NYS Decoupling - K1 EA-209 / ES-213

[waynecoo]

Hello,

I am entering in K-1's on multifamily investments I am in.  There are modifications listed in the K1: EA-209 and ES-213.  EA-209 is very substantial since Year 1 depreciation on multifamily is huge. 

I tried to enter this in "Changes to Federal Income" -> "Other New York Adjustments to Federal Income" item " Partner, Shareholder, and Beneficiary Adjustments".  When I enter in these additions and subtractions, my taxes owed skyrockets - I don't see how this can be correct, since depreciation is not real income, and it is adding amounts listed on EA-209 to my taxable income for NY.

Is there another section to enter in EA-209/ES-213 (K1 depreciation items)?  I assume it should just be a worksheet that would track passive losses/gains, similar to federal.

Thank you!

[Anonymous_]

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