New York Fiduciary Allocation

Fiduciary Allocation
Form IT-205-A Fiduciary Allocation Tax Year 2023
IT-205-A

Department of Taxation and Finance

Fiduciary Allocation
Submit with Form IT-205

	

	23	

For the full year January 1, 2023, through December 31, 2023 or fiscal year beginning	

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

and ending

Identification number of estate or trust

Complete this form as follows:
–	 Resident estate or trust with any nonresident beneficiaries
	 If any of the income distributable to the nonresident beneficiaries is derived from New York State sources, complete
Schedules 4, 2, and 3, in that order. Then complete any of Schedules 5, 6, 7, and 8 that apply, as described below.

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However, do not complete Form IT-205-A if none of the income distributable to the nonresident beneficiaries
is derived from New York State sources, even if other income is distributable to those beneficiaries. In this case,
include a statement with Form IT-205, Fiduciary Income Tax Return, to the effect that the distributable income of the
nonresident beneficiaries consists only of income that is not taxable to nonresident individuals.

–	 Nonresident estate or trust and part-year resident trust
	 Complete Schedules 4, 2, 3, and 1, in that order. Then complete any of Schedules 5, 6, 7, and 8 that apply, as follows:
Schedules 5, 6, 7, and 8 referred to above are to be completed under the following circumstances:
	
Schedule 5 – If the estate or trust carries on business both in and out of New York State but does not maintain 	
	
	
books and records from which the New York income of the business can be determined.
	
Schedule 6 – If the estate or trust claims a deduction for New York charitable contributions.
	
Schedules 7 and 8 – If the estate or trust has gains or losses from the sale or disposition of New York property.

	

	

Instructions for completing the various schedules of this form can be found in Form IT-205-A-I, Instructions for Form IT‑205‑A.
	
	
	

Schedule 1 – Computation of New York tax of a nonresident estate
	
or trust or part-year resident trust
	 1	 Adjusted total income (or loss) (from line 30, column a; see instructions)........................................... 	
	2	Income distribution deduction (from federal Form 1041, Schedule B, line 15; submit copy of each
		  federal Schedule K-1 (Form 1041)) ................................................................................................ 	
	3	Estate tax deduction (submit computation)...................................................................................... 	
	4	Exemption (federal)...................................................................................................................... 	
	5	Total (add lines 2, 3, and 4).............................................................................................................. 	
	6	Federal taxable income of fiduciary (subtract line 5 from line 1; enter column a
		  amount on Form IT-205, page 1, line 1). .......................................................................................... 	
	7	New York modifications relating to amounts allocated to principal (see instructions). .................... 	
	8	Balance (line 6 and add or subtract line 7)......................................................................................... 	
	9	Fiduciary’s share of New York fiduciary adjustment (from Form IT-205; see instructions).................. 	
	10	 New York taxable income of fiduciary (line 8, and add or subtract line 9; see instructions)................... 	
	11	 New York State base tax on line 10 amount (see instructions)....................................................... 	
	12	 Income percentage - income percentage may be greater than 100% (see instructions)................ 	
	13	 Allocated New York State tax (multiply line 11 by the decimal on line 12; enter here and
		  on Form IT-205, line 9).................................................................................................................. 	

a	
Total federal	
amount	

1	

a	
b	
Fiduciary	
Totals	

Shares of federal distributable
net income (see instructions)
1	2
Amount	
Percentage

	
	
	

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.00
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.00

6	
7	
8	
9	
10	
11	
12	

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.00	
.00	
.00	

.00
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.00
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.00

13	

.00

3	4
Shares of income	
Shares of
from New York sources	
fiduciary adjustment

.00			
.00			
.00			
.00	
100%	
	

.00	
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.00	
.00	

.00	

2	
3	
4	
5	

Schedule 2 – Fiduciary’s and beneficiary’s share of income from New York State sources (see instructions)
Beneficiary - same
as on Form IT-205,
	
Schedule C
	

.00	

b
Amount from New York City
resident period

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.00
.00
.00

	 Enter the amount from Schedule 4, line 38, column a,
on Schedule 2 at the Totals line of column 1. Enter
the amount from Schedule 4, line 38, column b, on
Schedule 2 at the Totals line of column 3. Enter the
amount from Form IT-205, line 70 on Schedule 2, at
the Totals line of column 4. Enter the fiduciary’s share
of fiduciary adjustment on the New York State income
percentage worksheet, line e in Form IT-205-A-I. If the
fiduciary adjustment is a positive amount, it must be
added to income; if it is a negative amount, it must be
subtracted from income.

