New York Form IT-204-IP, New York Partner’s Schedule K-1, is used by a partnership to report each partner’s share of New York income, deductions, credits, modifications, estimated tax payments, pass-through entity tax information, and other tax items. The form is prepared separately for each partner and is connected to the partnership’s New York Form IT-204. It gives the partner the information needed to complete their New York personal income tax return or other applicable New York filing. The form includes partnership-level information, partner identification details, ownership percentages, capital account information, resident status, group return details, estimated tax paid on behalf of the partner, MCTMT payments, PTET election information, federal and New York distributive share items, New York addition and subtraction modifications, itemized deduction adjustments, partner credit information, and START-UP NY credit details. In simple terms, Form IT-204-IP tells each partner what New York tax items flowed through to them from the partnership for the year, and it helps the partner report those amounts correctly on their own New York return.
How To File New York IT-204-IP Form
The partnership completes Form IT-204-IP for each partner and provides the completed schedule to that partner. The information on this schedule should match the partnership’s New York return and the partner’s share of partnership items. Complete the partnership information first, then complete the partner information, resident status, estimated tax payment sections, distributive share items, New York modifications, credit information, and other required items. If the schedule is final or amended, mark the correct box at the top. Partners should use the completed schedule when preparing their New York income tax return. The partnership should keep copies with its records and provide accurate supporting details for any codes, credits, modifications, and separately stated items reported on the form.
How To Complete New York IT-204-IP Form
Tax Year And Filing Status
For Calendar Year 2025 Or Tax Year Beginning And Ending: Enter the calendar year or fiscal year period covered by the partnership return. If the partnership uses a fiscal year, enter the beginning and ending dates.
Final K-1: Mark this box if this is the partner’s final New York Schedule K-1 from the partnership.
Amended K-1: Mark this box if this schedule changes or corrects a previously issued Form IT-204-IP for the same partner and tax year.
Partnership’s Information
Partnership’s Name: Enter the partnership’s legal name exactly as shown on Form IT-204.
Partnership’s EIN: Enter the partnership’s federal employer identification number.
Line A: Publicly Traded Partnership: Mark this box if the entity is a publicly traded partnership.
Line A: Portfolio Investment Partnership: Mark this box if the entity is a portfolio investment partnership.
Line B: Tax Shelter Registration Number: Enter the tax shelter registration number if the partnership has one. If it does not apply, leave it blank.
Line C: Business Allocation Percentage: Enter the partnership’s business allocation percentage for New York. This percentage is used to determine the New York portion of certain partnership items.
Partner’s Information
Partner’s Name: Enter the partner’s legal name.
Partner’s Identifying Number: Enter the partner’s Social Security number, individual taxpayer identification number, employer identification number, or other applicable tax identification number.
Partner’s Address: Enter the partner’s mailing address.
City: Enter the city for the partner’s address.
State: Enter the state for the partner’s address.
ZIP Code: Enter the ZIP code for the partner’s address.
Line D: General Partner Or LLC Member-Manager: Mark this box if the partner is a general partner or an LLC member-manager.
Line D: Limited Partner Or Other LLC Member: Mark this box if the partner is a limited partner or another LLC member who is not a member-manager.
Line E: Individual: Mark this box if the partner files as an individual.
Line E: Estate Or Trust: Mark this box if the partner is an estate or trust.
Line E: Partnership: Mark this box if the partner is another partnership.
Line F: Tax ID For Disregarded Entity Or Grantor Trust: If the partner is a disregarded entity or grantor trust, enter the tax identification number of the entity or person that will report the income, if known.
Line G: Sale Of Entire Interest: Mark Yes if the partner sold its entire partnership interest during the tax year. Mark No if the partner did not sell its entire interest.
Partner’s Share Of Profit, Loss, And Capital
Line H1: Profit, Beginning: Enter the partner’s profit percentage at the beginning of the year.
Line H1: Profit, Ending: Enter the partner’s profit percentage at the end of the year.
Line H2: Loss, Beginning: Enter the partner’s loss percentage at the beginning of the year.
Line H2: Loss, Ending: Enter the partner’s loss percentage at the end of the year.
Line H3: Capital, Beginning: Enter the partner’s capital percentage at the beginning of the year.
Line H3: Capital, Ending: Enter the partner’s capital percentage at the end of the year.
