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Screen NYAdj - New York Income and Adjustments (1040)

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Overview

Use this screen to complete Forms IT-201, IT-203, IT-398, IT-399, NYC-399, NYC-399Z, the New York Subtraction Adjustment Limitation Worksheets, and the New York College Tuition Addition and Subtraction Worksheet. If information transferred from UltraTax/1040 doesn't require additional data or coding, UltraTax/1040-NY displays it on the form only, not in the screen.

Additions

UltraTax CS uses the information entered in this section to complete portions of Forms IT-201, and IT-203.
All nonqualified tuition withdrawals / ... / Prior years' tuition additions
Use these fields to complete the New York College Tuition Addition and Subtraction Worksheet. Calculation of this addition also relies on entries made at the federal level or in the
College tuition subtraction - contributions (Force)
 and
College tuition subtraction - distribution (Force)
 fields if applicable. These fields aren't used to calculate Form IT-272, Claim for College Tuition Credit for New York State Residents. See the NYCr-2 screen for deduction / credit information related to that form. Use the
Other additions
 field in this screen to enter data for part-year New York State residents.
Franchise fee
The data sharing feature shares the franchise fee among UltraTax CS New York applications. The data sharing feature provides the franchise fee for New York State resident and nonresident partners and shareholders. The amount shown in this statement window lists all franchise fee amounts accepted via data sharing identified with their applicable form and unit number. If any New York data differs from the shared data, delete the data or enter the state data in the appropriate column. The new data displays in black and subsequent federal to state transfers don't overwrite this data. For more information, see Statements overview. Additional fee information can also be added to this statement window.
Other additions
Enter other New York additions to income in the statement dialog attached to this field. A column to indicate taxpayer / spouse / joint is available to assist in calculations for filing status optimization and the separation of taxpayer and spouse related subtractions used for separate city residency calculations. Don't enter depreciation adjustments from Form IT-399, Form IT-398, adjustments for the addition of section 179 amounts related to non-farm SUVs, additions to wages that were already entered in the
Box 14
 -
Other
 statement window in the federal W2 screen, MBT or UBT taxes entered in the
Taxes
 statement window in the federal C and F screens, or franchise fees related to K1 screens that are data-shared for New York partners and shareholders. UltraTax CS automatically adds these additions into the statement window when you print the return. Other additions to income that are added at print time include those reported in the NYK1 screen. UltraTax CS data shares additions and subtractions from other UltraTax CS New York partnership and S Corporation applications. These display on the applicable NYK1 screen.
Addition codes may differ for residents and part-year / nonresidents. Columns are provided that translate the codes used for each addition depending on the return filed. If a code doesn't appear under a particular form's column, that addition isn't applicable to the form. Codes for IRC 125 flex benefits and Health and welfare benefit fund amounts are automatically calculated based on entries made at the federal level.

Subtractions

UltraTax CS uses the information entered in this section to complete portions of Forms IT-201 and IT-203.
Pension exclusion: Taxpayer (Force) / Spouse (Force)
Use these fields to override the amount of pension and annuity income exclusion calculated by UltraTax CS. Zero (0) is a valid entry.
  • The amounts entered in these fields are still subject to a limitation of the lower of $20,000 less the taxpayer or spouse's disability income exclusion each.
  • UltraTax CS automatically limits the pension and annuity and disability income exclusions to $20,000 each for the taxpayer and spouse.
  • UltraTax CS generates a diagnostic message if the taxpayer turned 59-1/2 years old during the year.
  • Pensions that don't quality for an exclusion should use state use code
    29
     in the federal 1099-R screen.
Pension exclusion: Part-year or nonresident pension exclusion amount, New York source
Use this field to force the amount of pension exclusion sourced to New York for part-year and nonresident taxpayers.
Beneficiary of an excludable pension: Taxpayer / Spouse
Use these fields to alert UltraTax CS that the taxpayer or spouse receives the pension of a decedent who would've qualified for the pension exclusion at the time of death. UltraTax CS calculates the pension exclusion using the pension amounts entered in the federal 1099R screen less any excludable pensions entered in the preceding fields without regard to the age of the taxpayer.
Beneficiary of an excludable pension: Taxpayer or spouse will not be a beneficiary of an excludable pension in
2025
Taxpayer / Spouse
 is a beneficiary of an excludable pension fields are proforma'd from year to year. Enter
X
 in this field to prevent the fields from being proforma'd to next year.
Beneficiary of pension / Beneficiary of IRA
Enter
X
 in these fields to mark the
If received as a beneficiary
 question next to the Taxable IRA and/or Taxable pension's lines on Forms IT-201, IT-203, and IT-203-X. Entries in these fields don't affect any pension or IRA calculation. No other field or condition enters
X
 in the If received as a beneficiary questions on the forms.
College tuition subtraction - contributions / distribution (Force)
Federal amounts are used to complete the New York College Tuition Addition and Subtraction Worksheet. Account contributions are entered with state use code
24
 on the federal 1099Q screen or as a NYK1 partnership adjustment. Use these fields to force the New York College Tuition Addition and Subtraction Worksheet. The
College tuition subtraction - contributions (Force)
 field is limited to $10,000 for taxpayers filing jointly and $5,000 for all others. UltraTax CS limits the entry made in the
College tuition subtraction - contributions (Force)
 field to these thresholds. A diagnostic message displays if the overall subtraction calculated on line 3 of the New York College Tuition Addition and Subtraction Worksheet exceeds these thresholds. If an entry is made for the college tuition subtraction in the statement window attached to the
Other subtractions
 field, UltraTax CS doesn't limit the amount entered. Use the
Other subtractions
 field in this screen to enter data for part-year or nonresident New York State residents. For part-year or nonresidents, see item 33 or 34 in the Item Code column of
Other subtractions
.
Other subtractions
Enter other New York subtractions from income in the statement window attached to this field. A column to indicate taxpayer / spouse / joint is available to assist in calculations for filing status optimization and the separation of taxpayer and spouse related subtractions used for separate city residency calculations. Don't enter depreciation adjustments from Form IT-399, Form IT-398, or the disability income exclusion from Form IT-221. UltraTax CS automatically enters these subtractions in the statement when you print the return. Other subtractions from income that are made at print time include those reported in the NYC, NYF, and NYK1 screens. UltraTax CS will data share additions and subtractions from other UltraTax CS New York partnership and S Corporation applications. These will display on the applicable NYK1 screen.
Subtraction codes may differ for residents and part-year / nonresidents. Subtractions are automatically calculated based on entries made for Form IT-221 in the NYAdj-2 screen. For part-year residents and nonresidents, military wage subtractions are calculated and displayed at the bottom of the New York Post Allocation Worksheet, and may be overridden by entries made in the
Adjustment to federal wages for military wages (Force)
 field in the NYNRPY screen.
  • Columns are provided that translate the codes used for each subtraction depending on the return filed. If a code doesn't appear under a particular form's column, that subtraction isn't applicable to the form.

