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New York Free Printable Form IT-204 Partnership Return Tax Year 2023 for 2024 New York Partnership Tax Return

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Partnership Tax Return
Form IT-204 Partnership Return Tax Year 2023

IT-204 Department of Taxation and Finance Partnership Return See the instructions, Form IT-204-I. Legal name For calendar year 2023 and 23 ending or tax year beginning Employer identification number (EIN) NYS principal business activity Trade name of business if different from legal name above City, village, or post office Address (number and street or rural route) State ZIP code NAICS business code number (from NYS Pub 910) Principal product or service Date business started Country Section 1 – Partnership information Special conditions for filing your 2023 tax return (see instr) ............ A Mark an X in the box that applies to your entity Regular partnership Limited liability partnership (LLP) Portfolio investment partnership (see instr.) Other Limited liability company (LLC - including limited liability investment company and a limited liability trust company) B 1) Did the partnership have any income, gain, loss, or deduction derived from NY sources during the No   tax year?................................................................................................................................................. B1 Yes 2) If No, enter the number of resident partners ............................................................................................. B2 C Mark applicable box(es) Change of address Initial return Amended return Final return (submit explanation) No D 1) Is this return the result of federal audit changes? ..................................................................................... D1 Yes  If Yes : 2) Enter date of final federal determination ............................................................................... D2 3) Do you concede the federal audit changes? ........................................................................ D3 Yes No E Did you file a NYS partnership return for: 1) 2021? .................................................................................... E1 Yes No 2) 2022?..................................................................................... E2 Yes No  If No, state reason: F Number of partners 1) Article 22 ................................................................................................................ F1 2) Article 9-A .............................................................................................................. F2 3) Other ...................................................................................................................... F3 4) Total ....................................................................................................................... F4 G Does the partnership currently have tax accounts with NYS for the following taxes? 1) Sales and use tax Yes No .......... (if Yes, enter ID number)..... G1 2) Withholding tax Yes No .......... (if Yes, enter ID number)..... G2 H Did the partnership have an interest in real property located in NYS during the last three years?.................... H Yes No I Has there been a transfer or acquisition of a controlling interest in this entity during the last three years?...... I Yes No J Did the partnership engage in a like-kind transaction under IRC 1031 during the tax year?............................. J Yes No Print designee’s name Third-party designee? (see instr.) Yes No ▼  Paid Designee’s phone number Personal identification number (PIN) (   ) Email: preparer must complete (see instr.)  ▼ Preparer’s signature Date Preparer’s NYTPRIN ▼  Sign here  ▼ Signature of general partner Firm’s name (or yours, if self-employed) Preparer’s PTIN or SSN Address Employer identification number NYTPRIN excl. code Date Email: Email: Mail your return to: STATE PROCESSING CENTER, PO BOX 15198, ALBANY NY 12212-5198. 204001230094 Daytime phone number (   ) Page 2 of 9  IT-204 (2023) Section 1 – Partnership information (continued) K Did the partnership sell property during the tax year that had a deferred gain from a previous IRC 1031 or   IRC 1033 transaction? ................................................................................................................................... K Yes No L Was there a distribution of property or a transfer of a partnership interest during the tax year?....................... L Yes No M Does the partnership have a valid IRC section 754 election in place for this reporting period?........................ M Yes No N Is this partnership under audit by the IRS or has it been audited in a prior year?............................................. N Yes No O Is the partnership required to file Form DTF-686 or DTF-686-ATT for this filing period, to report a   reportable transaction, New York reportable transaction, listed transaction or registered tax shelter?.......... O Yes No   If Yes, complete and submit Form(s) DTF-686, DTF-686-ATT, and any applicable federal forms. P Did the partnership make purchases subject to sales and compensating use tax for which NYS tax   was not paid? (see instructions)........................................................................................................................ P Yes No Q Did the partnership have a financial account located in a foreign country? (see instructions) ............................. Q Yes No Section 2 – Federal ordinary business income (loss) Part 1 – Income from federal Form 1065 1 Gross receipts or sales .......................................................... 1 2 Returns and allowances ........................................................... 2 3 Subtract line 2 from line 1 .............................................................................................................. 3 4 Cost of goods sold ........................................................................................................................ 4 5 Gross profit (subtract line 4 from line 3) ............................................................................................. 5 6 Ordinary income (loss) from other partnerships, estates, and trusts (submit statement) ................. 6 7 Net farm profit (loss) (submit federal Form 1040, Schedule F) ............................................................ 7 8 Net gain (loss) from federal Form 4797, Part II, line 17 (submit federal Form 4797) ......................... 8 9 Other income (loss) (submit statement) ........................................................................................... 9 10 Total income (loss) (combine lines 5 through 9) ................................................................................ 10 Part 2 – Deductions from federal Form 1065 11 Salaries and wages (other than to partners) (less employment credits) ....................................... 