Form It 112 R – Fill Out and Use This PDF

The IT-112-R form is designated by the New York State Department of Taxation and Finance for residents who wish to claim a credit for taxes paid to another state, local government, or the District of Columbia. This form should be filed in conjunction with Form IT-201, IT-203, or IT-205, depending on the filer's circumstances. Failure to submit this form appropriately may delay refunds or result in penalties for those who owe taxes. For individuals aiming to optimize their tax liabilities through eligible state credit, completing and submitting the IT-112-R form is a crucial step.

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Form It 112 R PDF Details

Navigating the landscape of state taxation can prove challenging, especially for residents who have ventured beyond their home state's borders to earn their income. The IT-112-R form, instituted by the New York State Department of Taxation and Finance, serves as a beacon for those navigating these waters, offering a mechanism through which New York State residents can claim a tax credit for taxes paid to other states, local governments, or even the District of Columbia. This provision not only aims to prevent double taxation—being taxed in both New York and another state on the same income—but also facilitates a smoother process for taxpayers to accurately report their income and apply their entitled credits. The form itself is integrated into the broader tax filing process and is intended to be submitted alongside Form IT-201, IT-203, or IT-205, depending on the taxpayer's situation. Delving into the form reveals detailed sections aimed at capturing various income types and tax adjustments, all of which culminate in the computation of the resident credit. While the form serves as a crucial tool for ensuring fairness in taxation, it also underscores the complexity of state tax systems and the importance of meticulous compliance to avoid penalties or delays in refunds.

Question	Answer
Form Name	Form It 112 R
Form Length	2 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	30 sec
Other names	instr, IT-112-R, distributions, 2012

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New York State Department of Taxation and Finance

New York State Resident Credit

IT-112-R

Complete this form if you want to claim a resident credit for taxes paid to another state, local government, or the District of Columbia.

Name(s) as shown on return

Identifying number as shown on return

Submit this form 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-iling penalties.

			A			B
Part 1 – Income and adjustments (see instructions)			Amount reported on		Amount sourced to and taxed
Part 1 – Income and adjustments (see instructions)			New York State return			by other taxing authority
			New York State return			by other taxing authority

			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 beneits	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 on back)

112001120094

IT-112-R (2012) (back)

Part 2 – Computing your resident credit for taxes paid to another state, local government, or the District of Columbia

23Enter the two-letter abbreviation of the other state, including the District of Columbia,

	where tax was paid (see instructions)		23
	Also enter the locality name, if applicable	Locality name:
24	Enter the amount of income tax computed on this year’s return for the other state or
	local government (see instructions)		24	.00
25	New York State tax payable (see instructions)		25	.00

26	Divide line 22, column B, by line 22, column A (round to the fourth decimal place; see instructions) ....		26

27	Multiply line 25 by line 26		27	.00
28	Enter amount from line 24 or line 27, whichever is less (see instructions)		28	.00
29	Total line 28 amounts from additional Form(s) IT-112-R and line 44 amounts from
	Form(s) IT-112-C, if any (see instructions)		29	.00
30	Add lines 28 and 29		30	.00

Part 3 – Application of Credit
31	Tax due before credits (see instructions)	31
32	Other credits that you applied before this credit (see instructions)	32
33	Subtract line 32 from line 31	33
34	Enter the amount from line 30 or line 33, whichever is less (see instructions)	34

.00

Part 4 – Information from your return iled with the other state, local government, or the District of Columbia

You are not required to submit a copy of the return you iled with the other state or local government with Form IT-201, IT-203,

or IT-205. Submitting a copy of the other return is optional. However, you may be required to furnish a copy of the other return at a later date. Whether or not you submit a copy of the other return, you must complete this section.

35Enter the total amount of tax withheld for and/or amount of estimated tax payments made

to the other state, local government, or the District of Columbia (see instructions)

.00

36Enter the amount of overpayment, if any, shown on the return you iled with the other

state, local government, or the District of Columbia (see instructions)

37Enter the balance due, if any, shown on the return you iled with the other state,

.00

local government, or the District of Columbia (see instructions)..................................................

.00

38 Mark an X in the box if the taxes paid to the other jurisdiction were paid on a group return...........................................................

Enter the group’s EIN

112002120094

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This PDF form will need specific details; to guarantee consistency, please be sure to consider the subsequent suggestions:

1. You need to complete the IT-203 accurately, hence be mindful when filling out the areas containing these particular fields:

2. Soon after completing this step, head on to the subsequent step and enter the necessary details in all these blanks - continued on back, Wages salaries tips etc, and subtract line see instructions.

As for subtract line see instructions and continued on back, make sure that you double-check them in this section. These could be the most important fields in the document.

3. Completing Enter the twoletter abbreviation, where tax was paid see, Enter the amount of income tax, Divide line column B by line, Multiply line by line Enter, Part Application of Credit, and Tax due before credits see is essential for the next step, make sure to fill them out in their entirety. Don't miss any details!

Part number 3 of completing distributions

4. This next section requires some additional information. Ensure you complete all the necessary fields - to the other state local, Enter the total amount of tax, state local government or the, local government or the District, Mark an X in the box if the taxes, and Enter the groups EIN - to proceed further in your process!

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Form It 112 R – Fill Out and Use This PDF

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