Credit Information > NY Investment Credit tab

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Use the NY Investment Credit tab to enter investment credit information. The information entered in this tab transfers to the UltraTax/1040-NY, UltraTax/1120-NY, or UltraTax/1065-NY state return.
To open this tab, select the Credit Information button in an asset's Other tab. The NY Investment Credit tab is available only for 1040, 1120, and 1065 clients for which the NY treatment has been set up.

Fields & buttons

New York investment credit
If this asset qualifies for the New York investment credit, open the drop-down list and make the appropriate selection.
The following options are available for UltraTax/1040-NY and UltraTax/1065-NY state returns.
  • Qualified for investment credit (CT-46)
  • Qualified for investment credit, R & D rate (CT-46)
  • Early disposition
The following options are available for UltraTax/1120-NY state returns.
  • Qualified for investment credit (IT-212)
  • Qualified for investment credit, R & D rate (IT-212)
  • Early disposition
  • Brownfield qualified property
  • Brownfield recapture property
Credit amount allowed
Enter the credit amount allowed for the current asset if
Early disposition
was selected in the
New York investment credit
field. This amount transfers to the UltraTax/1040-NY, UltraTax/1120-NY, or UltraTax/1065-NY state return.

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