11 12 Guaranteed payments to partners ................................................................................................ 12 13 Repairs and maintenance ............................................................................................................. 13 14 Bad debts ...................................................................................................................................... 14 15 Rent .............................................................................................................................................. 15 16 Taxes and licenses ........................................................................................................................ 16 17 Interest .......................................................................................................................................... 17 18 Depreciation (if required, submit federal Form 4562) ................... 18 19 Depreciation reported on federal Form 1125-A   and elsewhere on return ..................................................... 19 20 Subtract line 19 from line 18 ......................................................................................................... 20 21 Depletion (do not deduct oil and gas depletion) .................................................................................. 21 22 Retirement plans, etc .................................................................................................................... 22 23 Employee benefit programs .......................................................................................................... 23 23a Energy efficient commercial building deductions .......................................................................... 23a 24 Other deductions (submit statement) ............................................................................................... 24 25 Total deductions (add lines 11 through 17 and lines 20 through 24) ..................................................... 25 26 Ordinary business income (loss) (subtract line 25 from line 10) ........................................................ 26 204002230094 IT-204 (2023)  Page 3 of 9 Section 3 – Cost of goods sold (from federal Form 1125-A, see instructions) 27 Inventory at beginning of year ....................................................................................................... 28 Purchases ..................................................................................................................................... 29 Cost of labor .................................................................................................................................. 30 Additional IRC section 263A costs (submit statement) ..................................................................... 31 Other costs (submit statement) ........................................................................................................ 32 Total (add lines 27 through 31) .......................................................................................................... 33 Inventory at end of year ................................................................................................................ 34 Cost of goods sold (subtract line 33 from line 32) .............................................................................. 35 Methods used for valuing closing inventory (mark an X in applicable boxes) Cost 27 28 29 30 31 32 33 34 Lower of cost or market Other (specify method used and explain) 36 Was there a writedown of subnormal goods?......................................................................................................... Yes No 37a Was LIFO inventory method adopted this tax year for any goods? (If Yes, submit federal Form 970.) ....................... Yes No 37b If the LIFO inventory method was used for this tax year, enter the amount of closing inventory   computed under LIFO ............................................................................................................... 37b 38 Do the rules of IRC section 263A (for property produced or acquired for resale) apply to the partnership? ......... Yes No 39 Was there any change in determining quantities, cost, or valuations between opening and closing inventory? ...... Yes No If Yes, explain 204003230094 Page 4 of 9  IT-204 (2023) Section 4 – Balance sheets per books (from federal Form 1065, Schedule L) Assets Beginning of tax year End of tax year (a) (b) (c) (d) 40 Cash ..................................... 40 41 Trade notes and accounts   receivable ......................... 41 42 Less allowances for bad   debts ................................. 42 43 Inventories ........................... 43 44 U.S. government obligations. 44 45 Tax-exempt securities .......... 45 46 Other current assets (submit   statement) ........................... 46 47a Loans to partners (or   persons related to partners) 47a 47b Mortgage and real estate   loans ................................. 47b 48 Other investments (submit   statement) ........................... 48 49 Buildings and other   depreciable assets ........... 49 50 Less accumulated   depreciation ...................... 50 51 Depletable assets ................ 51 52 Less accumulated depletion. 52 53 Land (net any amortization) 53 54 Intangible assets   (amortizable only) ............. 54 55 Less accumulated   amortization ...................... 55 56 Other assets (submit   statement) ........................... 56 57 Total assets .......................... 57 Liabilities and capital 58 Accounts payable ................. 58 59 Mortgages, notes, bonds   payable in less than   one year ........................... 59 60 Other current liabilities   (submit statement) ............... 60 61 All nonrecourse loans .......... 61 62a Loans from partners (or   persons related to partners). 62a 62b Mortgages, notes, bonds   payable in one year or more. 62b 63 Other liabilities (submit   statement) ........................... 63 64 Partners’ capital accounts ...... 64 65 Total liabilities and capital .... 65 204004230094 Beginning of tax year End of tax year (a) (b) (c) (d) IT-204 (2023)  Page 5 of 9 Section 5 – Reconciliation of income (loss) per books with income (loss) per return (From federal   Form 1065, Schedule M-1; see instructions. If Schedule M-3 was filed, mark an X in the box   file Schedule M-3 and any related documents with Form IT-204; skip Section 5 and   continue with Section 6.) 66 Net income (loss) per books ......................................................................................................... 66 67 Income included on return not recorded on books this year, from Schedule M-1, line 2 .............. 67   Identify: 68 Guaranteed payments (other than health insurance) ................................................................... 