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pfgold
Returning Member

New York State Form IT-196, Line 44, Addition Adjustments

TurboTax entered an amount on New York State Form IT-196, Line 44, Addition Adjustments that came from another form called IT-196, Line 44, that lists four items: Item H1, I1, J3 and K4. My return shows an amount in J3 for amortization of bond premium. The color code of the entry is blue, which I believe means I entered it somewhere. It does not appear anywhere else in my Federal or New York State return, and I cannot find it in the Interview questions. Any ideas on how it got there?

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3 Replies
pfgold
Returning Member

New York State Form IT-196, Line 44, Addition Adjustments

I think I resolved my own question. I entered an amount for tax-exempt bond premiums on bonds from different states and TurboTax applied the correct portion of it to the NY State Form IT-196.

audrey8
Returning Member

New York State Form IT-196, Line 44, Addition Adjustments

I have municipal bond premiums that are taxable in NY.  Do I enter that as a subtraction or an addition to federal deductions?  

ErnieS0
Expert Alumni

New York State Form IT-196, Line 44, Addition Adjustments

Municipal bond amortization would be entered as a positive number on line 44 of IT-196. However it is an itemized deduction against income @audrey8.

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