Partnership passthrough Input

1. Go to Income > Partnership Passthrough worksheet.
2. Expand Section 2 - Activity.
3. In Line State Passthrough entity credit, in the State Grid coded to NY, input applicable amount.
4. Calculate the return.

Note

• The IT-225 Addition item A-219 will be distributed according to Ordinary Income Distribution percentage by default.

Override the IT-653 credit and specifically allocate

1. Go to New York > Credits worksheet.
2. Expand Section 15 - Pass-through Entity Tax Credit (IT-653)
3. In Column Activity No, input applicable passthrough activity number.
4. In Column PTET Credit, input applicable NY K-1 code 653 credit amount related to the passthrough activity in step 3.
5. Repeat steps 3 and 4 for any additional passthrough K-1s received with PTET credit received.
6. Go to Beneficiaries > Specific Allocations - Other Income and ESBT Final Year worksheet.
7. In Column Beneficiary Number, input all applicable beneficiary numbers. 
8. In Column PTP Income - Decimal, input applicable decimal for each applicable partner.
9. Calculate the return.

Note

• IT-205, page 2, line 33 will be blank if 605(b)(3)(D) is selected.