68 69 Expenses recorded on books this year not included on return, from Schedule M-1, line 4 .......... 69 Identify: 70 Add lines 66 through 69 ................................................................................................................ 70 71 Income recorded on books this year not included on return,   from Schedule M-1, line 6 .................................................. 71 Identify: 72 Deductions included on return not charged against book   income this year, from Schedule M-1, line 7 ...................... 72 Identify: 73 Add lines 71 and 72 ...................................................................................................................... 73 74 Income (loss) (subtract line 73 from line 70) ...................................................................................... 74 Section 6 – Analysis of partners’ capital accounts (from federal Form 1065, Schedule M-2) 75 Balance at beginning of year ........................................................................................................ 76 Capital contributed – cash ............................................................................................................ 77 Capital contributed – property ....................................................................................................... 78 Net income (loss) per books ......................................................................................................... 79 Other increases ............................................................................................................................. Identify: 75 76 77 78 79 80 Add lines 75 through 79 ................................................................................................................ 80 81 Distributions – cash ................................................................ 81 82 Distributions – property .......................................................... 82 83 Other decreases .................................................................... 83 Identify: 84 Add lines 81, 82, and 83 ............................................................................................................... 84 85 Balance at end of year (subtract line 84 from line 80) ........................................................................ 85 204005230094 ; Page 6 of 9  IT-204 (2023) Section 7 – Partners’ share of income, deductions, etc. (from federal Form 1065, Schedule K) Partners’ distributive share items 86 Ordinary business income (loss) .................................................................................................. 86 87 Net rental real estate income (loss) (submit federal Form 8825) ...................................................... 87 88a Other gross rental income (loss) .......................................... 88a 88b Expenses from other rental activities ................................... 88b 89 Other net rental income (loss) (subtract line 88b from line 88a) ........................................................ 90 Guaranteed payments ................................................................................................................. 91 Interest income ............................................................................................................................ 92 Ordinary dividends ....................................................................................................................... 93 Royalties ...................................................................................................................................... 94 Net short-term capital gain (loss) (submit federal Schedule D) ......................................................... 95 Net long-term capital gain (loss) (submit federal Schedule D) .......................................................... 96 Net section 1231 gain (loss) (submit federal Form 4797) ................................................................. 97 Other income (loss) (see instructions) ............................................................................................ Identify: 89 90 91 92 93 94 95 96 97 98 Section 179 deduction (submit federal Form 4562) .......................................................................... 99 Other deductions (see instructions) ................................................................................................ Identify: 98 99 100 This line intentionally left blank .................................................................................................... 100 101 Net earnings (loss) from self-employment ................................................................................... 102 Tax-exempt income and nondeductible expenses (see instructions) .............................................. 103 Distributions – cash and marketable securities ............................................................................ 104 Distributions – other property ....................................................................................................... 105 Other items not included above that are required to be reported separately to partners (see instr.) . Identify: 101 102 103 104 105 Analysis of net income (loss) 106 Enter the amount from line 1 of the Analysis of Net Income (Loss) section on federal Form 1065 ... 106 Analysis by type of partner A B C D E F Corporate Individual Individual Partnership Exempt Nominee/other (active) (passive) organization General partners Limited partners 204006230094 IT-204 (2023)  Page 7 of 9 Section 8 – New York modifications (see instructions) 107 This line intentionally left blank 108 Total addition modifications (from Form IT-225, line 9 ) .................................................................. 108 109 This line intentionally left blank 110 Total subtraction modifications (from Form IT-225, line 18 ) ........................................................... 110 111 Additions to itemized deductions Letter Amount 111a 111b 111c Letter Amount 111d 111e 111f 112 Total additions to itemized deductions (add lines 111a through 111f ) ............................................. 112 113 Subtractions from itemized deductions Letter Amount 113a 113b 113c Letter Amount 113d 113e 113f 114 Total subtractions from itemized deductions (add lines 113a through 113f ) ................................... 114 115 This line intentionally left blank .................................................................................................. 115 Section 9 – Other information 116a 116b 116c 116d 116e New York source gross income (see instructions) ........................................................................ 116a MCTD Zone 1 allocation percentage (see instructions) ................................................................ 116b MCTD Zone 2 allocation percentage (see instructions) ................................................................ 