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Screen NYPAL - New York Instate and Passive Amounts (1040)
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Overview
Use this screen to suppress or freeze basis, at-risk, and Form IT-182 calculations and /or adjust the in-state amounts calculated as if the federal return was calculated using New York source income, expenses and adjustments. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-NY shows it on the form only, not in the screen.
Nonresident and Part-Year Passive Activity Losses
UltraTax CS uses the information entered in this section to complete basis and at-risk worksheets and Form IT-182.
Suppress Form IT-182, at-risk and basis worksheet calculations
UltraTax CS calculates Form IT-182 when federal Form 8582 would've been required had only New York source income, expense, and adjustments been used to calculate the federal return for New York part-year and nonresident taxpayers. UltraTax CS also calculates basis worksheets for partners and shareholders as well as at-risk worksheets and a Section 179 carryover worksheet for part-year and nonresident New York returns. The federal return calculates using allocation data entered for New York basis, at-risk and passive activity carryover information entered for New York and MAGI purposes, and income amounts, regardless of basis, at-risk, or passive activity loss limitation impact. Selected amounts transferred to this screen result from that process. Enter
X
to suppress the calculation. The partner and shareholder basis worksheets, at-risk worksheets, Section 179 worksheet, and Form IT-182 doesn't print with the return. Also, enter X
in the Suppress instate or PAL results below from appearing on New York Post Allocation (AGI) Worksheet
field if necessary.Freeze Form IT-182, at-risk and basis worksheet calculation results
UltraTax CS calculates basis, at-risk, and Form IT-182 amounts each time data transfers from the federal system. Enter
X
to suspend future calculation. Basis, at-risk, and Section 179 worksheets as well as Form IT-182, if sufficient data exists, print with the return as last calculated. Amounts on the Post Allocation Worksheet, Instate and / or PAL Calculated Amounts also freeze despite federal data change.Suppress instate or PAL results below from appearing on New York Post Allocation (AGI) Worksheet
Enter
X
to use allocation amounts entered on New York screens. If X
is entered, UltraTax CS updates the basis, at-risk, and Section 179 worksheets, as well as the Form IT-182, if applicable, with changed federal data; however, the amounts generated from the calculation isn't used to complete the New York Post Allocation Worksheet. UltraTax CS assumes that allocation data is entered in federal screens and calculates with federally entered allocation data (allocation is available based upon books and records). Allocation data (Real property owned
, Real property rented (x 8)
, personal property owned
, Wages and salaries
, Gross sales
, Everywhere
, and New York State
fields) entered in the NYC, NYF, and NYK1 screens isn't available to the passive activity loss / instate part-year nonresident calculation process. Both Form IT-203-A (with factors entered in the above mentioned fields), basis worksheets, at-risk worksheets, and Form IT-182 can be forced to foot by entering the allocated amount or percent via the state allocation spreadsheet available in the federal C, F, and K1 screens and forcing the full unit income / loss amount in the Amount column to be allocated in the NYC, NYF, and/or NYK1 screens.Post Allocation Worksheet - Instate Calculated Amounts
UltraTax CS uses the information entered in this section to complete portions of the New York Post Allocation Worksheet. This screen is available to New York part-year and nonresidents.
Business
New York State part-year and nonresident business income is a component of income that falls within at-risk and passive activity loss limitation / instate calculations. Non-New York business activities are removed and remaining units are used in a federal recalculation (unless a portion of the business activity is allocated to New York via the state allocation spreadsheet available in the federal C screen). If a business unit is subject to at-risk limitations, enter New York specific amounts in the federal 6198 screen or in the allocation spreadsheet related to the 6198 screen. If a business unit is further designated as passive in the federal C-2 screen, enter New York passive carryover amounts, if applicable, within the state allocation spreadsheet or on the related St CO screen. If at-risk or passive activity carryover amounts calculate this year, the amounts will proforma to next year’s St CO screen (passive carryovers) or 6198 screen (at-risk carryovers) for the applicable business unit. If the taxpayer becomes a resident of New York in the future, resident returns don't make provisions for at-risk or passive activity carryovers that differ from federal carryover amounts.
Specific information for columns follows:
- Considering Only NY Sourced Activities: The amount that appears in this column is what the federal return would have calculated had all non-New York activities been removed from the return. This is a calculating field; therefore data entry isn't permitted.
- Adjustment: Enter an amount to adjust the calculated amount, if necessary.