Depreciation Adjustments for New York and New York City

Use this section to complete Forms IT-399, NYC-399, IT-398, NYC-399Z, IT-201, IT-203, and the Depreciation Worksheet for Section 168(k) Property for New York State Part-year and Nonresidents.
Form IT-399 and NYC-399 - Computation of allowable depreciation: In Service
UltraTax CS transfers ACRS depreciation information to this statement window. If you didn't enter asset data in UltraTax/1040, use this statement window to enter asset information required for the New York return.
Form IT-399 and NYC-399 - Computation of allowable depreciation: Sold
UltraTax CS transfers information concerning ACRS assets that were disposed of during the current year to the statement window attached to this field. If you didn't enter asset data in UltraTax/1040, use this statement window to enter disposition adjustment information required for the New York return.
Form IT-398 - Computation of allowable depreciation: In Service
UltraTax CS transfers all assets, except NYLZ assets, placed in service on or after 6/1/03, on which federal bonus depreciation was calculated. Enter 0% to eliminate Form 2106 and Schedule A assets.
  • Allowable depreciation for sport utility vehicles (SUVs) differs according to whether the asset is a New York eligible farm SUV or a non-farm vehicle.
  • Federal calculation for vehicles, if optimized, may result in actual expenses exceeding standard mileage. The New York calculation may appear to be higher using the standard mileage method. Please note that New York doesn't allow a switch in method between federal and state. The state depreciation, even if lower than standard mileage, must be used if the federal optimizes and uses the actual expenses.
Form IT-398 - Computation of allowable depreciation: Sold
UltraTax CS transfers all disposed assets placed in service on or after 6/1/03 that have been depreciated using federal bonus depreciation. Allowable depreciation for sport utility vehicles (SUVs) differs according to whether the asset is a New York eligible farm SUV or a non-farm vehicle.
Form NYC-399Z - Computation of allowable depreciation: Other
UltraTax CS transfers all assets, except NYLZ assets, related to federal Schedules C and F that are being depreciated with federal bonus depreciation if column NYC is calculating. If a
T/S
 code is displayed on an asset for a unit that has been designated on the federal C or F screen as a NYC code, a depreciation adjustment is calculated via Form NYC-399Z. This adjustment appears on the taxpayer's or spouse's UBT return. If the
T/S
 code isn't entered on an NYC designated unit, the adjustment appears on the taxpayer unit. If an asset is listed from a non-NYC designated unit, it's excluded from the NYC-399Z calculation.
If the asset has been designated as a New York eligible farm sport utility vehicle, it transfers to this field similar to any other asset depreciated with federal bonus depreciation. See the next field for special treatment of non-farm SUVs.
Form NYC-399Z - Computation of allowable depreciation: SUV
UltraTax CS transfers all assets designated as SUV which are not New York eligible farm SUVs, except NYLZ assets, related to federal Schedules C and F that are being depreciated with federal bonus depreciation if column NYC is calculating. If a
T/S
 code is displayed on an asset for a unit that has been designated on the federal C or F screen as a NYC city code, a depreciation adjustment is calculated via Form NYC-399Z. This adjustment appears on the taxpayer's or spouse's UBT return. If the
T/S
 code isn't entered, on an NYC designated unit, the adjustment appears on the taxpayer unit. If an asset is listed from a non-NYC designated unit, it's excluded from the NYC-399Z calculation.
New York City, for the Unincorporated Business Tax return, also requires different treatment for SUVs.
Form NYC-399Z - Computation of allowable depreciation: Sold
UltraTax CS transfers all disposed assets related to federal Schedules C and F that have been depreciated with federal bonus depreciation if NYC column is calculating. If a
T/S
 code is displayed on an asset for a unit that has been designated on the federal C or F screen as a NYC code, a depreciation adjustment is calculated via Form NYC-399Z. This adjustment appears on the taxpayer's or spouse's UBT return. If the
T/S
 code isn't entered on an NYC designated unit, the adjustment appears on the taxpayer unit. If an asset is listed from a non-NYC designated unit, it's excluded from the NYC-399Z calculation.
New York City, for the Unincorporated Business Tax return, also requires different treatment for SUVs.
Form NYC-399Z - Explanation for adjustments
Use this statement window to include explanatory text to accompany Form NYC-399Z.

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