NY State Credit

Forum|Forum|4 years ago
April 4, 2022
1 reply
0 views

Turbo Tax has a screen where you input the Star Credit however it does not automatically reduce the amount of property taxes by this amount on the NYS Itemized deduction schedule.

LenaH

Community Manager

It is not supposed to reduce your property taxes on the NYS itemized schedule. The amount of property tax deducted flows from your federal return and you were supposed to already have adjusted your total property taxes for the STAR credit during the input on the federal screens. The amount deductible on your Schedule A is your total property taxes less any applicable credits/refunds.

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BabyJakeAuthor

Level 2

Thanks so much.is the amount of the STAR credit applied anywhere in the program or is it there for informational purposes..

BabyJakeAuthor

Level 2

It is used for informational purposes and for Form IT-119, if applicable. If you receive a notice from the Tax Department stating that your estimated STAR credit advance payment check resulted in an underpayment to you of the STAR credit, you may file Form IT-119 with your New York State personal income tax return (Form IT-201 or IT-203) to claim a refundable credit for the underpayment amount. The entire underpayment amount, as shown on the notice from the department must be claimed for the tax year in which the underpayment occurred.

@BabyJake

Thanks so much. This is very helpful!