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2019 NY Form IT-201 Line 16 shows ELA adjustment when CARES Act is marked

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2019 NY Form IT-201 Line 16 shows ELA adjustment when CARES Act is marked

When CARES Act is selected the Federal return no longer calculates Form 461, and the adjustment for ELA is not reported on Schedule 1, line 8. However, New York continues to show this adjustment.

According to New York N-20-7:

"...any amendments made to the IRC after March 1, 2020, will not apply to New York State or New York City personal income tax. Therefore, any retroactive changes made to the IRC after March 1, 2020, should not be taken into account when filing your 2019 New York State personal income tax return."

In Lacerte

When the CARES Act checkbox in Screen 3, Miscellaneous Info is checked, the Federal return will not complete Form 461 and the adjustment does not flow to Schedule 1. However, because it still applies to New York, this adjustment will show on line 16.

When the CARES Act checkbox in Screen 3, Miscellaneous Info is not checked, the Federal return will complete Form 461 and the adjustment does flow to Schedule 1. Because New York reports Federal amounts, and then applies adjustments, no adjustments are necessary. This is why the adjustment does not show on line 16, it has already been included.

To view the calculation for NY adjustment amount, use the CARES Act check box to toggle the view in order to review the Federal Form 461.

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