New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

UltraTax/1041-NY calculates New York adjusted gross income starting with federal adjusted gross income. Note that this is not the same as federal Form 1041, line 17 as that is the adjusted total income. Federal adjusted gross income is calculated using a circular formula as displayed on the Form 1041 instructions. If the federal adjusted gross income is a negative amount, UltraTax/1041-NY will start with that negative amount (rather than zero) and adjusts for any modifications relating to principal and the fiduciary share of additions and subtractions. Only the administrative costs allowed for the federal AGI calculation are used for the New York AGI calculation.

Related topic: 1041 New York frequently asked questions

Was this article helpful?

Yes No

Submit