Hello everyone can anyone explain to me it 2105.9 line 1 and 2 the red areas on what i have to put there. Im a bit confused on this part thanks
Line 1 is the tax liability from the 2019 prior year return. Total tax meaning NYS and NYC (assuming they are a NYC resident)
Line 2 is the total of the various credits from the 2019 return that reduced the tax liability from Line 1
So the client needs to provide 2019 tax return basically in order to calculate this
Yes. I always ask for a copy of the prior year return for a new client. For things like this, for stock loss carryforwards, for NOLs, etc.