- Portion of Total Sourced to Taxpayer / Spouse: The calculated taxpayer amount appears in the Taxpayer column. To adjust Taxpayer/Spouse amounts for joint returns (when taxpayer and spouse separate amounts are required - NYC-1127 or split city residency, for example), enter an amount in the field provided in the Spouse column. Income and adjustments denoted with an asterisk are force fields for the spouse. Income and adjustments, not denoted with an asterisk, never have an amount assigned to the spouse.
Allocations entered in the NYC screen using the factor fields (Example:
Real property owned
, Everywhere
, and New York State
) aren't available in UltraTax/1040 during the passive activity / instate recalculation. Enter the applicable percentage at the federal level and also enter the total unit income / loss in the Amount to be allocated (Force)
field in the NYC screen to produce Form IT-203-A and, if necessary, Form IT-182 for the same return.Capital gain (loss) *
New York State part-year and nonresident capital gain (loss) is a component of income that falls within the at-risk, basis, and passive activity loss limitation / instate calculation. Non-New York capital gains and losses are removed; remaining gains and losses are used in a federal recalculation. Short and long-term capital loss carryover amounts in the federal CO screen are disregarded. Enter an adjustment in this field to include these amounts. If passive activity carryover amounts calculate this year, the amounts will proforma to next year’s St CO and/or K1-St screens for the applicable federal unit. If at-risk carryover amounts calculate this year, the amounts will proforma to next year’s 6198 screen. If, for partnership and S Corporation activities, basis carryover amounts calculate this year, the amounts will proforma to next year’s K1-5 or K1-7 screens. If the taxpayer becomes a resident of New York in the future, resident returns don't make provisions for basis, at-risk, or passive activity carryovers that differ from federal carryover amounts.
Specific information for columns follows:
- Considering Only NY Sourced Activities: The amount that appears in this column is what the federal return would have calculated had all non-New York activities been removed from the return. This is a calculating field; therefore data entry isn't permitted.
- Adjustment: Enter an amount to adjust the calculated amount, if necessary. An adjustment may be needed if a short or long-term capital loss carryover is sourced to New York.
- Portion of Total Sourced to Taxpayer / Spouse: The calculated taxpayer amount appears in the Taxpayer column. To adjust Taxpayer/Spouse amounts for joint returns (when taxpayer and spouse separate amounts are required - NYC-1127 or split city residency, for example), enter an amount in the field provided in the Spouse column. Income and adjustments denoted with an asterisk are force fields for the spouse. Income and adjustments, not denoted with an asterisk, never have an amount assigned to the spouse.
Other gain (loss) *
New York State part-year and nonresident other gain (loss) is a component of income that falls within the at-risk, basis, and passive activity loss limitation / instate calculation. Non-New York other gains and losses are removed and remaining gains and losses are used in a federal recalculation. If passive activity carryover amounts calculate this year, the amounts will proforma to next year’s St CO and/or K1-St screens for the applicable federal unit. If at-risk carryover amounts calculate this year, the amounts will proforma to next year’s 6198 screen. If, for partnership and S Corporation activities, basis carryover amounts calculate this year, the amounts will proforma to next year’s K1-5 or K1-7 screen. If the taxpayer becomes a resident of New York in the future, resident returns don't make provisions for basis, at-risk, or passive activity carryovers that differ from federal carryover amounts.
Specific information for columns follows:
- Considering Only NY Sourced Activities: The amount that appears in this column is what the federal return would have calculated had all non-New York activities been removed from the return. This is a calculating field; therefore data entry isn't permitted.
- Adjustment: Enter an amount to adjust the calculated amount, if necessary. An adjustment may be needed if a Section 1231 Nonrecaptured Loss carryover is sourced to New York, for example.
- Portion of Total Sourced to Taxpayer / Spouse: The calculated taxpayer amount appears in the Taxpayer column. To adjust Taxpayer/Spouse amounts for joint returns (when taxpayer and spouse separate amounts are required - NYC-1127 or split city residency, for example), enter an amount in the field provided in the Spouse column. Income and adjustments denoted with an asterisk are force fields for the spouse. Income and adjustments, not denoted with an asterisk, never have an amount assigned to the spouse.
