Get Ny It-230 2020-2025

Filling out the NY IT-230 form online can be straightforward when you follow a structured approach. This guide provides detailed instructions to assist you in successfully completing the form for your lump-sum distributions.

Follow the steps to fill out the NY IT-230 accurately.

1. Click ‘Get Form’ button to access the form and open it for editing.
2. Begin by entering your name as it appears on your tax return and your identification number. Ensure accuracy in these fields as they are essential for proper identification.
3. In Part 1, indicate whether you used federal Form 4972 to calculate your federal tax on lump-sum distributions. If your answer is 'Yes,' attach a copy of federal Form 4972 when you submit your return. If 'No,' you do not need to complete the form further.
4. If you answered 'Yes' and you are a resident, continue to Part 2 using information from federal Form 4972. Enter the capital gain part from federal Form 4972, Part II, line 6 on the appropriate line in Part 2.
5. Calculate the tax by multiplying the amount from Part 2 by the applicable tax rates for New York State and New York City, if necessary, and document the results in the respective columns.
6. For Part 3, if applicable for residents or part-year residents, use values from federal Form 4972, Part III. Complete the necessary calculations based on the instructions provided within that part.
7. Once all parts of the form have been filled out, review your information for accuracy. Save your changes, then you will have the option to download, print, or share the completed NY IT-230 form.

Complete your NY IT-230 document online to ensure a smooth filing process.