New York additions
– Interest income on state and local bonds and obligations Do you have interest income from state and local bonds and obligations from states other than New York State or its local governments? If No, go to line 21. If Yes, enter any such interest income that you received or that was credited to you during 2018 that was not included in your federal AGI. This includes interest income on state and local bonds, interest and dividend income from tax-exempt bond mutual funds, and tax-exempt money market funds that invest in obligations of states other than New York. If you purchased a bond between interest dates, include the amount of interest you received during the year, less the seller’s accrued interest (the amount accrued from the interest date preceding your purchase to the date you purchased the bond). If you sold a bond between interest dates, include the amount of interest you received during the year plus the accrued interest amount (the amount accrued from the interest date preceding the date you sold the bond to the date you sold the bond). You should have received this information when you purchased or sold the bond.
**Bond premium amortization is not allowed as a direct offset to interest income, but rather must be reported as an itemized deduction addition adjustment on Form IT-196, line 44.
– Public employees 414(h) retirement contributions Are you a public employee of NYS or its local governments? If No, go to line 22. If Yes, enter the amount of 414(h) retirement contributions, if any, shown on your wage and tax statement(s), federal Form W-2, if you are:
• a member of the NYS and Local Retirement Systems, which include the NYS Employees’ Retirement System and the NYS Police and Fire Retirement System; or
• a member of the NYS Teachers’ Retirement System; or
• an employee of the State or City University of New York who belongs to the Optional Retirement Program; or
• a member of the NYC Employees’ Retirement System, the NYC Teachers’ Retirement System, the NYC Board of Education Retirement System, the NYC Police Pension Fund or the NYC Fire Department Pension Fund; or
• a member of the Manhattan and Bronx Surface Transit Operating Authority (MABSTOA) Pension Plan. Do not enter contributions to a section 401(k) deferred arrangement, section 403(b) annuity or section 457 deferred compensation plan.
– New York’s 529 college savings program distributions Did you make a withdrawal (other than a withdrawal to pay the higher education expenses of the designated beneficiary) during 2018 from an account established under New York’s 529 college savings program? If No, go to line 23. If Yes, the withdrawal is a nonqualified withdrawal and you must complete the worksheet on page 18.
A withdrawal is nonqualified if either of the following apply:
1. The withdrawal is actually disbursed in cash or in-kind from the college savings program and the funds are not used for the higher education of the designated beneficiary (even if the amount withdrawn is reinvested in New York’s college savings program within the IRC 60-day rollover period). For purposes of the above, higher education generally means public or private, non-profit or proprietary post-secondary educational institutions, in or outside New York State. Therefore, any withdrawal from a New York 529 college savings program used to pay tuition in connection with enrollment or attendance at elementary or secondary public, private, or religious schools, is a nonqualified withdrawal.
2. If on or after January 1, 2003, the funds are transferred from New York’s 529 college savings program to another state’s program (whether for the same beneficiary or for the benefit of another family member). However, nonqualified withdrawals do not include any withdrawals made in 2018 as a result of the death or disability of the designated beneficiary, regardless of how the funds are used. If you have participated in a New York 529 college savings program, a rollover of some or all its assets, either contributions or earnings, to a Qualified ABLE program is not considered a nonqualified withdrawal and requires no addition to your FAGI in computing New York AGI.
Note: Transfers between accounts of family members not disbursed in cash or in-kind within New York’s program are not considered distributions and therefore not required to be added back as nonqualified withdrawals.