Accumulation distribution credit

If you received an accumulation distribution as a beneficiary of a trust, you may be allowed an accumulation distribution credit for your share of:

• New York State income taxes paid by the trust, and
• any income tax imposed on the trust by another state, political subdivision within that state, or District of Columbia on income sourced to the other jurisdiction.

For more information about this credit, see Form IT-201-ATT, Other Tax Credits and Taxes, and its instructions in Form IT-201-I.