Schedule 3 – Nonresident beneficiary’s share of income and deduction from New York State sources (see instructions)
Beneficiary - same
as on Form IT-205,
Schedule C
a	
b	

1
Dividends from
New York sources

3
Long-term capital
gain from
New York property

2
Short-term capital
gain from
New York property

.00	
.00	

.00	
.00	

4
Other taxable income
from New York sources

.00	
.00	

Nonresident beneficiaries must report items of income and deduction stated on Schedule 3 on lines 1 through 18 of
  their New York State returns as items derived from or connected with New York State sources.

5
Other deductions
from New York
sources

.00
.00

(see instructions;
submit schedule)

Page 2 of 4 IT-205-A (2023)
Schedule 4 – Details of federal distributable net income and amounts from New York State sources (see instructions)
	 a – Federal amount	
b – Amount of column a	 c – Amount of column a	
		 from New York sources	
for New York City	
			
resident period	

Lines 14 through 30, column a are similar to entries
on federal Form 1041, page 1.

d – Amount of column a
for Yonkers
resident period

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.00	
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.00	
.00	

.00	

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18	

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19	
20	
21	

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22	
	23	 Interest..............................................................	 23	
	24	 Taxes.................................................................	 24	

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32	
33	
34	

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35	

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.00

	 14	 Interest income . ...............................................	 14	
	15	 Dividends .........................................................	 15	
	16	 Business income (or loss) (submit copy of federal
		  Schedule C, Form 1040).....................................	 16	

Income

	17	 Capital gain (or loss) (submit copy of federal
		  Schedule D, Form 1041).....................................	 17	
	18	 Rents, royalties, partnerships, other estates and trusts,

Deductions

		  etc. (submit copy of federal Schedule E, Form 1040)	
	19	 Farm income (or loss) (submit copy of federal
		  Schedule F, Form 1040). ....................................	
	20	 Ordinary gain (or loss) (submit federal Form 4797)	
	21	 Other income (state nature of income)..................	
	22	 Total income (add lines 14 through 21; enter column a
		  amount on Form IT-205, page 1, item A). .................. 	

	25	 Fiduciary fees ...................................................	 25	
	26	 Charitable deduction ........................................	 26	
	27	 Attorney, accountant, and return preparer fees........	27	
	28	 Other deductions (submit schedule; see instructions)	 28	
	29	 Total (add lines 23 through 28). .............................	 29	
	30	 Adjusted total income (or loss) (subtract line 29 from line 22).	 30	

.00
.00

Lines 31 through 38, column a, are similar to entries on federal Form 1041, Schedule B.
31	 Adjusted tax-exempt interest . ............................... 	 31	
32	 Net gain shown on Schedule 7, line 75, column 1
	 
(if net loss, enter 0). ............................................... 	
33	 Enter the amount from Schedule 6, line 55 ............. 	
34	 Short-term capital gain included on Schedule 6, line 47 		
35	 If amount on line 17 above is a capital loss,
	  enter amount here (as a positive figure)................. 	

36	 Total (add lines 30 through 35). .................................. 	 36	
37	 If amount on line 17 above is a capital gain,
	  enter that amount here....................................... 	 37	
38	 Distributable net income (subtract line 37 from
	  line 36) - Enter column a amount as total of
	
  Schedule 2, column 1 and enter column b
	
  amount on Schedule 2, column 3, Totals line .... 	 38	

Schedule 5 – Formula basis allocation of business income. Complete if business is carried on both in and out of New York State
	
(submit list giving locations and descriptions of all places, both in and out of New York State, where you carry on business).

