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- IT- NY Fiduciary Adjustment for a Nonresident Estate Tax Return
IT- NY Fiduciary Adjustment for a Nonresident Estate Tax Return
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Seejay
Level 1
06-01-2023
05:17 PM
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I am working on a client's 2022 estate return, and I am stock on line 64 of New York State Fiduciary Return, Form IT 205- "Taxes Deducted on Federal Return" as part of the computation for NY Fiduciary Adjustment (line 70). I am using 2022 ProSeries Professional software. On line 64- $10,000 flowed over from the federal 1041 form. Since I know the total $10,000 is all property taxes, the software has a smart work sheet (on line 64) which I can use to manually adjust the amount of taxes that flowed over from the 1041 (e.g. the property taxes deductions that are not based on income).
Question: Should I make that $10,000 manual adjustment on the smart worksheet associated with line 64, given the fact that the full $10,000 is property taxes which is not associated with income?
I appreciate your feedback...
