NYS IT-229 real property tax relief credit

[BIGPETE]

NYS IT-229 is a new form this year and is suppose to apply a credit for paying property taxes. I fill out the form completely but the credit that appears on the bottom of the form does not flow to NYS IT-201. Can anyone from NY help me out with this one? Thanks

[Ulstercaz]

after speaking with TurboTax there seems to be no solution. The IT-229 form does complete and the credit is detailed on IT-229. The issue seems to be that the credit is detailed on line 12 of IT-201-ATT before moving to line 71 of IT-201. TurboTax is not supporting IT-201-ATT therefore the credit does not reach the final return. 

the funny thing is if you enter the section >other tax credits>refundable credits the projected refund does increase to the correct amount but then it doesn’t support this section so you have to go back and the projected refund falls again. I’m not sure if turbo tax are working on a fix but I imagine this is going to affect a lot of New Yorkers 

[IntuitGabi]

This has been updated in ProSeries. Thank you!! 

[Tonylino]

The problem in Proseries with IT-229 is that when all the fields required to obtain consent to allowing the form to be used in the tax return (which is Part  of the IT-229 Form) are filled in and the taxpayer qualifies, to fully activate the Form an amount for real estate taxes must be entered.  However, there is no error message if the taxes are not entered, so the form will not activate even though Part 1 states the taxpayer qualified for the credit.  

It is easy to miss this activating and required entry.

[Coleen1]

NYS Form IT-229 - I'm trying to activate the IT-229 in proconnect.  The questions all indicate that they are overrides.  Meanwhile the "suggestions" keeps telling me that my client may qualify for the Real Estate credit, which he does.  I can't seem to get the form or the credit to generate.  Has anyone come up with a solution?  I could use it right about now.

Thanks 🙂

[Tonylino]

Hi Coleen,

I had the same problem until I realized that the real estate tax field must have an entry to activate the form.

I notified Intuit that this field is not highlighted when the form otherwise qualifies for activation.  This required field should be highlighted like any other required field on any other form.

Hope this works for you.

Tony