Karen Lee Posted September 3, 2009 Report Share Posted September 3, 2009 Seemed too simple. It was a very simple fed return and all seemed to flow to IT-150 and IT-2. There was nothing in the instructions to that led me to believe that it is incomplete. Thanks Karen Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted September 4, 2009 Report Share Posted September 4, 2009 To my knowledge there is no such thing as a NYC return. There are lines on the state return that compute the city tax if the client is a city resident. taxbilly Quote Link to comment Share on other sites More sharing options...
michaelmars Posted September 4, 2009 Report Share Posted September 4, 2009 THERE IS a separate NYC return for entities, including Sch C's. Send me the details! there are also separate credits available for NYC residents that will flow to the NY "IT" returns Quote Link to comment Share on other sites More sharing options...
Lion EA Posted September 4, 2009 Report Share Posted September 4, 2009 And, if client moved in or out of NYC.... Take Mike up on his offer to review. Nothing like a New Yorker to look over your shoulder on your first NY return! Quote Link to comment Share on other sites More sharing options...
Karen Lee Posted September 4, 2009 Author Report Share Posted September 4, 2009 Thank you. michaelmars, I will take you up on your offer. Will PM later today with details. Lion, TP did move into NYC mid-year however no income until in NYC. Prepared a PY return with no difference. It was really simple. Med school grad with residency in NYC in beginning July 08. Really appreciate your help. Karen Quote Link to comment Share on other sites More sharing options...
TaxCPANY Posted September 13, 2009 Report Share Posted September 13, 2009 Not only might a Form NYC-360.1 (NYC change of residence) be required, but, also an NYC-202 if this is a self-employed individual grossing over 75K (or, if less, in recording an NYC-specific NOL to use in future to your client's benefit). So, yes; it indeed seems to have been "too simple." NYC is very aggressive in enforcing its own taxes *apart* from NYS; so more "due diligence" likely needs to be exerted. VTY, TaxCPANY(C too) Quote Link to comment Share on other sites More sharing options...
joelgilb Posted September 13, 2009 Report Share Posted September 13, 2009 Lion, Just noticed that you graduated to ATX Master. CONGRATS! Quote Link to comment Share on other sites More sharing options...
Lion EA Posted September 14, 2009 Report Share Posted September 14, 2009 Thanx, Joel. I spend too much time on here and not enough time getting my clients (and me!) off extensions. But, I learn alot here and talk to nice, supportive preparers. Quote Link to comment Share on other sites More sharing options...
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