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Items used as factors

	
39	
40	
41	
41a	
42	
43	

Property percentage (see instructions)
Real property owned .............................................................	 39	
Real property rented from others ..........................................	 40	
Tangible personal property owned ........................................	 41	
Tangible personal property rented from others.......................	 41a	
Property percentage (add lines 39 through 41a; see instructions).	 42	
Payroll percentage (see instructions)........................................	 43	

	1	
	 Totals - inside and out of	
	
New York State	

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.00	

2
New York State
amounts

3
Percent
column 2
is of column 1

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.00
.00 	
.00 	
.00 	
.00 	

44	 Gross income percentage (see instructions).............................	 44	
45	 Total of percentages (add lines 42, 43, and 44, column 3)............................................................................................	 45 	
46	 Business allocation percentage (divide total percentage on line 45 by 3 or by actual number of percentages if less than 3)		 46	 	
	To determine
	
	 the manner shown
the amounts from New York State sources in Schedule 4, column b, apply the percentage on line 46 in
below to each item of income or deduction that is both reported in Schedule 4, column a, and required to be allocated.
.00	 ×	
.00
From line number	
$	
% =	 $	

%
%
%
%
%

IT-205-A (2023)  Page 3 of 4
Schedule 6 – Computation of New York charitable deduction

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47	 Amounts paid or permanently set aside for New York charitable purposes from gross income (see instructions)............... 	 47	
48	 Tax-exempt income from sources outside New York State allocable
	
  to New York charitable contribution............................................................................. 	 48	

49	
50	
51	
52	
53	
54	
55	
56	
57	
58	

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Lines 49 through 53 intentionally left blank.............................................................................
................................................................................................................................................		
................................................................................................................................................
................................................................................................................................................
........................................................................................................................................................................................... 	 53
Balance (subtract line 48 from line 47). ................................................................................................................................... 	 54	
Capital gains for the tax year allocated to corpus and paid or permanently set aside for New York charitable purposes	 	 55	
Add lines 54 and 55............................................................................................................................................................ 	 56	
Section 1202 exclusion allocable to capital gains paid or permanently set aside for New York charitable purposes........ 	 57	
Total (subtract line 57 from line 56).......................................................................................................................................... 	 58	

Schedule 7 – Capital gains and losses from sales or exchanges of New York capital assets (see instructions concerning tangible
	
and intangible personal property carried as business assets)

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Part 1 – Short-term capital gains and losses – assets of New York property held one year or less
	
	
	
	

a	
Kind of property and description	

b	c	 d	
e	
f
Date acquired	
Date sold	
Gross sales	
Federal cost or	
Gain (or loss)
(if necessary, submit statement of descriptive	
(mmddyyyy)	(mmddyyyy)	
price	
other basis, plus	
(column d minus column e)
details not shown below)				
expense of sale

.00	
.00	
.00	

59	

	
	

60	 Short-term capital gain (or loss) from installment sales and like-kind exchanges of New York property........................... 	
61	 Net short-term gain (or loss) from New York property derived from partnerships, S corporations, and
	  other estates or trusts .................................................................................................................................................... 	
62	 Net gain (or loss) (combine lines 59 through 61)..................................................................................................................... 	
63	 Short-term capital loss carryover (submit computation)......................................................................................................... 	
64	 Net short-term gain (or loss) (combine lines 62 and 63; enter here and on line 73).................................................................... 	

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60	

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.00

61	
62	
63	
64	

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66	

.00
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.00

67	
68	
69	
70	
71	
72	

.00
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Part 2 – Long-term capital gains and losses – assets of New York property held more than one year
65	
.00	
	
.00	
	
.00	
66	 Long-term capital gain (or loss) from installment sales and like-kind exchanges of New York property............................ 	
67	 Net long-term gain (or loss) from New York property derived from partnerships, S corporations, and
	  other estates or trusts .................................................................................................................................................... 	
68	 Capital gain distributions ................................................................................................................................................... 	
69	 Enter gain, if any, from Schedule 8, line 81........................................................................................................................ 	
70	 Net gain (or loss) (combine lines 65 through 69)..................................................................................................................... 	
71	 Long-term capital loss carryover from 2022 (submit computation)........................................................................................ 	
72	 Net long-term gain (or loss) (combine lines 70 and 71; enter here and on line 74). .................................................................... 	

