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Partnership Tax Return
IT-204Department of Taxation and FinancePartnership ReturnSee the instructions, Form IT-204-I.Legal nameFor calendar year 2023and23endingor tax year beginningEmployer identification number (EIN)NYS principal business activityTrade name of business if different from legal name aboveCity, village, or post officeAddress (number and street or rural route)StateZIP codeNAICS business code number (from NYSPub 910)Principal product or service Date business startedCountrySection 1 – Partnership informationSpecial conditions for filing your2023 tax return (see instr) ............A Mark an X in the box that applies to your entityRegular partnershipLimited liability partnership (LLP)Portfolio investment partnership (see instr.)OtherLimited liability company (LLC - including limited liability investment company and a limited liability trust company)B 1) Did the partnership have any income, gain, loss, or deduction derived from NY sources during theNo tax year?.................................................................................................................................................B1 Yes 2)If No, enter the number of resident partners .............................................................................................B2C Mark applicable box(es)Change of addressInitial returnAmended returnFinal return (submit explanation)NoD 1) Is this return the result of federal audit changes? .....................................................................................D1 Yes If Yes :2) Enter date of final federal determination ...............................................................................D23) Do you concede the federal audit changes? ........................................................................D3 YesNoE Did you file a NYS partnership return for: 1) 2021? ....................................................................................E1 YesNo2)2022?.....................................................................................E2 YesNo If No, state reason:F Number of partners 1) Article 22 ................................................................................................................ F12)Article 9-A .............................................................................................................. F23)Other ...................................................................................................................... F34)Total ....................................................................................................................... F4G Does the partnership currently have tax accounts with NYS for the following taxes?1) Sales and use tax YesNo..........(if Yes, enter ID number)..... G12) Withholding taxYesNo..........(if Yes, enter ID number)..... G2H Did the partnership have an interest in real property located in NYS during the last three years?....................H YesNoI Has there been a transfer or acquisition of a controlling interest in this entity during the last three years?...... I YesNoJ Did the partnership engage in a like-kind transaction under IRC 1031 during the tax year?............................. JYesNo Print designee’s nameThird-partydesignee? (see instr.) YesNo▼ PaidDesignee’s phone numberPersonal identificationnumber (PIN)( )Email:preparer must complete (see instr.) ▼Preparer’s signatureDatePreparer’s NYTPRIN▼ Sign here ▼ Signature of general partnerFirm’s name (or yours, if self-employed)Preparer’s PTIN or SSNAddressEmployer identification numberNYTPRINexcl. code DateEmail:Email:Mail your return to: STATE PROCESSING CENTER, PO BOX 15198, ALBANY NY 12212-5198.204001230094Daytime phone number( )Page 2 of 9 IT-204 (2023)Section 1 – Partnership information (continued)K Did the partnership sell property during the tax year that had a deferred gain from a previous IRC 1031 or IRC 1033 transaction? ...................................................................................................................................KYesNoL Was there a distribution of property or a transfer of a partnership interest during the tax year?....................... LYesNoM Does the partnership have a valid IRC section 754 election in place for this reporting period?........................M YesNoN Is this partnership under audit by the IRS or has it been audited in a prior year?.............................................NYesNoO Is the partnership required to file Form DTF-686 or DTF-686-ATT for this filing period, to report a reportable transaction, New York reportable transaction, listed transaction or registered tax shelter?..........OYesNo If Yes, complete and submit Form(s) DTF-686, DTF-686-ATT, and any applicable federal forms.P Did the partnership make purchases subject to sales and compensating use tax for which NYS tax was not paid? (see instructions)........................................................................................................................PYesNoQ Did the partnership have a financial account located in a foreign country? (see instructions) .............................QYesNoSection 2 – Federal ordinary business income (loss)Part 1 – Income from federal Form 1065 1 Gross receipts or sales .......................................................... 1 2 Returns and allowances ........................................................... 2 3 Subtract line 2 from line 1 .............................................................................................................. 34Cost of goods sold ........................................................................................................................ 4 5 Gross profit (subtract line 4 from line 3) ............................................................................................. 5 6 Ordinary income (loss) from other partnerships, estates, and trusts (submit statement) ................. 