NYS Decouples from TCJA

The upcoming tax season is going to be very interesting.  NYS is not going to be following all of the Tax Cuts & Jobs Act provisions.  The following are a few highlights:

  • Unreimbursed business expenses will be deductible on the NYS tax return for taxpayers who itemize
  • Taxpayers do not have to choose the standard NYS deduction if they used the standard deduction on the federal tax return
  • NYS will continue dependency deduction
  • Full real estate tax deduction
  • NYS itemized deductions will still be limited based on filing status and income levels
2 replies
  1. Jim B
    Jim B says:

    Pete, to be clear on this, If I file my Federal return and utilize the Standard Deduction, I can choose either the Standard or Itemize for my NYS return?

    I thought if you choose to file utilizing the Standard Deduction or Itemize Deduction for your Federal return, you must file the same way of the NYS return?

    Thanks

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