SunnySpring
Level 3

But that is the problem.

For the year 2020, the Partnership's 2019 income was the basis, so that the partnership was required to make this IT-2568 estimated tax payment.

Now, the partnership did not have a positive income (a red number) in 2020, and the K-1 of Form 1065 shows a negative ordinary income (minus number).  As a result, for the year 2021, the partnership generated IT-2568E (Exempt certification) for the partners (= no estimated tax payment).

So what should I do?  This tax return  for the partner is for 2020, and the partnership didn't have a positive number as ordinary income, and  IT-2568 was created because of the positive, big, income amount of its 2019 return.

I am sorry for these questions, and I really appreciate your patience in dealing with me.  But I really need more helps from you on this issue.  After I directly asekd NYS Taxation Department, they even did not respond to me.  

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