Get Ny Form It-112.1 2024-2025

Filling out the NY Form IT-112.1 is an essential step for New York State residents seeking a credit against separate tax on lump-sum distributions. This guide provides clear, step-by-step instructions to help users complete the form accurately and efficiently online.

Follow the steps to fill out NY Form IT-112.1.

1. Click ‘Get Form’ button to obtain the form and open it in an online editor.
2. Enter the name(s) as shown on your tax return in the designated field.
3. Fill in your identifying number as it appears on the return.
4. Indicate the jurisdiction (state or province) where the tax was paid on the ordinary income part of the lump-sum distribution.
5. Input the amount of tax imposed on the ordinary income part of the lump-sum distribution by the relevant jurisdiction.
6. Calculate the total tax payable to the above jurisdiction and enter that amount.
7. Determine the allowable credit against New York State separate tax and enter this amount.
8. If applicable, complete the back of the form regarding any credit claimed for taxes paid to a province of Canada.
9. Review all entered information for accuracy before proceeding.
10. Once complete, save changes, download the form, print it, or share it as needed.

Complete your NY Form IT-112.1 online to ensure you claim your credit without delay.