6 7 Net farm profit (loss) (submit federal Form 1040, Schedule F) ............................................................ 7 8 Net gain (loss) from federal Form 4797, Part II, line 17 (submit federal Form 4797) ......................... 8 9 Other income (loss) (submit statement) ........................................................................................... 9 10 Total income (loss) (combine lines 5 through 9) ................................................................................ 10Part 2 – Deductions from federal Form 106511Salaries and wages (other than to partners) (less employment credits) ....................................... 11 12 Guaranteed payments to partners ................................................................................................ 12 13 Repairs and maintenance ............................................................................................................. 13 14 Bad debts ...................................................................................................................................... 14 15Rent .............................................................................................................................................. 15 16 Taxes and licenses ........................................................................................................................ 16 17Interest .......................................................................................................................................... 1718Depreciation (if required, submit federal Form 4562) ................... 1819 Depreciation reported on federal Form 1125-A and elsewhere on return ..................................................... 1920 Subtract line 19 from line 18 ......................................................................................................... 2021 Depletion (do not deduct oil and gas depletion) .................................................................................. 2122 Retirement plans, etc .................................................................................................................... 2223 Employee benefit programs .......................................................................................................... 2323a Energy efficient commercial building deductions .......................................................................... 23a24 Other deductions (submit statement) ............................................................................................... 2425 Total deductions (add lines 11 through 17 and lines 20 through 24) ..................................................... 2526 Ordinary business income (loss) (subtract line 25 from line 10) ........................................................ 26204002230094IT-204 (2023) Page 3 of 9Section 3 – Cost of goods sold (from federal Form 1125-A, see instructions)27 Inventory at beginning of year ....................................................................................................... 28 Purchases ..................................................................................................................................... 29 Cost of labor .................................................................................................................................. 30 Additional IRC section 263A costs (submit statement) ..................................................................... 31 Other costs (submit statement) ........................................................................................................ 32 Total (add lines 27 through 31) .......................................................................................................... 33 Inventory at end of year ................................................................................................................ 34 Cost of goods sold (subtract line 33 from line 32) .............................................................................. 35 Methods used for valuing closing inventory (mark an X in applicable boxes) Cost2728293031323334Lower of cost or market Other (specify method used and explain)36 Was there a writedown of subnormal goods?.........................................................................................................YesNo37a Was LIFO inventory method adopted this tax year for any goods? (If Yes, submit federal Form 970.) .......................YesNo37b If the LIFO inventory method was used for this tax year, enter the amount of closing inventory computed under LIFO ............................................................................................................... 37b38 Do the rules of IRC section 263A (for property produced or acquired for resale) apply to the partnership? .........YesNo39 Was there any change in determining quantities, cost, or valuations between opening and closing inventory? ......YesNoIf Yes, explain204003230094Page 4 of 9 IT-204 (2023)Section 4 – Balance sheets per books (from federal Form 1065, Schedule L)AssetsBeginning of tax yearEnd of tax year(a) (b)(c)(d)40Cash ..................................... 4041 Trade notes and accounts receivable ......................... 4142 Less allowances for bad debts ................................. 4243Inventories ........................... 4344 U.S. government obligations. 4445Tax-exempt securities .......... 4546Other current assets (submit statement) ........................... 4647a Loans to partners (or persons related to partners) 47a47b Mortgage and real estate loans ................................. 47b48Other investments (submit statement) ........................... 4849Buildings and other depreciable assets ........... 4950Less accumulated depreciation ...................... 50 51 Depletable assets ................ 