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andhawley1
January 24, 2022
Question

Should my NYC School Tax Credit be populating as negative?

  • January 24, 2022
  • 1 reply
  • 0 views
Last year my NYC School Tax Credit was positive giving me more of a refund, this year it is negative - taking away from my refund.

1 reply

Z
ZoltanB45
January 24, 2022

The NYC school tax credit should not be a negative amount. I understand you had the credit last year, but in case something changed, here are the 3 requirements for receiving the credit.

  1. full year or part-year New York City resident
  2. cannot be claimed as a dependent
  3. NYC taxable income of $500,000 or less

Have you printed out the IT 201 and looked at box 69 to verify it is a negative amount? Try removing the inputs regarding the credit and see if it positively or negatively affects your tax refund in NY.

 

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