ny-3 ny training-2009 1 ny credits overview of ny credits ref: nys pub 99-ind individual credit...

NY-3 NY TRAINING-2009 1

NY CREDITS

OVERVIEW OF NY CREDITS REF: NYS PUB 99-IND INDIVIDUAL CREDIT INSTR

NY-3 NY TRAINING-2009 2

DETAILED INFORMATION ON NY CREDITS

CREDIT INSTRUCTIONS NY PUB 99-IND IT201 INSTR.

REFUNDABLE/NONREFUNDABLE FORM NUMBER LINE NUMBER ON IT 201 ATT CODE FOR IT 201 ATT

TAXWISE HELP F1 FROM 201 OR 201 ATT

NY-3 NY TRAINING-2009 3

CONDITIONS AND FORMS FOR CREDITS

IT 201 INSTRUCTIONS PAGE 6

NY-3 NY TRAINING-2009 4

ENTERING CREDITS ON IT 201 ATT

IT 201 INSTRUCTIONS PAGE 98

NY-3 NY TRAINING-2009 5

IT 201 ATT F1

NY-3 NY TRAINING-2009 6

NONREFUNDABLE CREDITS ON IT 201

NY-3 NY TRAINING-2009 7

HOUSEHOLD AND RESIDENT CREDITS

HOUSEHOLD CREDIT AUTOMATIC IN TAXWISE INCOME, STATUS, DEPENDENTS NONREFUNDABLE

RESIDENT CREDIT 112R INCOME TAX PAID TO ANOTHER STATE NONREFUNDABLE SEE SEPARATE RESIDENT CREDIT FILE

NY-3 NY TRAINING-2009 8

REFUNDABLE CREDITS ON IT 201

NY-3 NY TRAINING-2009 9

EMPIRE STATE CHILD CREDIT IT 213

AUTOMATIC IN TAXWISE FULL YEAR RESIDENT ONLY FEDERAL CHILD TAX CREDIT OR ADDITIONAL

CHILD TAX CREDIT OR INCOME BELOW FEDERAL CAP

CHILD AGE 4 TO 16 33% OF FEDERAL CREDIT

NY-3 NY TRAINING-2009 10

CHILD & DEPENDENT CARE CREDIT IT 216

AUTOMATIC IN TAXWISE RES, PY RES, NONRES FEDERAL RULES: USUALLY ELIMINATE

MARRIED FILING SEPARATE A PERCENTAGE OF FEDERAL CREDIT REFUNDABLE TO FULL AND PY RESIDENTS NONREFUNDABLE TO NONRESIDENTS ADDITIONAL CREDIT FOR NYC RESIDENTS

NY-3 NY TRAINING-2009 11

EARNED INCOME CREDIT IT 215

AUTOMATIC IN TAXWISE MUST CLAIM FEDERAL EIC NOT MARRIED FILING SEPARATE RES AND PY RES 30% OF FEDERAL CREDIT LESS HOUSEHOLD CREDIT ADDITIONAL CREDIT FOR NYC RESIDENTS

NY-3 NY TRAINING-2009 12

NON-CUSTODIAL PARENT EIC IT 209

NOT MARRIED FILING SEPARATE CHILD DID NOT RESIDE WITH TAXPAYER FULL YEAR RESIDENT ONLY AGE 18 OR OLDER CHILD UNDER 18 MUST PAY CHILD SUPPORT COURT ORDER AND COLLECTION UNIT ADDITIONAL CREDIT FOR NYC RESIDENTS

NY-3 NY TRAINING-2009 13

LINK TO FROM IT 201 TO IT 209

NY-3 NY TRAINING-2009 14

IT 209 REQUIRED INPUTS

NY-3 NY TRAINING-2009 15

IT 209 CREDIT CALCULATION 1

NY-3 NY TRAINING-2009 16

IT 209 CREDIT CALCULATION 2

N

N

NY-3 NY TRAINING-2009 18

NONREFUNDABLE CREDITS ON IT 201 ATT

NY-3 NY TRAINING-2009 19

ENTERING CREDITS ON IT 201 ATT

IT 201 INSTRUCTIONS PAGE 98

NY-3 NY TRAINING-2009 20

LONG TERM CARE INSURANCE IT 249

QUALIFIED POLICY

MAX ALLOWED CAPPED BASED ON AGE

CARRYOVER

RES, NONRES, PY RES

NY-3 NY TRAINING-2009 21

ENTER LONG TERM CARE INSURANCE ON SCHEDULE A

NY-3 NY TRAINING-2009 22

LINK FROM IT 201 TO IT 201 ATT

NY-3 NY TRAINING-2009 23

LINK FROM IT 201 ATT TO IT 249

NY-3 NY TRAINING-2009 24

IT 249 PAGE 1

ENTER PREMIUM VIA SCRATCH PAD

NY-3 NY TRAINING-2009 25

IT 249 PAGE 2

NY-3 NY TRAINING-2009 26

ENTER LONG TERM CARE CREDIT ON IT 201 ATT

NY-3 NY TRAINING-2009 27

LONG TERM CARE INSURANCE CREDIT ON IT 201

NY-3 NY TRAINING-2009 28

REFUNDABLE CREDITS ON IT 201 ATT

NY-3 NY TRAINING-2009 29

NURSING HOME ASSESSMENT CREDIT IT 258

ENTIRE ASSESSMENT IS REFUNDABLE

AVAILABLE ONLY TO DIRECT PAYER

MUST BE STATED SEPARATELY

NY-3 NY TRAINING-2009 30

LINK FROM IT 201 ATT TO IT 258

NY-3 NY TRAINING-2009 31

COMPLETE NURSING HOME ASSESSMENT CREDIT IT 258

NY-3 NY TRAINING-2009 32

NURSING HOME ASSESSMENT CREDIT ON IT 201 ATT

NY-3 NY TRAINING-2009 33

NURSING HOME ASSESSMENT CREDIT ON IT 201

LINE 71 MAY INCLUDE OTHER REFUNDABLE CREDITS

NY-3 NY TRAINING-2009 34

FULL YEAR RESIDENT ONLY FULL YEAR SERVICE NO PROPERTY TAX EXEMPTION FOR

SERVICE TAXPAYER AND SPOUSE MAY BOTH

QUALIFY

VOLUNTEER FIREFIGHTER AND AMBULANCE WORKER CREDIT IT 245

NY-3 NY TRAINING-2009 35

LINK FROM IT 201 ATT TO IT 245

NY-3 NY TRAINING-2009 36

VOLUNTEER FIREFIGHTER AND AMBULANCE WORKER CREDIT IT 245

NY-3 NY TRAINING-2009 37

CREDIT ON IT 201 ATT

NY-3 NY TRAINING-2009 38

MORE NY CREDITS

SEE SEPARATE FILES FOR

COLLEGE TUITION CREDIT IT 272

REAL PROPERTY TAX CREDIT IT 214

RESIDENT CREDIT IT 112R

NY-3 NY TRAINING-2009 39

CREDITS NOT AVAILABLE IN TAXWISE 2008

CLEAN HEATING FUEL IT 241

CONSERVATION EASEMENT IT 242

DEFIBRILLATOR IT 250

NY-3 NY TRAINING-2009 40

NY CREDITS

QUESTIONS?