5152Less accumulated depletion. 5253Land (net any amortization) 5354Intangible assets (amortizable only) ............. 5455Less accumulated amortization ...................... 5556Other assets (submit statement) ........................... 5657Total assets .......................... 57Liabilities and capital58Accounts payable ................. 5859Mortgages, notes, bonds payable in less than one year ........................... 5960Other current liabilities (submit statement) ............... 6061All nonrecourse loans .......... 6162a Loans from partners (or persons related to partners). 62a62b Mortgages, notes, bonds payable in one year or more. 62b63Other liabilities (submit statement) ........................... 6364Partners’ capital accounts ...... 6465Total liabilities and capital .... 65204004230094Beginning of tax yearEnd of tax year(a) (b)(c)(d)IT-204 (2023) Page 5 of 9Section 5 – Reconciliation of income (loss) per books with income (loss) per return (From federal Form 1065, Schedule M-1; see instructions. If Schedule M-3 was filed, mark an X in the box file Schedule M-3 and any related documents with Form IT-204; skip Section 5 and continue with Section 6.)66 Net income (loss) per books ......................................................................................................... 66 67 Income included on return not recorded on books this year, from Schedule M-1, line 2 .............. 67 Identify:68 Guaranteed payments (other than health insurance) ................................................................... 68 69 Expenses recorded on books this year not included on return, from Schedule M-1, line 4 .......... 69 Identify:70 Add lines 66 through 69 ................................................................................................................ 7071 Income recorded on books this year not included on return, from Schedule M-1, line 6 .................................................. 71 Identify:72 Deductions included on return not charged against book income this year, from Schedule M-1, line 7 ...................... 72 Identify:73 Add lines 71 and 72 ...................................................................................................................... 73 74 Income (loss) (subtract line 73 from line 70) ...................................................................................... 74Section 6 – Analysis of partners’ capital accounts (from federal Form 1065, Schedule M-2)75 Balance at beginning of year ........................................................................................................ 76 Capital contributed – cash ............................................................................................................ 77 Capital contributed – property ....................................................................................................... 78 Net income (loss) per books ......................................................................................................... 79 Other increases ............................................................................................................................. Identify:757677787980 Add lines 75 through 79 ................................................................................................................ 80 81 Distributions – cash ................................................................ 81 82 Distributions – property .......................................................... 82 83 Other decreases .................................................................... 83 Identify:84 Add lines 81, 82, and 83 ............................................................................................................... 8485 Balance at end of year (subtract line 84 from line 80) ........................................................................ 85204005230094;Page 6 of 9 IT-204 (2023)Section 7 – Partners’ share of income, deductions, etc. (from federal Form 1065, Schedule K)Partners’ distributive share items86 Ordinary business income (loss) ..................................................................................................86 87 Net rental real estate income (loss) (submit federal Form 8825) ...................................................... 8788a Other gross rental income (loss) .......................................... 88a88b Expenses from other rental activities ................................... 88b 89 Other net rental income (loss) (subtract line 88b from line 88a) ........................................................ 90 Guaranteed payments .................................................................................................................91 Interest income ............................................................................................................................92 Ordinary dividends .......................................................................................................................93 Royalties ......................................................................................................................................94 Net short-term capital gain (loss) (submit federal Schedule D) .........................................................95 Net long-term capital gain (loss) (submit federal Schedule D) ..........................................................96 Net section 1231 gain (loss) (submit federal Form 4797) ................................................................. 97 Other income (loss) (see instructions) ............................................................................................ Identify:89909192939495969798 Section 179 deduction (submit federal Form 4562) .......................................................................... 