Thursday, June 25, 2015

New York State Instructions For Form It201

Instructions for New York State's Form IT-201.


If you are a resident of New York or work in New York part time or full time, you are required by the New York State Department of Taxation and Finance to file New York income tax. Individuals required to file New York income tax have the option of printing and filing Form IT-201.


Instructions


1. Download a copy of Form IT-201 from the New York State Department of Taxation and Finance website (see Resources). A PDF version of Form IT-201 is provided, which you may fill out, print and file with the New York State Department of Taxation and Finance.


2. Provide your personal information, including your name, your spouse's name and mailing address. Provide the Social Security number for both you and your spouse, your county of residence, your school district name and code number.


3. Indicate your federal income and adjustments. Indicate your filing status, whether you itemized deductions on your current year federal income tax return, whether you can be claimed as a dependent, and how many days you have spend residing in New York State and New York City. On lines 1 through 17, indicate the amount and types of income you have received. On lines 18 and 19, compute your federal adjusted gross income.


4. Indicate any additions or subtractions to your New York income. Indicate any interest income received on New York state and local bonds, public employee retirement contributions and college savings program distributions, providing the total amount of New York additions on line 24. Indicate any state or local refunds or credits, pension payments received, state tax on social security benefits, interest on government bonds and other state deductions, providing the total amount of New York subtractions on line 33.


5. Decide whether to take the New York standard or itemized deduction. On line 34, check the appropriate box. Indicate the amount of your deduction on line 34, and perform the calculations requested on lines 35 through line 37.


6. Fill out the itemized deduction worksheet, if appropriate. Indicate any medical expenses, taxes and interest paid. Indicate any charitable gifts, casualty and theft losses and miscellaneous deductions. On lines h through p, perform the requested calculations to determine your New York State itemized deductions.


7. Perform the tax computation. On lines 38 through 46, copy the requested values from other lines and perform the requested computations to determine your New York State taxes.


8. Calculate New York City or Yonkers taxes, if appropriate. If you are a resident of New York City or Yonkers, you will need to fill out either Form IT-360.1, Form IT-201-ATT or Form Y-203 (see Resources). For lines 47 to 58, copy the requested values from the other forms to calculate your New York City or Yonkers taxes.


9. Indicate any payments or refundable credits. On lines 60a through 60h, indicate any voluntary contributions. On lines 63 through 76, perform the requested computations to calculate your payments.


10. Calculate the amount you owe and provide account information for electronic deposit or withdrawal. On lines 77 through 82, subtract any tax payments that you have paid throughout the year from the amount you owe. On line 83, provide your routing number and accounting number for automatic deposit or withdrawal.


11. Sign and file Form IT-201. The address for filing Form IT-201 depends on whether you are enclosing a payment. You can find the address for filing on the Instructions for Form IT-201 (see Resources).

Tags: Form IT-201, lines through, York State, York City, your York