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Personal income tax forms corrections and changes for 2021 (Articles 22 and 30)

The following changes were not reflected on the forms for 2021 when they went to print.

If any of the following updates impact a tax form for which you are responsible for filing, and you have not yet filed such form, you must incorporate these updates when filing such form.

If you have already filed such form, and one of the following updates affects a calculation previously reported, you must file an amended form reflecting such update.

Select a tax form from the following list to identify the changes affecting that form. If a form is not listed, there have been no changes affecting that form.

IT-2658-I

On page 4, Estimated personal income tax worksheet, line 4 should read as follows:

4.  Multiply line 3 by 10.90% (.1090)

IT-209-I

On page 3, the first bullet under the Line 33 instructions should read (updated text in bold):

  • individuals 65 and over or under age 25 without a qualifying child;

IT-215-I

On page 1, the first bullet under the Line 1 instructions should read (updated text in bold):

  • individuals 65 and over or under age 25 without a qualifying child;

IT-227

On page 1, line 29 should read (updated text in bold):

29.  Firearm Violence Research Fund

IT-558

On page 6, in the Subtraction adjustments chart, adjustment number S-005, Modifications of limitations on business interest, should have an X placed in the IT-205 column.

IT-229-I

On page 1, the third bullet under Qualifying real property taxes (QRPT) should read (updated text in bold):

  • real estate taxes under IRC § 216

IT-204-I

On page 12, column 1, under General information, add the following between the existing Note: and Farm donations to food pantries credit:

Note: The partnership must provide to each partner a statement indicating the partner's distributive share of income taxes paid to other states. This statement must itemize the amounts paid to each state.

IT-204-IP-I

On page 1, column 2, add the following above line 20 instructions:

If your partnership paid income taxes to other states, it must provide you with a statement itemizing the taxes paid to each state. You will need this information in addition to the information reported on Form IT-204-IP to compute the amount of taxes to be added back on Form IT-225, New York State Modifications, including, if applicable, any addback required for the pass-through entity tax (PTET) paid to other states that was used to claim a resident tax credit.

IT-225-I

1. On page 6, column 1, under New York State addition A-201, replace the paragraph titled "S corporation shareholders:" with the following instructions:

S corporation shareholders: If you are a shareholder of a federal S corporation for which a New York S election was in effect; and that corporation deducted taxes imposed by Article 9-A (general business corporation franchise tax) of the New York State Tax Law, or state or local taxes of this or another state, political subdivision of this or another state, or the District of Columbia, then enter your pro rata share of those taxes.

S corporation shareholders and partners in partnerships: You must add back your pro rata or distributive share of the following taxes reported to you by the S corporation or partnership:

    • Any estimated payments made for PTET for the tax year that exceed the actual PTET liability for the tax year,
    • Any amounts paid on behalf of partners, members, or shareholders to states that are not substantially similar to New York State’s pass-through entity tax,
    • Any amounts paid on behalf of New York State nonresidents for pass-through entity taxes that are substantially similar to New York State’s pass-through entity tax, and
    • Any amounts paid on behalf of New York State residents for pass-through entity taxes that are substantially similar to New York State’s pass-through entity tax on income not sourced to the other state under the laws of New York State.

Do not enter any amounts required to be added back under modifications A-219 or A-220.

2. On page 8, first column, addition modification A-219 should read as follows:

A-219 Pass-through entity tax (PTET) deduction addback (IT-653, Pass-Through Entity Tax Credit)

If you claimed the PTET credit during the current tax year by filing Form IT-653, then enter the amount of the credit claimed.

Form IT-203 filers: Compute your NYS allocated amount using the same method described for modifications related to items of income, loss, gain, or deduction. See Form IT-203 filers on page 2 for details.  

IT-212 and IT-212-I

Part B of Chapter 59 of the Laws of 2022 allows fiscal year filers who are eligible farmers to claim 20% of your investment credit base on qualifying property placed in service on or after 4/1/2022. To determine if you qualify to claim 20% as an eligible farmer, see Investment tax credit: eligible farmers income test.

If you qualify to claim 20% on qualifying property for the 2021 fiscal year, use the 20% rate to compute the amount of investment credit and enter the amount in Part 3, column F on IT-212, Investment Credit.

IT-653

On page 2, column 1, under Eligibility, the last paragraph should read (updated text in bold):

Generally, you are required to add back to adjusted gross income an amount equal to the PTET credit claimed.  For more information, see Form IT-225-I, Instructions for Form IT-225.

Updated: