My 2020 return

Forum|Forum|5 years ago
February 17, 2021
1 reply
11 views

I completed our joint return. My NY state return has a form included IT-588 which I don't understand why it is there, When completed my instructions were to mail the return and not efile, not sure why? I also don't know why it says I have a payment due then says I don't have any refund or amount due? I'm afraid I mad an error completing the return and don't know what to do and so far not finding anything helpful on your website.

Best answer by MaryK4

New York is requiring the form to be mailed as part of your return so you did complete everything correctly. Since so many people were affected by the Coronavirus in 2020, many New Yorkers are required to mail the return this year.

Form IT-558 is a new form for tax year 2020, which adjusts your federal adjusted gross income. Certain items this year are being added back and subtracted from your federal adjusted gross income.

See New York tax law update: What you need to know

@marbf

MaryK4

Level 15

Can you check which form it is or provide the name of the form. I cannot find anything for IT-588

@marbf

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

marbfAuthor

Level 2

The name of the form is New Your State Adjustments due to Decoupling from the IRC, #IT-588.

MaryK4Answer

Level 15

Form IT-558 is a new form for tax year 2020, which adjusts your federal adjusted gross income. Certain items this year are being added back and subtracted from your federal adjusted gross income.

See New York tax law update: What you need to know

@marbf

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"