99 Other deductions (see instructions) ................................................................................................ Identify:9899100 This line intentionally left blank .................................................................................................... 100101 Net earnings (loss) from self-employment ...................................................................................102 Tax-exempt income and nondeductible expenses (see instructions) ..............................................103 Distributions – cash and marketable securities ............................................................................104 Distributions – other property .......................................................................................................105 Other items not included above that are required to be reported separately to partners (see instr.) . Identify:101102103104105Analysis of net income (loss)106 Enter the amount from line 1 of the Analysis of Net Income (Loss) section on federal Form 1065 ... 106Analysis by type of partnerA B CD EFCorporate Individual Individual Partnership ExemptNominee/other(active)(passive) organizationGeneral partnersLimited partners204006230094IT-204 (2023) Page 7 of 9Section 8 – New York modifications (see instructions)107This line intentionally left blank108Total addition modifications (from Form IT-225, line 9 ) .................................................................. 108109This line intentionally left blank110Total subtraction modifications (from Form IT-225, line 18 ) ........................................................... 110111Additions to itemized deductionsLetterAmount111a111b111cLetterAmount111d111e111f112Total additions to itemized deductions (add lines 111a through 111f ) ............................................. 112113Subtractions from itemized deductionsLetterAmount113a113b113cLetterAmount113d113e113f114Total subtractions from itemized deductions (add lines 113a through 113f ) ................................... 114115This line intentionally left blank .................................................................................................. 115Section 9 – Other information116a116b116c116d116eNew York source gross income (see instructions) ........................................................................ 116aMCTD Zone 1 allocation percentage (see instructions) ................................................................ 116bMCTD Zone 2 allocation percentage (see instructions) ................................................................ 116cTotal receipts from the sale of goods by manufacturing ............................................................ 116dNew York adjusted basis of qualified manufacturing property ................................................... 116e%%117a Did the partnership sell assets subject to IRC 1060? ..........................................................................................YesNo117b If the partnership filed a group return on behalf of any nonresident partners, enter the special NYS identification number ..................................................................................................... 117b117c Is this partnership a partner in another partnership or LLC? (If Yes, list the names and EINs below; submit additional sheets if necessary.) ................................................................................................................... YesNoName of entity204007230094EINPage 8 of 9 IT-204 (2023)Section 10 – New York allocation schedulePart 1 – List all places, both in and outside of NYS, where the partnership carries on business (submit additional sheets if necessary)Street addressCity and stateDescription (see instructions)118Was the books and records method used to reflect income earned in New York? (If No, complete Part 2.) ........... YesNoPart 2 – Formula basis allocation of income if books and records do not reflect income earned in New York Items used as factorsA – Totals – in and outside of NYS B – New York State amountsC – Percent col. Bis of col. A Property percentage (see inst.)DollarsDollars119Real property owned ............. 119119120Real property rented from others. 120120121Tangible personal property owned. 121121121a Tangible personal property rented from others 121a121a122Property percentage (add lines 119 through 121a; see instructions) . 122122122%123 Payroll percentage (see instr.) 123123123%124 Gross income percentage (see instr.) 124 124 124%125Total of percentages (total column C, lines 122, 123, and 124) ........................................................................... 125% 126 Business allocation percentage (divide line 125 by three or by actual number of percentages if less than three) .126%Section 11 – Partners’ credit information (see instructions)Has the partnership (or an entity of which the partnership is an owner) been convicted of Bribery Involving Public Servants and Related Offenses, Corrupting the Government, or Defrauding the Government (NYS Penal Law Article 200 or 496, or section 195.20)? .......................................................................... YesPart 1 – Flow-through credit bases and information rownfield redevelopment tax credit (Form IT-611, IT-611.1, and/or IT-611.2)B127Site preparation credit component ............................................................................................. 127128Tangible property credit component .......................................................................................... 128129 On-site groundwater remediation credit component .................................................................. 129 130 This line intentionally left blank .................................................................................................. 130 131 This line intentionally left blank .................................................................................................. 