Rents
New York State part-year and nonresident rent income (all federal Schedule E related income) is a component of income that falls within the at-risk, basis and passive activity loss limitation / instate calculation. Non-New York rent, farm rent, K1 and K1-T activities are removed and remaining units are used in a federal recalculation (unless a portion of the rental activity is allocated to New York via the state allocation spreadsheet available in the federal Rent, 4835, K1, and/or K1-T screens). If a rental unit is further designated (or defaults to) as passive at the federal level, enter New York passive carryover amounts, if applicable, within the state allocation spreadsheet or on the related St CO screen or K1-St screen. If passive activity carryover amounts calculate this year, the amounts will proforma to next year’s St CO screen and/or K1-St screen for the applicable federal unit. If at-risk carryover amounts calculate this year, the amounts will proforma to next year’s 6198 screen. If, for partnership and S Corporation activities, basis carryover amounts calculate this year, the amounts will proforma to next year’s K1-5 or K1-7 screen. If the taxpayer becomes a resident of New York in the future, resident returns don't make provisions for basis, at-risk, or passive activity carryovers that differ from federal carryover amounts.
Specific information for columns follows:
- Considering Only NY Sourced Activities: The amount that appears in this column is what the federal return would have calculated had all non-New York activities been removed from the return. This is a calculating field; therefore data entry isn't permitted.
- Adjustment: Enter an amount to adjust the calculated amount, if necessary.
- Portion of Total Sourced to Taxpayer / Spouse: The calculated taxpayer amount appears in the Taxpayer column. To adjust Taxpayer/Spouse amounts for joint returns (when taxpayer and spouse separate amounts are required - NYC-1127 or split city residency, for example), enter an amount in the field provided in the Spouse column. Income and adjustments denoted with an asterisk are force fields for the spouse. Income and adjustments, not denoted with an asterisk, never have an amount assigned to the spouse.
Example: Rental loss federal carryover due to MAGI, partially allowed for New York part-year resident
- Federal wages = 238,000 (138,000 NY W-2; 100,000 NJ W-2)
- Rental #1 = Loss 25,000 (sourced to New York)
- Rental #2 = Income 10,000 (sourced to New York)
- Federal rental income/loss = 0; suspended loss 15,000, unit 1
Recalculated rental income/loss New York = -6000; suspended loss 9000, unit 1, Form IT-182 prints.
Example: Rental loss permitted federal return, partially suspended for New York nonresident
- Federal wages = 100,000 (sourced to New York)
- Rental #1 = Loss 30,000 (sourced to New York)
- Rental #2 = Income 40,000 (sourced to New Jersey)
- Federal rental income/loss = 10,000; suspended loss 0; exception met, Form 8582 doesn't print
Recalculated rental income/loss New York = -25,000; suspended loss 5000, unit 1, Form IT-182 prints.
Farm
New York State part-year and nonresident farm income is a component of income that falls within the at-risk and passive activity loss limitation / instate calculation. Non-New York farm activities are removed and remaining units are used in a federal recalculation (unless a portion of the farm activity is allocated to New York via the state allocation spreadsheet available in the federal F screen). If a farm unit is subject to at-risk limitations, enter New York specific amounts in the federal 6198 screen or in the allocation spreadsheet related to the 6198 screen. If a farm unit is further designated as passive in the federal F-2 screen, enter New York passive carryover amounts, if applicable, within the state allocation spreadsheet or on the related St CO screen. If at-risk or passive activity carryover amounts calculate this year, the amounts will proforma to next year’s St CO screen (passive carryovers) or 6198 screen (at-risk carryovers) for the applicable farm unit. If the taxpayer becomes a resident of New York in the future, resident returns don't make provisions for passive activity carryovers that differ from federal carryover amounts.
Specific information for columns follows:
- Considering Only NY Sourced Activities: The amount that appears in this column is what the federal return would have calculated had all non-New York activities been removed from the return. This is a calculating field; therefore data entry isn't permitted.
- Adjustment: Enter an amount to adjust the calculated amount, if necessary.
- Portion of Total Sourced to Taxpayer / Spouse: The calculated taxpayer amount appears in the Taxpayer column. To adjust Taxpayer/Spouse amounts for joint returns (when taxpayer and spouse separate amounts are required - NYC-1127 or split city residency, for example), enter an amount in the field provided in the Spouse column. Income and adjustments denoted with an asterisk are force fields for the spouse. Income and adjustments, not denoted with an asterisk, never have an amount assigned to the spouse.
