments from federal return.

@edchen 

---

Hi @AmyC 

Thank you for your response!

Just to confirm my understanding, you're saying that because I was a NYC resident for the same duration as I was a NY resident, I should put down the same adjustment (-$9803 = -$10000 + $256 - $59) even though that adjustment value is calculated as if I were a NY resident for the full year? On the New York state adjustments, I had to adjust the interest income on state and local bonds from $256 to $213 and the interest income on US Government bonds from -$59 to -$49 for the 10 months I lived in New York state, but I don't adjust for the allocations for NYC?

[AmyC]

Yes you adjust city and state, you said you were in NYC the whole time you were a NY resident. You want your NYC return to be correct so it should have the same adjustments as NY state.

The Instructions for Form IT-201 - Tax.NY.gov state:  Line 50: Part-year New York City resident tax

If you were a New York City resident for only part of 2023, complete Form IT-360.1, Change of City Resident Status. Enter the tax amount on line 50 and submit Form IT-360.1 with your return. For more information see Form IT-360.1-I, Instructions for Form IT-360.1.

Line 47 is for a full year resident so you can see how NYC arrives at taxable income. 

[jtaylor3215]

What does this mean and where does this come from? How do I know what this is attributed to? I don't see this number anywhere on any of my forms. 

New York Resident Deductions

Self-Employment Tax    $146 

[CatinaT1]

You are posting on a post from last tax season. Can you give us more details on your question? Are you asking about NY Resident Deductions or Self Employment tax?

[ns845]

Token# 1267669

[LenaH]

The NYS adjustment you must allocate for is the $143 in 414(h) retirement contributions. 

On the Allocate NYS Adjustments screen, you must enter the following:

• Description: 414(h) retirement contributions
• Total NY adjustments: $143
• NYC resident portion: This will depend on the amount of retirement contributions made while you lived in NYC. If you made contributions evenly throughout the year, it'd be $95 (8/12 months x 143) for the time you were a NYC resident. 

@ns845 

[ns845]

Would this still apply if the retirement amount was generated from a non NYC employer?

[LenaH]

The NYS adjustments screen should reflect where you lived when you made the contribution, not where your employer was located. 

@ns845 

[gregdelvecchio]

Hello, token number is 1279805. Thanks!

[gregdelvecchio]

If someone could please advise it would be greatly appreciated. 

I mostly just need help understanding what to put in the "description column" as it's not clear what this amount refers to in the tool. Thanks! 

Token: 1279805

@LenaH @CatinaT1 

[LenaH]

On the Allocate Federal Adjustments to Income screen, the $3,817 represents your health savings account. Since you lived in NYC for 5 months out of 12, I allocated 41.6% to the $3,817, assuming you contributed it evenly throughout the year. However, if you fully contributed to your health savings account while you were a NYC resident, then you would enter the full amount under the NYC column. If you contributed none while a NYC resident, then you would enter 0 under the NYC column. 

@gregdelvecchio