Worksheet 3 for Forms IT-201 and IT-203 filers
Include only income and gains in the line calculations. If federal amounts include both income and loss items, only include the income when entering amounts. You cannot net loss transactions against gain transactions.
Do not include any payments from the Farmland Protection Program (administered by the New York State Department of Agriculture and Markets).
| Directions | Amount |
|---|---|
| 1 Add the income amounts from federal Form 1040, lines 1z, 2b, 3b, 4b, 5b, and 6b | 1._______ |
| 2 Add the income (not loss) amounts from federal Form 1040, Schedule 1, lines 1, 2a, 7, and 9 | 2._______ |
| 3 Enter the income (not loss) from federal Schedule C, line 7 | 3._______ |
| 4 Add the gain (not loss) amounts from federal Schedule D, column (h), lines 1a, 1b, 2, 3, 4, 8a, 8b, 9, 10, 11, and 13 (see instructions) | 4._______ |
| 5 Enter the amount of capital gain from federal Form 1040, line 7a, if you were not required to file federal Schedule D and have no entry on line 4 | 5._______ |
| 6 Add the amounts from federal Schedule E, lines 3, 4, 37, and 39 | 6._______ |
| 7 Enter the income (not loss) from federal Schedule F, line 9 | 7._______ |
| 8 Add the gain (not loss) amounts from federal Form 4797, column (g), lines 2 through 6, 10, and 13 through 16. If you were not required to file federal Form 4797 and have a gain (not loss) reported on federal Form 1040, Schedule 1, line 4, from federal Form 4684, enter that amount here | 8._______ |
| 9 Enter amount from federal Form 4835, line 7 | 9._______ |
| 10 Enter the code B and C amounts shown in box 14 on all federal Schedule K-1s (Form 1065) you received from partnerships that you are a partner in, less any partnership amounts from such partnerships already included in lines 1 through 8 | 10._______ |
| 11 Enter your share of S corporation gross income. IT-217 filers: Also include your share of C corporation gross income (see instructions) | 11._______ |
| 12 Federal gross income (add lines 1 through 11) | 12._______ |
| 13 Excess federal gross income (see instructions) | 13._______ |
| 14 Enter the amount (not including gross income from fishing) from federal Schedule E, line 42 | 14._______ |
| 15 Add the amounts from federal Form 4797, column (g) that represent gains from the sale of livestock used for draft, breeding, sport, or dairy purposes (see instructions) | 15._______ |
| 16 Enter the amount from line 3 that represents gross income from the production of maple syrup or cider, the sale of wine, the commercial boarding of horses, the sale of Christmas trees from a managed Christmas tree operation, or the sale of cider from a licensed farm cidery, as provided in Alcoholic Beverage Control Law § 58-c (see instructions) | 16. ______ |
| 17 Enter your share of gross income from the production of maple syrup or cider, the sale of wine, the commercial boarding of horses, the sale of Christmas trees from a managed Christmas tree operation, or the sale of cider from a licensed farm cidery, as provided in Alcoholic Beverage Control Law § 58-c, from a partnership, S corporation, or estate or trust (see instructions) | 17._______ |
| 18 IT-217 filers only: Enter your share of C corporation gross income from farming (see instructions) | 18.______ |
| 19 Gross income from farming (add line 7, and lines 14 through 18) | 19. ______ |
| 20 Divide line 19 by line 13, and round the result to the fourth decimal place (see instructions) | 20.______ |
Instructions for Worksheet 3
Line 4: Do not include any gain from federal Form 4797 reported on line 11 of federal Schedule D.
Line 11: S corporation shareholders: Obtain this information from the S corporation. Do not include any S corporation income included in lines 1 through 8.
Form IT-217 filers who are C corporation shareholders with a special gross income from farming election: If you are a shareholder of a New York C corporation that has a special gross income from farming election, include your share of the corporation's gross income. Also, include your share of the partnership's or New York S corporation's gross income that represents the partnership's and S corporation's share of a New York C corporation's gross income, where that New York C corporation has a special gross income from farming election (obtain this information from the partnership and S corporation).
Line 13:
Form IT-212, IT-217, or IT-649 filers: Complete the Excess Gross Income Worksheet. Subtract the last line of the Excess Gross Income Worksheet from line 12 and enter the result here.
Form IT-647 or IT-661 filers: Subtract $30,000 from line 12 and enter the result here. If line 12 is less than $30,000, enter 0.
Line 15: Do not include any other gains or losses reported on federal Form 4797 (such as gains from the sale of farm machinery), even though these gains may be related to your farming business.
Line 16:
IT-649 filers: Do not enter an amount.
All others: Enter only the amount from line 3 that represents gross income (gross receipts less cost of goods sold). Do not include gross income reported on line 3 that is from other types of businesses or products.
Line 17:
IT-649 filers: Do not enter an amount.
All others: Obtain this information from the partnership, S corporation, or estate or trust.
Line 18: Form IT-217 filers who are C corporation shareholders with a special gross income from farming election: If you are a shareholder of a New York C corporation that has a special gross income from farming election, include your share of the corporation's gross income from farming. Also, include your share of the partnership's or New York S corporation's gross income from farming that represents the partnership's or S corporation's share of a New York C corporation's gross income from farming, where that New York C corporation has a special gross income from farming election (obtain this information from the partnership or S corporation).
Line 20: If the line 13 amount is 0 and you have an amount other than 0 on line 19, enter 1.00 (100%).