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On my taxes (at my option) I can either use $4,000 deduction…

on my taxes (at my...
on my taxes (at my option) I can either use $4,000 deduction or $2,000 credit for my tuition expenses. For IRS it is more benefitfor me to use $2,000 credit and for my state income tax it is more benefitial for me to use $4,000 deduction option. Can I use $2,000 credit for IRS but use $4,000 for my state income tax? Or whatever option I use - it has to be the same for both IRS and state income tax. Please provide link.
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Answered in 8 minutes by:
3/10/2018
Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 932
Experience: Former IRS Revenue Agent
Verified

I'm Fiona, former IRS revenue agent. I am looking at your question and will get back to you soon. Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP,IMTA

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Dear Customer,

NY Form IT-201 is based on Federal Form 1040 page 1. Its page 2 asks for Federal Income and Adjustments. Therefore, if we decide to use deduction, first page of federal Form 1040, the state filing needs to be true and the same as the actual federal filing. Otherwise, the information we provide to the State of New York would be falsified.

The NY Form IT-201's instruction quotation and website links are listed below.

Please feel free to follow up.

Regards,

Fiona

https://www.tax.ny.gov/pdf/current_forms/it/it201.pdf

https://www.tax.ny.gov/pdf/current_forms/it/it201i.pdf

"Lines 1 through 19 – Federal income tax

return information

The computation of your New York State (and New York City and

Yonkers) income tax is based on information you reported on

your federal income tax return, including your income and federal

adjustments to income."

Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 932
Experience: Former IRS Revenue Agent
Verified
Dr. Fiona Chen and 87 other Tax Specialists are ready to help you
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Dr. Fiona Chen
Dr. Fiona Chen
Dr. Fiona Chen, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 932
932 Satisfied Customers
Experience: Former IRS Revenue Agent

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