Worksheet 4 for Form IT-205 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).
| Description | Amount |
|---|---|
| 1 Add the income (not loss) amounts from federal Form 1041, lines 1, 2a, and 8 | 1. ____ |
| 2 Enter the income (not loss) from federal Schedule C, line 7 | 2. ____ |
| 3 Add the gain (not loss) amounts from federal Schedule D (Form 1041), column (h), lines 1a, 1b, 2, 3, 4, 8a, 8b, 9, 10, 11, and 13 | 3. ____ |
| 4 Add the amounts from federal Schedule E, lines 3, 4, 37, and 39 | 4. ____ |
| 5 Enter the income (not loss) amount from federal Schedule F, line 9 | 5. ____ |
| 6 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 1041, line 7, from federal Form 4684, enter that amount here | 6. ____ |
| 7 Enter the amount from federal Form 4835, line 7 | 7. ____ |
| 8 Enter the code B and C amounts in box 14 from all federal Schedule K-1s (Form 1065) that you received from partnerships that you are a partner in, less any partnership amounts from such partnerships already included on lines 1 through 7 | 8. ____ |
| 9 Enter the estate’s or trust’s share of S corporation gross income. IT-217 filers: Also include the estate's or trust's share of C corporation income (see instructions) | 9. ____ |
| 10 Federal gross income (add lines 1 through 9) | 10. ___ |
| 11 Excess federal gross income (see instructions) | 11. ____ |
| 12 Enter the amount (not including gross income from fishing) from federal Schedule E, line 42 | 12. ___ |
| 13 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) | 13. ___ |
| 14 Enter the amount from line 2 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 tree operation, or the sale of cider from a licensed farm cidery, as provided in Alcoholic Beverage Control Law § 58-c (see instructions) | 14. ___ |
| 15 Enter the estate’s or trust’s 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) | 15. ___ |
| 16 IT-217 filers only: Enter the estate's or trust's share of C corporation gross income from farming | 16. ___ |
| 17 Gross income from farming (add line 5, and lines 12 through 16) | 17. ___ |
| 18 Divide line 17 by line 11, and round the result to the fourth decimal place (see instructions) | 18. ___ |
Instructions for Worksheet 4
Line 9: S corporation shareholders: Obtain this information from the S corporation. Do not include any S corporation income included in lines 1 through 7.
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 11:
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 10 and enter the result here.
Form IT-647 or IT-661 filers: Subtract $30,000 from line 10 and enter the result here. If line 10 is less than $30,000, enter 0.
Line 13: 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 14: Include only the amount from line 2 that represents gross income (gross receipts less cost of goods sold). Do not include gross income reported on line 2 that is from other types of businesses or products.
Line 15: Obtain this information from the partnership, S corporation, or estate or trust.
Line 18: If the line 11 amount is 0 and you have an amount other than 0 on line 17, enter 1.00 (100%).