Partner’s Share Of Liabilities At The End Of The Year
Line I1: Nonrecourse: Enter the partner’s share of nonrecourse liabilities at the end of the year.
Line I2: Qualified Nonrecourse Financing: Enter the partner’s share of qualified nonrecourse financing at the end of the year.
Line I3: Recourse: Enter the partner’s share of recourse liabilities at the end of the year.
Partner’s Capital Account Analysis
Line J1: Beginning Capital Account: Enter the partner’s capital account balance at the beginning of the year.
Line J2: Capital Contributed During The Year, Cash: Enter cash contributions made by the partner during the year.
Line J3: Capital Contributed During The Year, Property: Enter property contributions made by the partner during the year.
Line J4: Current Year Increase Or Decrease: Enter the partner’s current-year increase or decrease in capital.
Line J5: Withdrawals And Distributions, Cash: Enter cash withdrawals and cash distributions made to the partner.
Line J6: Withdrawals And Distributions, Property: Enter property withdrawals and property distributions made to the partner.
Line J7: Ending Capital Account: Enter the partner’s ending capital account balance after all contributions, income, losses, withdrawals, and distributions.
Line J8: Tax Basis: Mark this box if the capital account is reported using the tax basis method.
Line J8: GAAP: Mark this box if the capital account is reported using generally accepted accounting principles.
Line J8: Book: Mark this box if the capital account is reported using book accounting.
Line J8: Other: Mark this box if another method is used. Attach or provide an explanation.
Resident Status
Mark all boxes that apply to the partner’s New York, Yonkers, and New York City residency status.
Line K: NYS Full-Year Resident: Mark this box if the partner was a New York State resident for the full year.
Line K: NYS Part-Year Resident: Mark this box if the partner was a New York State resident for only part of the year.
Line K: NYS Nonresident: Mark this box if the partner was not a New York State resident.
Line K: Yonkers Full-Year Resident: Mark this box if the partner was a Yonkers resident for the full year.
Line K: Yonkers Part-Year Resident: Mark this box if the partner was a Yonkers resident for only part of the year.
Line K: Yonkers Nonresident: Mark this box if the partner was not a Yonkers resident.
Line K: NYC Full-Year Resident: Mark this box if the partner was a New York City resident for the full year.
Line K: NYC Part-Year Resident: Mark this box if the partner was a New York City resident for only part of the year.
Line L: Special NYS Identification Number For Group Return: If the partner was included in a group return, enter the special New York State identification number, if known.
Estimated Tax, MCTMT, And PTET Information
Line M: Form IT-2658-E Filed With The Partnership: Mark Yes if Form IT-2658-E was filed with the partnership. Mark No if it was not filed.
Line N1: First Installment, NYS Estimated Tax Paid On Behalf Of Partner: Enter the date and amount of the first New York State estimated tax payment made on behalf of the partner from Form IT-2658-NYS.
Line N2: Second Installment, NYS Estimated Tax Paid On Behalf Of Partner: Enter the date and amount of the second New York State estimated tax payment made on behalf of the partner.
Line N3: Third Installment, NYS Estimated Tax Paid On Behalf Of Partner: Enter the date and amount of the third New York State estimated tax payment made on behalf of the partner.
Line N4: Fourth Installment, NYS Estimated Tax Paid On Behalf Of Partner: Enter the date and amount of the fourth New York State estimated tax payment made on behalf of the partner.
Line N: Total NYS Estimated Tax Paid On Behalf Of Partner: Add Lines N1 through N4 and enter the total.
Line O1: First Installment, Estimated MCTMT Paid On Behalf Of Partner: Enter the date and amount of the first estimated MCTMT payment made on behalf of the partner from Form IT-2658-MTA.
Line O2: Second Installment, Estimated MCTMT Paid On Behalf Of Partner: Enter the date and amount of the second estimated MCTMT payment made on behalf of the partner.
Line O3: Third Installment, Estimated MCTMT Paid On Behalf Of Partner: Enter the date and amount of the third estimated MCTMT payment made on behalf of the partner.
Line O4: Fourth Installment, Estimated MCTMT Paid On Behalf Of Partner: Enter the date and amount of the fourth estimated MCTMT payment made on behalf of the partner.
Line O: Total Estimated MCTMT Paid On Behalf Of Partner: Add Lines O1 through O4 and enter the total.
