Form It 112 C – Fill Out and Use This PDF

The IT-112-C form is a crucial document for residents of New York State who have paid taxes to a Canadian province and seek to claim a resident credit. This form, issued by the New York State Department of Taxation and Finance, assists individuals in getting credit for taxes paid across the border, thus preventing double taxation. If you've paid taxes to a province in Canada, filling out this form carefully and submitting it alongside federal Form 1116 (if applicable) is essential to ensure any refund you're entitled to is processed without delay or to avoid late-filing penalties. Make the process smoother by clicking the button below to start filling out your form.

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Form It 112 C PDF Details

For residents of New York State who have navigated the complexities of tax obligations beyond the borders of the United States, the IT-112-C form serves as a crucial instrument in ensuring proper credit for taxes paid to a Canadian province. This specifically tailored document, provided by the New York State Department of Taxation and Finance, is designed to facilitate the process of claiming a residential credit or addressing any necessary addbacks related to provincial taxes paid in Canada. Crucially, the form demands meticulous detail regarding income and adjustments, translating all figures into U.S. dollars and distinguishing between amounts reported on the New York State return and those taxed by the Canadian province. Submission requirements include coupling the IT-112-C with a copy of the federal Form 1116 when filing New York State tax forms IT-201, IT-203, or IT-205, ensuring that any refund due isn't delayed or compounded with late-filing penalties due to oversight. The structure of the form guides taxpayers through computing their resident credit or addback, detailing prior-year credits, and addressing the intricacies of offsetting the foreign taxes paid against New York State's tax liabilities. Additionally, while provision of the Canadian provincial return is optional upon initial submission, detailed information from these documents is nonetheless necessary to complete the IT-112-C accurately, underlining the intertwined nature of tax responsibilities for individuals straddling financial obligations between New York State and Canadian provinces.

Question	Answer
Form Name	Form It 112 C
Form Length	3 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	45 sec
Other names	it112c_2012_fil l_in 2012 new york state fillable forms

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New York State Department of Taxation and Finance

New York State Resident Credit for Taxes Paid to a Province of Canada

IT-112-C

Complete this form if you want to claim a resident credit or if you have an addback for taxes paid to a province of Canada.

Name(s) as shown on return

Identifying number as shown on return

Submit this form and a copy of federal Form 1116 with Form IT-201, IT-203, or IT-205. Failure to do so will delay any refund to which you may be entitled or, if you owe taxes, could result in late-filing penalties. If you are not required to file federal

Form 1116, see instructions.

Part 1 – Income and adjustments (see instructions)			A			B
			Amount reported on		Amount sourced to and taxed
	Report all amounts in U.S. dollars.		New York State return			by the Canadian province
	Report all amounts in U.S. dollars.

			Whole dollars only			Whole dollars only

1	Wages, salaries, tips, etc	1		.00	1	.00
2	Taxable interest income	2		.00	2	.00
3	Ordinary dividends	3		.00	3	.00
4	Taxable refunds, credits, or offsets of state and local
	income taxes	4		.00	4	.00
5	Alimony received	5		.00	5	.00
6	Business income or loss	6		.00	6	.00
7	Capital gain or loss	7		.00	7	.00
8	Other gains or losses	8		.00	8	.00
9	Taxable amount of IRA distributions	9		.00	9	.00
10	Taxable amount of pensions and annuities	10		.00	10	.00
11	Rental real estate, royalties, partnerships,
	S corporations, trusts, etc	11		.00	11	.00
12	Farm income or loss	12		.00	12	.00
13	Unemployment compensation	13		.00	13	.00
14	Taxable amount of social security benefits	14		.00	14	.00
15	Other income	15		.00	15	.00
16	Add lines 1 through 15	16		.00	16	.00
17	Total federal adjustments to income	17		.00	17	.00
18	Federal adjusted gross income
	(subtract line 17 from line 16)	18		.00	18	.00
19	New York adjustments (see instructions)	19		.00	19
20	New York adjusted gross income (line 18 and add or
	subtract line 19; see instructions)	20		.00	20	.00
21	Capital gain portion of lump-sum distributions (see instr.) ...	21		.00	21	.00
22	Add lines 20 and 21	22		.00	22	.00

(continued)

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Page 2 of 3 IT-112-C (2012)

Report all amounts in U.S. dollars.

Part 2 – Computing your resident credit or addback for taxes paid to a province of Canada

If any portion of the Canadian provincial income tax that entitled you to a New York State credit is claimed as a foreign tax credit on your federal return in a succeeding tax year, the amount claimed must be added back to your New York State tax liability for that succeeding tax year.

