Screen NYITC - New York Investment Credit (1065)

Show all hidden content

Investment Credit

Location of qualified property
Enter the location of the investment credit qualified property in the statement. If only one line of text is entered in the statement, the text prints on Form IT-212. If more than one line of text is entered in the statement, the application prints See Statement on the form and prints the contents of this statement in an attachment to the return.
Investments in qualified property
Enter the investments made in qualified property in the statement.
If the property is used for manufacturing and production, no entry is necessary in the
R&D=X
column; the credit calculates automatically.
If the property is used in research and development, enter
X
in the
R&D=X
column. UltraTax CS calculates the credit by multiplying the
Investment Base
column by the rates and enters that amount in the credit column in the statement.
Form IT-212-ATT, Sch A, Part 2, line 11
Enter the line 11 amounts (investments in qualified rehabilitation expenditures) from Form IT-212-ATT, Claim for Historic Barn Rehabilitation Credit and Employment Incentive Credit.
Form IT-212-ATT, Sch B, Part 2, line 19
Enter the line 19 amounts (employment incentive credit) from Form IT-212-ATT, Claim for Historic Barn Rehabilitation Credit and Employment Incentive Credit.
Early dispositions of qualified property
Enter the early dispositions of qualified property in the statement. UltraTax CS automatically calculates the percent of unused life and the
Tax-Early Disp
column.
Form IT-212-ATT, Sch A, Part 3, line 12
Enter the line 12 amounts (early dispositions of qualified property) from Form IT-212-ATT, Claim for Historic Barn Rehabilitation Credit and Employment Incentive Credit.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close