Question

Sch A Part 2 - NY State

Forum|Forum|2 years ago
February 13, 2024
1 reply
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Hello

I made a contribution to my Trad IRA for 2023. While going through the TurboTax steps, I learn my MAGI is over the limit for IRA deductions. (Ok. Annoying. But fine.) However I now get an error, which I believe is on my NY State taxes and related to this contribution, which says I need to provide the Sch A Part 2 code. I cannot figure out how to fix this...

What is this code? How do I determine what the/my code is? I have already looked here https://www.tax.ny.gov/forms/current-forms/it/it225i.htm#addition-modifications-chart

Thank you

A

AbrahamT

The Sch A Part 2 section called which is part of the "IT225 NYS Modification on your NYS IT 201 has a list of codes associated with that section. The codes come from the K-1's you receive through your partnerships K-1'sand S corp K-1's in the way of Interest income on state and local bonds and obligations as well as Interest income on gov't bonds. and you would enter the amounts pertaining to the related code in that section.See HERE under Sch A , Part 2. For step by step instructions on how to enter these modifications in Turbotax, see HERE under Expert Irene 2805.

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