131 132 This line intentionally left blank .................................................................................................. 132QEZE tax reduction credit (Form IT-604)133 QEZE employment increase factor ............................................................................................ 133 134 QEZE zone allocation factor ...................................................................................................... 134135QEZE benefit period factor ........................................................................................................ 135Excelsior jobs program tax credit (Form IT-607)136 Excelsior jobs tax credit component .......................................................................................... 136 137 Excelsior investment tax credit component ............................................................................... 137 138 Excelsior research and development tax credit component ...................................................... 138 139 Excelsior real property tax credit component ............................................................................ 139139a Excelsior child care services tax credit component ................................................................... 139a204008230094NoIT-204 (2023) Page 9 of 9Part 1 – Flow-through credit bases and information (continued) armers’ school tax credit (Form IT-217)F140 Acres of qualified agricultural property ...................................................................................... 141 Acres of qualified conservation property ................................................................................... 142 Eligible school district property taxes paid ................................................................................. 143 Acres of qualified agricultural property converted to nonqualified use ......................................Other flow-through credit bases and informationCredit basesCodeAmountCodeAmount144a144d144b144e144c144fCredit informationCodeInformation 144g144h144iCodeInformation144j144k144lPart 2 – Flow-through credits, addbacks and recaptures145Long-term care insurance credit (Form IT-249) ...........................................................................146a Investment credit (including employment incentive credit and historic barn rehabilitation credit; Form IT-212) .146b Research and development – investment credit (Form IT-212) ..................................................146c Investment credit using eligible farmer’s rate (Form IT-212) .......................................................147Other flow-through creditsCodeAmountCodeAmount147a147e147b147 f147g147c147d147h148Addbacks of credits and recapturesCodeAmount148a148b148c140141142143145146a146b146cCodeAmount148d148e148 fPart 3 – START-UP NY tax elimination credit information (Form IT-638)149START-UP NY business certificate number (Form DTF-74) ......................................................... 149 150 Year of START-UP NY business tax benefit period ................................................................... 150 151 START-UP NY area allocation factor ......................................................................................... 151204009230094
Form IT-204 Partnership Return Tax Year 2023
Extracted from PDF file 2023-new-york-form-it-204.pdf, last modified August 2007
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More about the New York Form IT-204Corporate Income TaxTax ReturnTY 2023
The instructions included are for partnerships completing Forms IT-204, IT-204-IP, IT-204.1, and IT-204-CP.
We last updated the Partnership Tax Return in January 2024,so this is the latest version of Form IT-204, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form IT-204 directly from TaxFormFinder.You can print other New York tax forms here.
Related New York Corporate Income Tax Forms:
TaxFormFinder has an additional 271 New York income tax forms that you may need, plus all federal income tax forms.These related forms may also be needed with the New York Form IT-204.
| Form Code | Form Name |
|---|---|
| Form IT-204-LL | Partnership, Limited Liability Company, and Limited Liability Partnership Filing Fee Payment FormVoucher |
| Form IT-204-CP | New York Corporate Partner's Schedule K-1.Amended Return |
| Form IT-204-IP | New York Partnership ReturnTax Return |
| Form IT-204.1 | New York Corporate Partners' Schedule K |
View all 272 New York Income Tax Forms
Form Sources:
New York usually releases forms for the current tax year between January and April.We last updated New York Form IT-204 from the Department of Taxation and Finance in January 2024.
Show Sources >
- Original Form PDF is https://tax.ny.gov/pdf/current_forms/it/it204_fill_in.pdf
- New York Income Tax Forms at http://www.tax.ny.gov/forms/income_cur_forms.htm
- New York Department of Taxation and Finance at http://www.tax.ny.gov/
Form IT-204 is a New York Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of New York Form IT-204
We have a total of twelve past-year versions of Form IT-204 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form IT-204
Form IT-204 Partnership Return Tax Year 2023
2022 Form IT-204
Form IT-204 Partnership Return Tax Year 2022
2021 Form IT-204
Form IT-204 Partnership Return Tax Year 2021
2020 Form IT-204
Form IT-204 Partnership Return Tax Year 2020
2019 Form IT-204
Form IT-204:2019:Partnership Return:it204
2018 Form IT-204
Form IT-204:2018:Partnership Return:it204
2017 Form IT-204
Form IT-204:2017:Partnership Return:it204
2016 Form IT-204
Form IT-204:2016:Partnership Return:it204
2015 Form IT-204
Form IT-204:2015:Partnership Return:it204
2014 Form IT-204
Form IT-204:2014:Partnership Return:it204
2013 Form IT-204
Form IT-204:2013:Partnership Return:it204
2012 Form IT-204
Form IT-204:2012:Partnership Return:it204
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