New York 1041 adjusted gross income (AGI)

New York calculates adjusted gross income starting with federal adjusted gross income. This isn't the same as federal Form 1041, line 17, since that's the adjusted total income. Federal adjusted gross income calculates using a circular formula, as displayed on the Form 1041 instructions.
If the federal adjusted gross income is a negative amount, UltraTax CS begins with that negative amount (rather than zero), and adjusts for any modifications relating to principal and the fiduciary share of additions and subtractions. The New York AGI calculation uses only the administrative costs allowed for the federal AGI calculation.
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This calculation also displays on the New York Tax Worksheet in Forms view.

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