Line P: PTET Election: Mark Yes if the partnership elected to pay the pass-through entity tax for the current tax year. Mark No if it did not.
Line P: Resident Status For PTET Calculation: If the partnership elected PTET, mark Resident or Nonresident to show the status assigned to the partner for calculating pass-through entity taxable income.
Partner’s Share Of Income, Deductions, Etc.
Use this section to report the partner’s distributive share items. Column B reports the federal K-1 amount. Column C reports the New York State amount.
Line 1: Ordinary Business Income Or Loss: Enter the partner’s ordinary business income or loss in Column B and the New York State amount in Column C.
Line 2: Net Rental Real Estate Income Or Loss: Enter the partner’s net rental real estate income or loss in Column B and the New York State amount in Column C.
Line 3: Other Net Rental Income Or Loss: Enter the partner’s other net rental income or loss in Column B and the New York State amount in Column C.
Line 4: Guaranteed Payments: Enter guaranteed payments allocated to the partner in Column B and the New York State amount in Column C.
Line 5: Interest Income: Enter the partner’s interest income in Column B and the New York State amount in Column C.
Line 6: Ordinary Dividends: Enter the partner’s ordinary dividends in Column B and the New York State amount in Column C.
Line 7: Royalties: Enter the partner’s royalty income in Column B and the New York State amount in Column C.
Line 8: Net Short-Term Capital Gain Or Loss: Enter the partner’s net short-term capital gain or loss in Column B and the New York State amount in Column C.
Line 9: Net Long-Term Capital Gain Or Loss: Enter the partner’s net long-term capital gain or loss in Column B and the New York State amount in Column C.
Line 10: Net Section 1231 Gain Or Loss: Enter the partner’s net Section 1231 gain or loss in Column B and the New York State amount in Column C.
Line 11: Other Income Or Loss: Identify the type of other income or loss and enter the amount in Column B and the New York State amount in Column C.
Line 12: Section 179 Deduction: Enter the partner’s Section 179 deduction in Column B and the New York State amount in Column C.
Line 13: Other Deductions: Identify the type of other deduction and enter the amount in Column B and the New York State amount in Column C.
Line 14: This Line Intentionally Left Blank: Do not enter an amount on this line.
Line 15: Net Earnings Or Loss From Self-Employment: Enter the partner’s net earnings or loss from self-employment in Column B and the New York State amount in Column C.
Line 16: Tax-Exempt Income And Nondeductible Expenses: Enter tax-exempt income and nondeductible expenses in Column B and the New York State amount in Column C.
Line 17: Distributions, Cash And Marketable Securities: Enter cash and marketable securities distributed to the partner in Column B and the New York State amount in Column C, if applicable.
Line 18: Distributions, Other Property: Enter other property distributions in Column B and the New York State amount in Column C, if applicable.
Line 19: Other Separately Reported Items: Identify any other items not listed above that must be reported separately to the partner. Enter the amount in Column B and the New York State amount in Column C.
Partner’s Share Of New York Modifications
Use this section to report New York addition and subtraction modifications, plus itemized deduction adjustments.
Line 20a: New York State Addition: Enter the addition code number, the total amount in Column A, and the New York State allocated amount in Column B.
Line 20b: New York State Addition: Enter the second addition code number, total amount, and New York State allocated amount.
Line 20c: New York State Addition: Enter the third addition code number, total amount, and New York State allocated amount.
Line 20d: New York State Addition: Enter the fourth addition code number, total amount, and New York State allocated amount.
Line 20e: New York State Addition: Enter the fifth addition code number, total amount, and New York State allocated amount.
Line 20f: New York State Addition: Enter the sixth addition code number, total amount, and New York State allocated amount.
Line 21: Total Addition Modifications: Add the Column A amounts from Lines 20a through 20f and enter the total.
Line 22a: New York State Subtraction: Enter the subtraction code number, the total amount in Column A, and the New York State allocated amount in Column B.
Line 22b: New York State Subtraction: Enter the second subtraction code number, total amount, and New York State allocated amount.
Line 22c: New York State Subtraction: Enter the third subtraction code number, total amount, and New York State allocated amount.
Line 22d: New York State Subtraction: Enter the fourth subtraction code number, total amount, and New York State allocated amount.
Line 22e: New York State Subtraction: Enter the fifth subtraction code number, total amount, and New York State allocated amount.
