Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

NYS tax return, how to add additional subtraction for interest income on U.S. government bonds?

jesusbowls
Level 3

Client return has savings bond interest entered on Federal Schedule B, so when I go into the NY return, line 28 on IT-201 page 2 is auto-filled with the savings bond interest amount as a subtraction to NY income (which is correct).

However, the client also has some interest that is reported from a Vanguard Federal Money Fund (which is entered on Federal Schedule B as a non-qualified dividend per the tax statement issued by Vanguard), which also qualifies as a subtraction for tax under NYS.

Normally, I would just manually fill-in line 28 IT-201 with this subtraction for the money market interest, but because it is already pre-filled with the savings bond interest, I can't figure out how to add an additional amount within the NY return.

Any suggestions?

Thank you!

0 Cheers
1 Comment 1
Accountant-Man
Level 13

On the Sch B entry line for the div, double click to get to the second page of the div. Line A 5.

** I'm still a champion... of the world! Even without The Lounge.