Taxable amount of IRA distributions. If received as a beneficiary, mark an X in the box Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

This is where you needed a pro to help you out (assuming that you are not an IRA expert). But that was in the past, right? You already have the number.

1040

1040A

1040EZ

  • Wrong form…

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Business income or loss (submit a copy of federal Schedule C or C-EZ, Form 1040) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

Another one that can only be on a 1040. If you filed a 1040A or 1040EZ, this probably does not apply!

1040

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Capital gain or loss (if required, submit a copy of federal Schedule D, Form 1040) Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

1040

1040A and 1040EZ

  • Only in certain circumstances can you file a 1040A or 1040EZ with capital gains. You probably did not meet these. Go refile a 1040 and save yourself!

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Ordinary dividends. Attach Schedule B if required. 1040A by Internal Revenue Service (Ft. Chris DeMayo, IRS & Liberty Tax)

Like many on the stock market, you sometimes dabble in stocks that pay a “dividend.” We’ll ignore the details on why. Regardless, this still counts as income, however small, and needs to be reported. Finding this information can be painful, but add it all up.

If your dividend gain is over $1,500, you will also need to fill out a Schedule B form,-Interest-and-Ordinary-Dividends).

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

Once again, a walk in the park…

1040

1040A

1040EZ

  • Sorry…you used the wrong form. Go…refile…

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

The criteria is its own jungle, but you already did your federal taxes, right? Right?

1040

1040A

1040EZ

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In the amount of four thousand to five thousand rubles Law on Homosexual Propaganda by Russian Federation

Anywhere from $120-150 USD, a hefty fine and likely to never be the actual cost. Russian police operate in a system of corruption — you may end up paying less or more than the fine. The idea of bribery is rampant, and many officers will either try to take the fine for themselves and write off the ticket or overcharge you and pocket the rest. Never try to negotiate this yourself.

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Wages, salaries, tips, etc. Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

You’ve done this…hopefully…

1040:

1040A

1040EZ

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(1) Did you or your spouse maintain living quarters in NYC during 2012? (see page 13)
(2) Enter the number of days spent in NYC in 2012 (any part of a day spent in NYC is considered a day)
Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

Here we go, in flow chart form:

  • Do you live in NYC (including the boroughs) full time? Leave Item E blank*. If not, continue…

  • Did you spend more than 184 days in NYC during the year? Congrats! You might be considered a full-time resident! If you maintain (this means care for or primarily use, so business-supported condos count) a place for more than 11 months, even if you visit the city only 185 days and never the place, you are a full-time resident. Leave Item E blank.

  • If neither of the above apply and you maintain a place in NYC (again, owning/living in it does not matter, only the primary user) and spend less than 184 days in NYC, fill in the correct values.

Once again, sorry Albany.

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NYC residents and NYC part-year residents only (see page 13):
(1) Number of months you lived in NYC in 2012.
(2) Number of months your spouse lived in NYC in 2012
Resident Income Tax Return IT-201 by New York State Department of Taxation and Finance (Ft. Chris DeMayo & Liberty Tax)

Guess what: all of the boroughs count! So if you stash out in Brooklyn, the Bronx, Queens, Manhattan, or Staten Island at least part of the year, jot in the number of months.

Sorry, Niagara — this is not for you.

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