116c Total receipts from the sale of goods by manufacturing ............................................................ 116d New York adjusted basis of qualified manufacturing property ................................................... 116e % % 117a Did the partnership sell assets subject to IRC 1060? .......................................................................................... Yes No 117b If the partnership filed a group return on behalf of any nonresident partners, enter the special   NYS identification number ..................................................................................................... 117b 117c Is this partnership a partner in another partnership or LLC? (If  Yes, list the names and EINs below;   submit additional sheets if necessary.) ................................................................................................................... Yes No Name of entity 204007230094 EIN Page 8 of 9  IT-204 (2023) Section 10 – New York allocation schedule Part 1 – List all places, both in and outside of NYS, where the partnership carries on business (submit additional sheets if necessary) Street address City and state Description (see instructions) 118 Was the books and records method used to reflect income earned in New York? (If No, complete Part 2.) ........... Yes No Part 2 – Formula basis allocation of income if books and records do not reflect income earned in New York Items used as factors A – Totals – in and outside of NYS B – New York State amounts C – Percent col. B is of col. A Property percentage (see inst.) Dollars Dollars 119 Real property owned ............. 119 119 120 Real property rented from others. 120 120 121 Tangible personal property owned. 121 121 121a Tangible personal property   rented from others 121a 121a 122 Property percentage (add lines 119    through 121a; see instructions) . 122 122 122 % 123 Payroll percentage (see instr.) 123 123 123 % 124 Gross income percentage (see instr.) 124 124 124 % 125 Total of percentages (total column C, lines 122, 123, and 124) ........................................................................... 125 % 126 Business allocation percentage (divide line 125 by three or by actual number of percentages if less than three) . 126 % Section 11 – Partners’ credit information (see instructions) Has the partnership (or an entity of which the partnership is an owner) been convicted of Bribery   Involving Public Servants and Related Offenses, Corrupting the Government, or Defrauding the   Government (NYS Penal Law Article 200 or 496, or section 195.20)? .......................................................................... Yes Part 1 – Flow-through credit bases and information rownfield redevelopment tax credit (Form IT-611, IT-611.1, and/or IT-611.2) B 127 Site preparation credit component ............................................................................................. 127 128 Tangible property credit component .......................................................................................... 128 129 On-site groundwater remediation credit component .................................................................. 129 130 This line intentionally left blank .................................................................................................. 130 131 This line intentionally left blank .................................................................................................. 131 132 This line intentionally left blank .................................................................................................. 132 QEZE tax reduction credit (Form IT-604) 133 QEZE employment increase factor ............................................................................................ 133 134 QEZE zone allocation factor ...................................................................................................... 134 135 QEZE benefit period factor ........................................................................................................ 135 Excelsior jobs program tax credit (Form IT-607) 136 Excelsior jobs tax credit component .......................................................................................... 136 137 Excelsior investment tax credit component ............................................................................... 137 138 Excelsior research and development tax credit component ...................................................... 138 139 Excelsior real property tax credit component ............................................................................ 139 139a Excelsior child care services tax credit component ................................................................... 139a 204008230094 No IT-204 (2023)  Page 9 of 9 Part 1 – Flow-through credit bases and information (continued) armers’ school tax credit (Form IT-217) F 140 Acres of qualified agricultural property ...................................................................................... 141 Acres of qualified conservation property ................................................................................... 142 Eligible school district property taxes paid ................................................................................. 143 Acres of qualified agricultural property converted to nonqualified use ...................................... Other flow-through credit bases and information Credit bases Code Amount Code Amount 144a 144d 144b 144e 144c 144f Credit information Code Information 144g 144h 144i Code Information 144j 144k 144l Part 2 – Flow-through credits, addbacks and recaptures 145 Long-term care insurance credit (Form IT-249) ........................................................................... 146a Investment credit (including employment incentive credit and historic barn rehabilitation credit; Form IT-212) . 146b Research and development – investment credit (Form IT-212) .................................................. 146c Investment credit using eligible farmer’s rate (Form IT-212) ....................................................... 147 Other flow-through credits Code Amount Code Amount 147a 147e 147b 147 f 147g 147c 147d 147h 148 Addbacks of credits and recaptures Code Amount 148a 148b 148c 140 141 142 143 145 146a 146b 146c Code Amount 148d 148e 148 f Part 3 – START-UP NY tax elimination credit information (Form IT-638) 149 START-UP NY business certificate number (Form DTF-74) ......................................................... 149 150 Year of START-UP NY business tax benefit period ................................................................... 150 151 START-UP NY area allocation factor ......................................................................................... 151 204009230094
Extracted from PDF file 2023-new-york-form-it-204.pdf, last modified August 2007

