New York Allocation of Estimated Tax Payments To Beneficiaries

Allocation of Estimated Tax Payments To Beneficiaries
Form IT-205-T Allocation of Estimated Tax Payments to Beneficiaries Tax Year 2023
IT-205-T

Department of Taxation and Finance

Allocation of Estimated Tax
Payments to Beneficiaries
For Jan. 1 - Dec. 31, 2023, or fiscal year beginning	

Page    of

, 2023, and ending		

Name of trust or estate (as shown on federal Form SS-4)	

	

Employer identification number

Name and title of fiduciary
Address of fiduciary (number and street or rural route)
City, village, or post office	

State	

ZIP code

.00

1	 Total amount of estimated taxes to be allocated to beneficiaries (enter here and on Form IT-205, line 31)... 	 1	
Allocation to beneficiaries (submit additional sheets if necessary; see instructions on back)
	
A	
B	
C	
			
Amount of estimated tax payment
	
Name and address of beneficiary	
Beneficiary’s identifying number(s)	
allocated to beneficiary	

2	 Column C total (including amounts from additional sheet(s), if any)
	  The amount on line 2 must equal the amount on line 1........................................ 	

Sign
here
208001230094

	 Signature of fiduciary or officer representing fiduciary	

2	

	

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D
Proration percentage

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Date

IT-205-T (2023) (back)

Instructions

Purpose of form

Additional sheets – If you are allocating a payment of estimated
taxes to more than 16 beneficiaries, list the additional beneficiaries
on an additional Form IT‑205‑T or a separate sheet. Follow the
format shown on the front of this form if you use a separate sheet
(be sure to include your name and taxpayer identification number).
If you use another Form IT‑205‑T, fill in the page box at the top right
for each form used.

How to file

Submit Form IT‑205‑T with Form IT‑205, Fiduciary Income Tax
Return, only if you are making the election with Form IT‑205.
Otherwise, file Form IT‑205‑T separately.

Line 2 – Enter on line 2 the column C total, including the total from
any separate sheet(s). If you use more than one sheet, include this
total on the last page. This combined total must equal the amount
entered on line 1.

When to file

Privacy notification

A trust or a decedent’s estate (for its final tax year) may elect under
Tax Law section 685(c)(6)(D) or (F), as applicable, to have any part
of its estimated tax payments treated as made by a beneficiary or
beneficiaries. The fiduciary must file Form IT‑205‑T to make the
election. Once made, the election is irrevocable.

Trusts must file Form IT‑205‑T on or before the 65th day after the
close of the tax year for the section 685(c)(6)(D) election to be valid.
Estates must file Form IT‑205‑T on or before the 65th day after the
close of the tax year in which the estate is terminated.
When the due date falls on a Saturday, Sunday, or legal holiday, you
may file on the next business day.

Where to file

Mail all returns to:
STATE PROCESSING CENTER
PO BOX 61000
ALBANY NY 12261-0001
Private delivery services – See Publication 55, Designated Private
Delivery Services.

Line instructions

Line 1 – Enter the total amount of estimated tax payments made by
the trust or decedent’s estate that the fiduciary elects to treat as a
payment made by the beneficiaries. This amount is treated as if paid
or credited to the beneficiaries on the last day of the tax year of the
trust or decedent’s estate.

Allocation to beneficiaries
Column A – Name and address of beneficiary
Group the beneficiaries to whom you are allocating estimated
tax payments into two categories. First, list all of the individual
beneficiaries - those who have Social Security numbers. Second, list
all of the other beneficiaries - those who have employer identification
numbers.
Column B – Beneficiary’s identifying number(s)
Enter each beneficiary’s Social Security number or employer
identification number. For those beneficiaries who may file a joint
return, you can help the New York State Tax Department credit the
proper account by providing the Social Security number, if known, of
the beneficiary’s spouse. However, this is an optional entry.
Column C – Amount of estimated tax payment allocated to
beneficiary
For each beneficiary, enter the amount of estimated income tax
payment credited to that beneficiary.
Column D – Proration percentage
For each listed beneficiary, divide the amount shown in column C by
the amount shown on line 1. Round the result to the fourth decimal
place, and enter the result as a percentage.

208002230094

New York State Law requires all government agencies that maintain
a system of records to provide notification of the legal authority
for any request for personal information, the principal purpose(s)
for which the information is to be collected, and where it will be
maintained. To view this information, visit our website, or, if you do
not have Internet access, call and request Publication 54, Privacy
Notification. See Need help? for the Web address and telephone
number.

Need help?
Visit our website at www.tax.ny.gov

•	 get information and manage your taxes online
•	 check for new online services and features
Telephone assistance
Automated income tax refund status:	

518-457-5149

Personal Income Tax Information Center:	

518-457-5181

To order forms and publications:	

518-457-5431

Text Telephone (TTY) or TDD	
  equipment users 	

Dial 7-1-1 for the
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