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Level 1
posted Mar 15, 2021 2:46:43 PM

Where does TurboTax source the NYC School Tax Credit amount from?

TurboTax has pre-populated an amount of NYC School Tax Credit I supposedly received for 2020. I cannot find any corresponding amount on my W2

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1 Best answer
Level 15
Mar 15, 2021 3:10:21 PM

There is a NYC school tax credit (fixed amount) on line 69 of New York's Form IT-201, and NYC school tax credit (rate reduction amount) on line 69a.  Each of these are based on income information that you've entered into the TurboTax program. 

Please see Line 69 – New York City school tax credit (fixed amount) (NYC residents only) and Line 69a - NYC school tax credit (rate reduction amount) (NYC residents only) in the Instructions for Form IT-201 to see the tables these amounts are based on.

1 Replies
Level 15
Mar 15, 2021 3:10:21 PM

There is a NYC school tax credit (fixed amount) on line 69 of New York's Form IT-201, and NYC school tax credit (rate reduction amount) on line 69a.  Each of these are based on income information that you've entered into the TurboTax program. 

Please see Line 69 – New York City school tax credit (fixed amount) (NYC residents only) and Line 69a - NYC school tax credit (rate reduction amount) (NYC residents only) in the Instructions for Form IT-201 to see the tables these amounts are based on.