new york state part year ira contribution allocation

Forum|Forum|5 years ago
March 27, 2021
1 reply
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I am filing a New York State part year resident return, and want to confirm how to allocate my IRA contribution in the Allocation Worksheet. I earned all of my W2 income while a NY resident, and other income from investments during my non-resident period. I have entered $6k in Column A (Federal) in row 17J, and think I should also enter $6k in the Column B (NYS Resident Period), and keep Columns C & D (nonresident) blank. Please let me know if you think this is entered correctly, thanks!

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MaryK4

Level 15

Your IRA contribution is allocated based on when the contribution was made- so if you lived in New York January 1 to July 31 and made the contribution in September, it would NOT be New York. If you made monthly contributions, you would allocate 7/12 of the total to New York.

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SemantaxAuthor

Level 2

Thank you. So if I'm making the contribution in 2021 for 2020, is none of the contribution deductible for 2020 in NY state? Also, if I am now a full year resident of NY, does the timing of my contribution matter any longer in NYS for my 2021 filing?

ReneeM7122

Level 9

Correct, if you're making the contribution in 2021 for 2020, none of the contribution deductible for 2020 in NY state. If you are now a full year resident of NY, the timing of my contribution doens't matter any longer in NYS for your 2021 filing, since it is NYS by default.