Question

New York - State Itemized Deduction vs. Federal Itemized Deduction

Accepted Answer

TaxAct^® will use the larger of your New York standard deduction or itemized deduction. The New York itemized deduction is not the same as the federal itemized deduction amount. The New York amount is reduced by the state taxes deducted on Schedule A (Form 1040) Itemized Deductions. There are also reductions if your AGI is over $100,000. This calculation is done on New York Form IT-196.

Online Navigation Instructions

From within your TaxAct return (Online), click the Tools dropdown, then click Forms Assistant.
Below the NY Forms manila folder, click + next to the Forms and Schedules manila folder.
Click Form IT-196 New York Resident, Nonresident, and Part-Year Resident Itemized Deductions.

Desktop Navigation Instructions

From within your TaxAct return (Desktop), click Forms in the options bar to view Forms Explorer (if it is not already visible).
Click New York from the dropdown in Forms Explorer, then click the Forms and Schedules dropdown.
Click Form IT-196 New York Resident, Nonresident, and Part-Year Resident Itemized Deductions.

The higher of the NY itemized deduction or NY standard deduction will be entered on Form IT-201, Line 34 or Form IT-203, Line 33.