More about the New York Form IT-204 Corporate Income Tax Tax Return TY 2023

The instructions included are for partnerships completing Forms IT-204, IT-204-IP, IT-204.1, and IT-204-CP.

We last updated the Partnership Tax Return in January 2024, so this is the latest version of Form IT-204, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IT-204 directly from TaxFormFinder. You can print other New York tax forms here.

Related New York Corporate Income Tax Forms:

TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the New York Form IT-204.

Form Code Form Name
Form IT-204-LL Partnership, Limited Liability Company, and Limited Liability Partnership Filing Fee Payment Form
Form IT-204-CP New York Corporate Partner's Schedule K-1.
Form IT-204-IP New York Partnership Return
Form IT-204.1 New York Corporate Partners' Schedule K

Download all NY tax forms View all 272 New York Income Tax Forms


Form Sources:

New York usually releases forms for the current tax year between January and April. We last updated New York Form IT-204 from the Department of Taxation and Finance in January 2024.

Show Sources >

Form IT-204 is a New York Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of New York Form IT-204

We have a total of twelve past-year versions of Form IT-204 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form IT-204

Form IT-204 Partnership Return Tax Year 2023

2022 Form IT-204

Form IT-204 Partnership Return Tax Year 2022

2021 Form IT-204

Form IT-204 Partnership Return Tax Year 2021

2020 Form IT-204

Form IT-204 Partnership Return Tax Year 2020

2019 Form IT-204

Form IT-204:2019:Partnership Return:it204

2018 Form IT-204

Form IT-204:2018:Partnership Return:it204

2017 Form IT-204

Form IT-204:2017:Partnership Return:it204

2016 Form IT-204

Form IT-204:2016:Partnership Return:it204

2015 Form IT-204

Form IT-204:2015:Partnership Return:it204

Partnership Return, Description of Form IT-204. The instructions are for partnerships completing Forms IT-204, IT-204-IP, IT-204.1, and IT-204-CP. 2014 Form IT-204

Form IT-204:2014:Partnership Return:it204

Partnership Return, Description of Form IT-204. The instructions are for partnerships completing Forms IT-204, IT-204-IP, IT-204.1, and IT-204-CP. 2013 Form IT-204

Form IT-204:2013:Partnership Return:it204

2012 Form IT-204

Form IT-204:2012:Partnership Return:it204


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