NYS IT-205 Update
As discussed in our May 14, 2019 post, New York State retroactively changed certain income tax rules for trusts and estates as of January 1, 2018. For taxable years beginning after December 31, 2017, Form IT-205, Fiduciary Income Tax Return, permits a subtraction adjustment/deduction for taxes (other than state and local sales and income taxes) that exceed the $10,000 limitation on federal For...