23 Enter the two-letter abbreviation of the Canadian province where tax was paid (see instr.)

24Enter the amount from federal Form 1116, line 9, pertaining to this year’s income taxes paid to

the above Canadian province (see instructions)

.00

25Enter the amount from federal Form 1116, line 12, pertaining to the reduction in foreign taxes paid to

the above Canadian province

.00

26Enter the amount from line 24 that was carried back and

	claimed as a credit for federal purposes	26	.00
27	Add lines 25 and 26			27	.00
28	Subtract line 27 from line 24			28	.00
29	Enter the amount from federal Form 1116, line 10, pertaining to carryover of taxes paid for
	prior years to the above Canadian province (submit a copy of federal Form(s) 1116)			29	.00
30	Add lines 28 and 29			30	.00
31	Enter the amount from federal Form 1116, line 22, pertaining to this year’s foreign tax credit
	for taxes paid to the above Canadian province			31	.00
32	Subtract line 31 from line 30			32	.00
33	New York State tax payable (see instructions)			33	.00

34	Divide line 22, column B, by line 22, column A (round to the fourth decimal place; see instructions)			34

35	Multiply line 33 by line 34			35	.00
36	Tentative credit (enter the lesser of line 28, 32, or 35)			36	.00
37	Enter the amount from line 29	37	.00
38	Enter the amount from line 31	38	.00
39	Subtract line 38 from line 37 (if line 38 is more than line 37, leave blank)			39	.00
40	Add lines 36 and 39			40	.00
41	Enter the prior-year(s) resident credit claimed on Form(s) IT-112-R or IT-112-C for taxes paid
	to Canadian province(s) (see instructions)			41	.00
42	If line 41 is more than line 40, subtract line 40 from line 41. This is your addback of
	resident credit (see instructions; do not make any entries on lines 43 through 50)			42	.00
43	If line 41 is less than (or equal to) line 40, subtract line 41 from line 40			43	.00
44	Enter the amount from line 36 or line 43, whichever is less (see instructions)			44	.00
45	Total line 44 amounts from additional Form(s) IT-112-C and line 28 amounts
	from Form(s) IT-112-R, if any (see instructions)			45	.00
46	Add lines 44 and 45			46	.00

Part 3 – Application of credit
47	Tax due before credits (see instructions)	47
48	Other credits that you applied before this credit (see instructions)	48
49	Subtract line 48 from line 47	49
50	Enter the amount from line 46 or line 49, whichever is less (see instructions)	50

.00

141002120094

IT-112-C (2012) Page 3 of 3

Part 4 – Information from your Canadian federal and/or provincial returns

You are not required to submit a copy of the return you filed with a province of Canada with Form IT-201, IT-203, or IT-205. Submitting a copy of the provincial return is optional. You are still required to submit a copy of federal Form 1116 (if filed). However, you may be

required to furnish a copy of your Canadian provincial return at a later date. Whether or not you submit a copy of the provincial return with Form IT-201, IT-203, or IT-205, you must complete this section.

51 Enter the amount of your provincial tax

.00

Note: For lines 52 through 55, provinces other than Quebec should use the Canada column.

52Enter your total tax payable (see instructions) ....................

53Enter the amount of your prepayments (see instructions) ....

54Enter the amount of overpayment, if any, shown on the return you filed with Canada or Quebec .......................

55Enter the balance due, if any shown on the return

you filed with Canada or Quebec (see instructions) ........

Canada

.00 52

.00 53

.00 54

.00 55

Quebec

.00

141003120094

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1. Firstly, while filling out the Form It 112 C, start with the section with the subsequent blanks:

Stage number 1 of submitting Form It 112 C

2. After filling in this step, go to the next step and enter all required particulars in all these fields - continued, Wages salaries tips etc, and subtract line see instructions.

3. In this step, look at Part Computing your resident, the above Canadian province, claimed as a credit for federal, the above Canadian province see, pertaining to the reduction in, Enter the twoletter abbreviation, Divide line column B by line, and Multiply line by line. Every one of these must be filled out with highest awareness of detail.

Part number 3 in filling out Form It 112 C

4. Filling in Multiply line by line, to Canadian provinces see, Part Application of credit, and Tax due before credits see is paramount in the next form section - make certain that you devote some time and be attentive with every single field!

to Canadian provinces see, Multiply line by line, and Tax due before credits see inside Form It 112 C

5. And finally, this last subsection is precisely what you'll want to wrap up prior to using the PDF. The blanks in question are the following: Part Information from your, Enter the amount of your, Note For lines through provinces, Canada, Quebec, Enter your total tax payable see, you filed with Canada or Quebec, and return you filed with Canada or.

Form It 112 C conclusion process explained (portion 5)

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