1041-NY: Distributable net income (DNI) percentage

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The distributable net income (DNI) percentage is used to determine the New York fiduciary adjustment for each beneficiary and is calculated on Form IT-205, Schedule C, column 4. The percentage is calculated by taking the beneficiary's portion of distributable net income divided by the amount on federal Form 1041, Schedule B, line 7. To calculate the beneficiary's portion of distributable net income, add lines 8 and 14b on the beneficiary's federal Schedule K-1.

Note: Differences can occur between the amount calculated on Form IT-205, Schedule C, column 4 and what is entered in View > Beneficiary Information > Federal tab. These differences can be due to income or expenses being allocated to corpus, the return is marked as its final year, or rounding differences.

Related topic: 1041 New York frequently asked questions

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