Allocations entered in the NYF screen using the factor fields (Example:
Real property owned
, Everywhere
, and New York State
) are not available in UltraTax/1040 during the passive activity / instate recalculation. Enter the applicable percentage at the federal level and also enter the total unit income / loss in the Amount to be allocated (Force)
field in the NYF screen to produce Form IT-203-A and, if necessary, Form IT-182 for the same return.Other income *
New York State part-year and nonresident other income is a component of income that falls within the basis, at-risk and passive activity loss limitation / instate calculation. Non-New York other income amounts are removed and remaining other income amounts are used in a federal recalculation. If passive activity carryover amounts calculate this year, the amounts will proforma to next year’s K1-St screen for the applicable federal unit. If at-risk carryover amounts calculate this year, the amounts will proforma to next year’s 6198 screen. If, for partnership and S Corporation activities, basis carryover amounts calculate this year, the amounts will proforma to next year’s K1-5 or K1-7 screen. If the taxpayer becomes a resident of New York in the future, resident returns don't make provisions for basis, at-risk, or passive activity carryovers that differ from federal carryover amounts.
Specific information for columns follows:
- Considering Only NY Sourced Activities: The amount that appears in this column is what the federal return would have calculated had all non-New York activities been removed from the return. This is a calculating field; therefore, data entry isn't permitted.
- Adjustment: Enter an amount to adjust the calculated amount, if necessary.
- Portion of Total Sourced to Taxpayer / Spouse: The calculated taxpayer amount appears in the Taxpayer column. To adjust Taxpayer / Spouse amounts for joint returns (when taxpayer and spouse separate amounts are required - NYC-1127 or split city residency, for example), enter an amount in the field provided in the Spouse column. Income and adjustments denoted with an asterisk are force fields for the spouse. Income and adjustments, not denoted with an asterisk, never have an amount assigned to the spouse.
Self-employment tax
The self-employed tax adjustment to income is recalculated based in part on the income amounts that appear in the
Income
fields in this screen.Specific information for columns follows:
- Considering Only NY Sourced Activities: The amount that appears in this column is what the federal return would have calculated had all non-New York activities been removed from the return. This is a calculating field; therefore data entry isn't permitted.
- Adjustment: Enter an amount to adjust the calculated amount, if necessary.
- Portion of Total Sourced to Taxpayer / Spouse: The calculated taxpayer amount appears in the Taxpayer column. To adjust Taxpayer/Spouse amounts for joint returns (when taxpayer and spouse separate amounts are required, NYC-1127 or split city residency, for example), enter an amount in the field provided in the Spouse column. This amount is a force field for the spouse (the field accepts a0(zero)).
SEP or qualified plan / Self-employed health / IRA deduction
SEP (or other qualified plan), self-employed health and IRA deductions are recalculated based in part on the income amounts included in income classified as self-employed net profit. The allocation for IRA deduction takes into consideration instate wages as they relate to worldwide wages combined with SE net profit.
Specific information for columns follows:
- Considering Only NY Sourced Activities: The amount that appears in this column is what the federal return would have calculated as SE net profit had all non-NY activities been removed from the return. This is a calculating field; therefore data entry isn't permitted.
- Adjustment: Enter an amount to adjust the calculated amount, if necessary.
- Portion of Total Sourced to Taxpayer / Spouse: The calculated taxpayer amount appears in the Taxpayer column. To adjust Taxpayer/Spouse amounts for joint returns (when taxpayer and spouse separate amounts are required, NYC-1127 or split city residency, for example), enter an amount in the field provided in the Spouse column. All adjustment to income amounts are force fields for the spouse (the field accepts a0(zero)).
Penalty on early withdrawal
Penalty on early withdrawal can be limited or allowed by at-risk and basis calculations. Specific information for columns follows:
- Considering Only NY Sourced Activities: The amount that appears in this column is what the federal return would have calculated had all non-NY activities been removed from the return. This is a calculating field; therefore data entry isn't permitted.
- Adjustment: Enter an amount to adjust the calculated amount, if necessary.
Capital Loss Carryover
Use these fields to enter New York part-year and nonresident specific capital loss carryovers. Federal capital loss carryovers aren't used for New York State column calculations for Form IT-203. When New York loss carryover amounts are entered, these amounts are used to complete the New York Capital Loss Carryover Worksheet. Remaining New York specific carryover amounts calculated on lines 8 and 13 of the worksheet proforma to next year.