Line 22f: New York State Subtraction: Enter the sixth subtraction code number, total amount, and New York State allocated amount.
Line 23: Total Subtraction Modifications: Add the Column A amounts from Lines 22a through 22f and enter the total.
Line 24a: Addition To Itemized Deductions: Enter the letter code and amount for the first addition to itemized deductions.
Line 24b: Addition To Itemized Deductions: Enter the letter code and amount for the second addition to itemized deductions.
Line 24c: Addition To Itemized Deductions: Enter the letter code and amount for the third addition to itemized deductions.
Line 24d: Addition To Itemized Deductions: Enter the letter code and amount for the fourth addition to itemized deductions.
Line 24e: Addition To Itemized Deductions: Enter the letter code and amount for the fifth addition to itemized deductions.
Line 24f: Addition To Itemized Deductions: Enter the letter code and amount for the sixth addition to itemized deductions.
Line 25: Total Additions To Itemized Deductions: Add Lines 24a through 24f and enter the total.
Line 26a: Subtraction From Itemized Deductions: Enter the letter code and amount for the first subtraction from itemized deductions.
Line 26b: Subtraction From Itemized Deductions: Enter the letter code and amount for the second subtraction from itemized deductions.
Line 26c: Subtraction From Itemized Deductions: Enter the letter code and amount for the third subtraction from itemized deductions.
Line 26d: Subtraction From Itemized Deductions: Enter the letter code and amount for the fourth subtraction from itemized deductions.
Line 26e: Subtraction From Itemized Deductions: Enter the letter code and amount for the fifth subtraction from itemized deductions.
Line 26f: Subtraction From Itemized Deductions: Enter the letter code and amount for the sixth subtraction from itemized deductions.
Line 27: Total Subtractions From Itemized Deductions: Add Lines 26a through 26f and enter the total.
Line 28: This Line Intentionally Left Blank: Do not enter an amount on this line.
Partner’s Other Information
Line 29a: Partner’s Share Of New York Source Gross Income: Enter the partner’s share of New York source gross income.
Line 29b: MCTD Zone 1 Allocation Percentage: Enter the partner’s MCTD Zone 1 allocation percentage, if applicable.
Line 29c: MCTD Zone 2 Allocation Percentage: Enter the partner’s MCTD Zone 2 allocation percentage, if applicable.
Line 29d: Partner’s Share Of Receipts From The Sale Of Goods By Manufacturing: Enter the partner’s share of receipts from manufacturing sales.
Line 29e: Partner’s Share Of New York Adjusted Basis Of Qualified Manufacturing Property: Enter the partner’s share of the New York adjusted basis of qualified manufacturing property.
Partner’s Credit Information
Part 1: Flow-Through Credit Bases And Information
Use this part to report credit bases and information that flow through from the partnership to the partner.
Brownfield Redevelopment Tax Credit
Line 30: Site Preparation Credit Component: Enter the partner’s share of the site preparation credit component. Use the correct column for Form IT-611, IT-611.1, or IT-611.2.
Line 31: Tangible Property Credit Component: Enter the partner’s share of the tangible property credit component. Use the correct brownfield credit form column.
Line 32: On-Site Groundwater Remediation Credit Component: Enter the partner’s share of the on-site groundwater remediation credit component. Use the correct brownfield credit form column.
Line 33: This Line Intentionally Left Blank: Do not enter an amount on this line.
Line 34: This Line Intentionally Left Blank: Do not enter an amount on this line.
Line 35: This Line Intentionally Left Blank: Do not enter an amount on this line.
QEZE Tax Reduction Credit
Line 36: QEZE Employment Increase Factor: Enter the partner’s QEZE employment increase factor.
Line 37: QEZE Zone Allocation Factor: Enter the partner’s QEZE zone allocation factor.
Line 38: QEZE Benefit Period Factor: Enter the partner’s QEZE benefit period factor.
Excelsior Jobs Program Tax Credit
Line 39: Excelsior Jobs Tax Credit Component: Enter the partner’s Excelsior jobs tax credit component.
Line 40: Excelsior Investment Tax Credit Component: Enter the partner’s Excelsior investment tax credit component.
Line 41: Excelsior Research And Development Tax Credit Component: Enter the partner’s Excelsior research and development tax credit component.
Line 42: Excelsior Real Property Tax Credit Component: Enter the partner’s Excelsior real property tax credit component.
