NY-3 NY TRAINING-2009 1
NY PART YEAR RESIDENT
REF: NY PUB 88NY PUB 80
IT 203 INSTR
NY-3 NY TRAINING-2009 2
NY PART YEAR RESIDENT RETURN
WHEN DOES IT OCCUR?
HOW DO WE HANDLE IT?
IT 203 AND NY PUB 88, IT 203 INSTR
NY-3 NY TRAINING-2009 3
IT 203 PAGE BY PAGE PERSONAL INFORMATION FEDERAL INCOME AND ADJUSTMENTS NY ADDITIONS AND SUBTRACTIONS DEDUCTION AND EXEMPTION(S) TAX COMPUTATION NONREFUNDABLE CREDITS SALES TAX AND CONTRIBUTIONS PAYMENTS AND REFUNDABLE CREDITS TAX DUE/REFUND ADDITIONAL INFORMATION
NY-3 NY TRAINING-2009 4
PART YEAR NY RESIDENT
COMPLETE FEDERAL RETURN
USE PY RES WKT TO ALLOCATE INCOME TO STATES BASED ON DATE OF RESIDENCE CHANGE
COMPLETE PART YEAR RETURNS FOR BOTH STATES
NY-3 NY TRAINING-2009 5
PART YEAR RESIDENT EXAMPLE
JOINT RETURN BOTH UNDER 65 MOVED NY TO VT 6/1/2008 NYS WAGES $11500 VT WAGES $16500 CAPITAL GAIN 9/30/2008 $5200 MONTHLY PRIVATE PENSION $6000 BANK INTEREST ($50/MO) $600 SOCIAL SECURITY $6000 FEDERAL AGI $42,800
NY-3 NY TRAINING-2009 6
IDENTIFY BOTH PY STATES ON MAIN INFORMATION SHEET
NY-3 NY TRAINING-2009 7
USE PART YEAR RESIDENT WKT
NY-3 NY TRAINING-2009 8
PY RES WKT-INITIAL
NY-3 NY TRAINING-2009 9
PY RES WKT BEFORE CAPITAL GAIN ALLOCATION
MOVED NY TO VT 6/1/2008 CAPITAL GAIN 9/30/2008 $5200 NY NY VT VT FED FED
ENTER 5200 IN VT COLUMN
NY-3 NY TRAINING-2009 10
PY RES WKT AFTER CAPITAL GAIN ALLOCATION
MOVED NY TO VT 6/1/2008 CAPITAL GAIN 9/30/2008 $5200 NY NY VT VT FED FED
NY-3 NY TRAINING-2009 11
PY RES WKT BEFOREPENSION ALLOCATION
NY NY VT VT FED FED
$6000x7/12=$3500 ENTER 3500 IN VT COLUMN
NY-3 NY TRAINING-2009 12
PY RES WKT AFTER PENSION ALLOCATION
NY NY VT VT FED FED
ALLOCATE INTEREST AND SOCIAL SECURITY THE
SAME WAY
NY-3 NY TRAINING-2009 13
PY RES WKT ALLOCATION COMPLETED
NY VT FED
NY-3 NY TRAINING-2009 14
VERIFY PY RES WORKSHEET
NY-3 NY TRAINING-2009 15
NY IT 203 INCOME
NY-3 NY TRAINING-2009 16
IT 203 SUBTRACTIONS
NY-3 NY TRAINING-2009 17
IT 203 PENSION SUBTRACTION
FED NY
NY-3 NY TRAINING-2009 18
IT 203 NEW YORK AGI
FED NY
NY-3 NY TRAINING-2009 19
IT 203 NY TAXABLE INCOME
NY-3 NY TRAINING-2009 20
IT 203 ALLOCATION OF NY TAX
NY-3 NY TRAINING-2009 21
IT 203 SALES TAX AND CONTRIBUTIONS
NY-3 NY TRAINING-2009 22
IT 203 PAYMENTS & REFUNDABLE CREDITS
NY-3 NY TRAINING-2009 23
IT 203 TAX DUE/REFUND
NY-3 NY TRAINING-2009 24
IT 203 PY RESIDENT INFORMATION
NY-3 NY TRAINING-2009 25
IT 203 PAYMENT/REFUND INFORMATION
NY-3 NY TRAINING-2009 26
ANSWER RESIDENCE QUESTIONS P 1 IT 203
NY-3 NY TRAINING-2009 27
EFILE AUTHORIZATION
TR-579 EFILE SIGNATURE AUTHORIZATION
NY-3 NY TRAINING-2009 28
FACTORS TO BE AWARE OF ON PART YEAR RETURNS
NY-3 NY TRAINING-2009 29
CREDITS NOT AVAILABLE TO PART YEAR RESIDENTS
COLLEGE TUITION CREDIT EMPIRE STATE CHILD CREDIT NONCUSTODIAL PARENT EITC REAL PROPERTY TAX CREDIT VOLUNTEER FIREFIGHTER CREDIT
REF: NY PUB 99-IND
NY-3 NY TRAINING-2009 30
SOME CREDITS AVAILABLE TOPART YEAR RESIDENTS
CHILD AND DEPENDENT CARE: IT-216 EARNED INCOME: IT-215 LONG TERM CARE INSURANCE IT-249 HOUSEHOLD (AUTOMATIC) NURSING HOME ASSESSMENT: IT-258 RESIDENT TAX: IT-112R
Only while NY Resident
REF: NY PUB 99-IND
NY-3 NY TRAINING-2009 31
INTEREST AND DIVIDEND ADJUSTMENT
USE “STATE ADJUST” COLUMNS ON TAXWISE INTEREST AND DIVIDEND STATEMENTS ONLY FOR FULL YEAR RESIDENT RETURNS
FOR PART YEAR AND NONRESIDENT RETURNS, MANUALLY ENTER THE CORRECT AMOUNT OF
INTEREST AND DIVIDENDS DIRECTLY ON THE STATE FORMS
NY-3 NY TRAINING-2009 32
MUNI AND US GOVT INTEREST
3 MO NY RESIDENT, 9 MO NON NY RESIDENT
TAXWISE INTEREST STATEMENT
NY-3 NY TRAINING-2009 33
$600 US GOVT INTEREST SUBTRACTION
3 MO NY RES, 9 MO VT RES SCRATCH PAD FROM IT 203 LINE 27 FED
COLUMN
ENTER $150 IN NY COLUMN FED NY
NY-3 NY TRAINING-2009 34
$1200 NON NY MUNI ADDITION
NON NY BOND,$100/MO INTEREST 3 MO NY RES, 9 MO VT RES FED NY
NY-3 NY TRAINING-2009 35
PART YEAR NY RESIDENT
COMPLETE FEDERAL RETURN
USE PY RES WKT TO ALLOCATE INCOME TO STATES BASED ON DATE OF RESIDENCE CHANGE
COMPLETE PART YEAR RETURNS FOR BOTH STATES
NY-3 NY TRAINING-2009 36
PART YEAR NY RESIDENT
QUESTIONS?