Part 3 – Summary of Parts 1 and 2
	

73	 Net short-term gain (or loss) from line 64, column f ....................	 73	
74	 Net long-term gain (or loss) from line 72, column f .....................	 74	
75	 Total net gain (or loss) (line 73 and add or subtract line 74)...............	 75	

1 – Beneficiaries	

.00	
.00	
.00	

2 – Fiduciary	

.00	
.00	
.00	

3 – Total

  Enter on Schedule 4, line 17, column b, the net gain shown on line 75, column 3. If line 75, column 3, is a net loss, see instructions.

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Page 4 of 4 IT-205-A (2023)
Schedule 8 – Supplemental schedule of gains and losses from New York property (see instructions)
Part 1 – Sales or exchanges of New York property used in a trade or business and involuntary conversions from other than	
casualty and theft – property held more than one year
	
	
	
	

Submit a copy of federal Form 4684 to report involuntary conversions of New York property from casualty and theft.
a	
Kind of property	

b	c	d	e	 f	 g	h
Date acquired	
Date sold	
Gross sales	
Federal	
Federal cost or	
Loss	
Gain
(if necessary, submit	
(mmddyyyy)	
(mmddyyyy)	
price	
depreciation	
other basis, plus	
(f minus	
(d plus e
	
statement of descriptive				
allowed (or	
improvements	
the sum of	
minus f)
	
details not shown below)				
allowable) since	 and expense of	
d and e)
					
acquisition 	
sale

.00	
.00	
.00	
.00	
.00	
.00	
.00	

	76		
		
	
	

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	77	Gain, if any, from federal Form 4684, line 39......................................................................................................... 	 77				
	78	Section 1231 gain from installment sales from federal Form 6252, line 26 or line 37, or both.............................. 	 78				
	78a	 Section 1231 gain (or loss) from like-kind exchanges from federal Form 8824..................................................... 	 78a	 (		
.00)	
	79	Gain, if any, from federal Form 4797, line 32, from other than casualty or theft ................................................... 	 79				
	80	Add line 76, column g amounts, and line 78a, column g amount, and lines 76 through 79, column h amounts .... 	 80	 (		
.00)	
	81	Combine columns g and h of line 80. Enter gain (or loss) here, and on appropriate line as follows:............................................... 	 81	
	 
a)  If line 81 is a gain, enter the gain as a long-term capital gain on Schedule 7, line 69.
	 
b)  If line 81 is zero or a loss, enter that amount on line 83.

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Part 2 – Ordinary gains and losses from New York property
	
	
	

a	
Kind of property	

b	c	d	e	 f	 g	h
Date acquired	
Date sold	
Gross sales	
Federal	
Federal cost or	
Loss	
Gain
(if necessary, submit	
(mmddyyyy)	
(mmddyyyy)	
price	
depreciation	
other basis, plus	
(f minus	
(d plus e
	
statement of descriptive				
allowed (or	
improvements	
the sum of	
minus f)
	
details not shown below)				
allowable) since	 and expense of	
d and e)
					
acquisition 	
sale

	82	Ordinary gains and losses not included on lines 83 through 87 (include property held one year or less)

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	83	Loss, if any, from line 81 ....................................................................................................................................... 	 83		
	84	Gain, if any, from federal Form 4797, line 31......................................................................................................... 	 84			
	85	Net gain (or loss) from federal Form 4684, lines 31 and 38(a) ............................................................................. 	 85		
.00	
	86	Ordinary gain from installment sales from federal Form 6252, line 25 or line 36, or both .................................... 	 86			
	86a	 Ordinary gain (or loss) from like-kind exchanges from federal Form 8824 ........................................................... 	 86a	 (	
.00)	
	87	Recapture of section 179 deduction ..................................................................................................................... 	 87			
	88	Add lines 82, 83, 85, and 86a, column g amounts, and line 82 and lines 84 through 87, column h amounts ...... 	 88	 (	
.00)	
	89	Combine columns g and h of line 88. Enter gain (or loss) here and on Schedule 4, line 20, column b . ......................................... 	 89	

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