Taxable income (from line 37 on page 2) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

New York assumes that you cannot remember a number across a page, so just jot down the value your got in Line 37. Then go take a break or something — it’s about to get messy.

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Taxable income (subtract line 36 from line 35) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

The math train is coming in!

Now take your Line 35 value (clearly too cool to have a name) and subtract the value of your dependent exemptions, Line 36, from it. Easy.

This gives you the amount of income you made that the state can actually touch. in a dream word, this is low! If it is negative, put 0.

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Subtract line 34 from line 33 (if line 34 is more than line 33, leave blank) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

Take your New York adjusted gross income, Line 33 and subtract your standard/itemized deduction from it, Line 34. If this is negative, just write 0.

Why does this step exist? It takes your “income” and removes any deductions you get for living. Deductions reduce tax, so this is good!

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Dependent exemptions (not the same as total federal exemptions; see page 24) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

You or your spouse do NOT count!

Head back to Item H, where you logged your dependents. Not counting you or yourself, add one for each dependent you claimed. Write that in.

Amazingly, New York counts this differently than the federal government. It must be a joke.

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Add lines 40, 41, and 42 Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

So begins the math:

40 — NYS household credit

41 — Resident credit

42 — “Other”

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Other NYS nonrefundable credits (Form IT-201-ATT, line 7) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

Head to page 6-9 and see if anything else counts. Look for the non-refundable credits — the ones you cannot cash out as a refund. If you use another form to figure these out (usually the IT-201-ATT), attach them with the return!

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NYS household credit (page 25, table 1, 2, or 3) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

More fun. Let’s start easy: if you marked “yes” on Item C (you can be claimed as a dependent), skip this question!

If you said no…you’ll have to use some annoying tables. Here’s the setup.

Single — Table 1
Married filing separately — Table 3
Married filing jointly — Table 2
Head of household — Table 2
Widower — Table 2

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Resident credit (see page 26) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

If you earned income outside of New York and paid taxes on it, it gets harder. You’ll have to fill out a IT-112-R form and use it to compute the credit you receive for already having paid tax on some of your income. Whoo! Free(ish) money!

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Standard deduction or itemized deduction (see page 24) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

This is easier than it looks. Another flow chart.

  • Did you take the standard deduction on your federal taxes? Then take it here. Done. Check the table at the bottom for which number to write in.

  • Did you itemize? You can do the same here — complete worksheet IT-201-D. Now, compare the number from the IT-201-D to the numbers below, based on your filing status (single, etc.). Take the biggest one between the standard deduction for your filing status and the number you got on IT-201-D. Write that in.
     

Single and said “yes” on **Item C = $ 3,000

Single and and said “no” on **Item C = $7,500

Married filing jointly = $15,000

Married filing separately = $7,500

Head of household (with qualifying person) = $10,500

Qualifying widow(er) with dependent child = $15,000

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New York adjusted gross income (subtract line 32 from line 24) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

Now here’s the meat — you’ve gone from your federal adjusted gross income to your state adjusted gross income. And that’s just gross.

Take the total back at Line 24 — the combination of additions and the federal adjusted gross income. Now, subtract Line 32 — your total “subtractions.” Now jot this down — you’re halfway done!

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