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Accumulation distribution credit

An accumulation distribution occurs when a trust distributes income that it received in a prior year, or years.

If you received an accumulation distribution as a beneficiary of a trust, you may be allowed an accumulation distribution credit for your share of:

  •   New York State income taxes paid by the trust, and
  •   any income tax imposed on the trust by another state, political subdivision within that state, or District of
For more information about this credit, see Form IT-201-ATT, Other Tax Credits and Taxes, and its instructions in Form IT-201-I.
Updated: December 12, 2014