Line 42a: Excelsior Child Care Services Tax Credit Component: Enter the partner’s Excelsior child care services tax credit component.
Farmers’ School Tax Credit
Line 43: Acres Of Qualified Agricultural Property: Enter the partner’s share of acres of qualified agricultural property.
Line 44: Acres Of Qualified Conservation Property: Enter the partner’s share of acres of qualified conservation property.
Line 45: Eligible School District Property Taxes Paid: Enter the partner’s share of eligible school district property taxes paid.
Line 46: Acres Of Qualified Agricultural Property Converted To Nonqualified Use: Enter the partner’s share of qualified agricultural property acres converted to nonqualified use.
Other Flow-Through Credit Bases And Information
Line 47a: Other Credit Base: Enter the credit code and amount for the first other flow-through credit base.
Line 47b: Other Credit Base: Enter the credit code and amount for the second other flow-through credit base.
Line 47c: Other Credit Base: Enter the credit code and amount for the third other flow-through credit base.
Line 47d: Other Credit Base: Enter the credit code and amount for the fourth other flow-through credit base.
Line 47e: Other Credit Base: Enter the credit code and amount for the fifth other flow-through credit base.
Line 47f: Other Credit Base: Enter the credit code and amount for the sixth other flow-through credit base.
Line 47g: Other Credit Information: Enter the credit code and required information for the first other flow-through credit information item.
Line 47h: Other Credit Information: Enter the credit code and required information for the second other flow-through credit information item.
Line 47i: Other Credit Information: Enter the credit code and required information for the third other flow-through credit information item.
Line 47j: Other Credit Information: Enter the credit code and required information for the fourth other flow-through credit information item.
Line 47k: Other Credit Information: Enter the credit code and required information for the fifth other flow-through credit information item.
Line 47l: Other Credit Information: Enter the credit code and required information for the sixth other flow-through credit information item.
Partner’s Credit Information Continued
Part 2: Flow-Through Credits, Addbacks, And Recaptures
Line 48: Long-Term Care Insurance Credit: Enter the partner’s share of the long-term care insurance credit from Form IT-249.
Line 49: Investment Credit: Enter the partner’s share of the investment credit, including employment incentive credit and historic barn rehabilitation credit, from Form IT-212.
Line 50: Research And Development, Investment Credit: Enter the partner’s share of the research and development investment credit from Form IT-212.
Line 50a: Investment Credit Using Eligible Farmer’s Rate: Enter the partner’s share of the investment credit calculated using the eligible farmer’s rate from Form IT-212.
Line 51a: Other Flow-Through Credit: Enter the code and amount for the first other flow-through credit.
Line 51b: Other Flow-Through Credit: Enter the code and amount for the second other flow-through credit.
Line 51c: Other Flow-Through Credit: Enter the code and amount for the third other flow-through credit.
Line 51d: Other Flow-Through Credit: Enter the code and amount for the fourth other flow-through credit.
Line 51e: Other Flow-Through Credit: Enter the code and amount for the fifth other flow-through credit.
Line 51f: Other Flow-Through Credit: Enter the code and amount for the sixth other flow-through credit.
Line 51g: Other Flow-Through Credit: Enter the code and amount for the seventh other flow-through credit.
Line 51h: Other Flow-Through Credit: Enter the code and amount for the eighth other flow-through credit.
Line 52a: Addback Or Recapture: Enter the code and amount for the first credit addback or recapture.
Line 52b: Addback Or Recapture: Enter the code and amount for the second credit addback or recapture.
Line 52c: Addback Or Recapture: Enter the code and amount for the third credit addback or recapture.
Line 52d: Addback Or Recapture: Enter the code and amount for the fourth credit addback or recapture.
Line 52e: Addback Or Recapture: Enter the code and amount for the fifth credit addback or recapture.
Line 52f: Addback Or Recapture: Enter the code and amount for the sixth credit addback or recapture.
Part 3: START-UP NY Tax Elimination Credit Information
Line 53: START-UP NY Business Certificate Number: Enter the START-UP NY business certificate number from Form DTF-74.
Line 54: Year Of START-UP NY Business Tax Benefit Period: Enter the year of the START-UP NY business tax benefit period.
Line 55: START-UP NY Area Allocation Factor: Enter the START-UP NY area allocation factor.