NY 201 - Special Codes List
The New York State Form IT-201 is used by full-year residents to report their New York State and New York City income taxes. This form includes various special codes and instructions for reporting income, deductions, and credits specific to New York State tax law.
Special Codes and Their Uses
- Line 2 - New York Source Income: Enter the total New York source income of the partnership or New York S corporation. This includes income, gain, loss, or deduction connected with New York State sources, including any related Tax Law section 612 modifications.
- Line 19 - New York Modifications: On a separate sheet marked Form IT-360.1, identify each New York modification by number or description. Show the amount of each modification and submit the sheet with your return. Total all modifications and include the net figure on line 19.
- Part IV through IX - New York Source Income Only: Complete these parts using only items of income or loss derived from or connected with New York sources. This aligns with federal Form 8582 instructions for pass-through entities.
- Non-New York Source Income: Income not attributable to a business, trade, profession, or occupation carried on in New York State, or ownership of real or tangible personal property in New York State, is considered non-New York source income and may be reported differently.
Important Notes
When filing Form IT-201, ensure that all income reported is properly categorized as New York source or non-New York source. For S corporations located in tax-free NY areas under START-UP NY, shareholders must multiply their pro rata share of income by the S corporation’s applicable credit rate.
Source:
Form IT-360.1
Form IT-182
New York State Instruction
Disclaimer: Always verify information with official Federal or State Department of Revenue Forms and Instructions.