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Level 3
February 15, 2022
Question

Where do I deduct the IT229 credit on the IT196?

  • February 15, 2022
  • 7 replies
  • 27 views
Directions say that the amount of IT229 credit has to be deducted from tax on the IT196 form but there doesn't seem to be a place to subtract this.
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7 replies

Level 3
February 15, 2022

If the IT-229 is filled in correctly, it flows to the IT-201-ATT line 18, not the IT-196

NancyPAuthor
Level 3
February 15, 2022

NYS directions say that if the credit is deducted on IT 201 then it has to be subtracted from the real estate taxes claimed on IT196

NancyPAuthor
Level 3
February 17, 2022

NYS instructions for IT 196 state "If you claimed the real property tax relief credit (form IT229) THEN you must reduce the amount of real estate taxes reported on Line 6 by the amount of the property tax relief credit claimed."

I saw that the credit went to IT201 but there is no subtraction on the IT196

Level 3
February 18, 2022

I looked at all of the forms, and neither NYS or Intuit has made a place for that to be added back. I agree with you. Hopefully there is an update that will take care of this.