mj46
Level 3

I am preparing a Fiduciary income tax return for a New York estate.  New York property was sold and a New York Real Estate Transfer Tax Return (Form TP-584) was prepared and a transfer tax was paid with that return.  Is that transfer tax a deduction on the New York income tax return?  If it is a deduction, would it be entered on the return as an estimated tax?

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sjrcpa
Level 15

No it is not estimated tax, at least the way you describe it.

More like expense of sale.


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