Instructions For Form It-399 - New York State Depreciation Schedule

IT-399 (2000) (back)

Instructions

your joint federal return. Attach a

Column F — Enter your New York

Use this form to figure your New York

schedule to each return showing each

depreciation deduction in column F,

adjustments for New York depreciation

spouse’s separate amounts, as if

based on the method you elected in

and federal ACRS depreciation.

separate federal returns were filed, and

column D.

If you have an interest in a passive

explain any differences.

Column G — Enter the ACRS

activity, the modifications required

deduction you took on your federal

Specific instructions

under sections 612(b)(25) and (c)(26)

return.

of the Tax Law for ACRS depreciation

Enter your name and your social

and New York depreciation must be

security number or employer

Part II — Year-of-disposition

made for the full amounts allowable as

identification number in the spaces

adjustment

a federal depreciation deduction

provided on the front of this form.

(100%), even though the activity may

If you dispose of property (except for

Check the box that indicates which

be subject to federal loss deduction

section 280F property) that you placed

New York State income tax return you

limitations. It is only under Internal

in service inside or outside New York

are filing and attach this form to that

Revenue Code (IRC) section 469

State after December 31, 1980, but

return.

(Passive Activity Losses and Credits

before January 1, 1985, or property

If you use a delivery service other than

Limited) that there is a limitation on

placed in service outside New York

the U.S. Postal Service, see Private

passive loss deductions.

State after December 31, 1984, but

delivery services in the instructions for

before January 1, 1994, you must

In the case of a partnership using

the return you are filing.

adjust your New York State income by

ACRS to determine depreciation, the

the difference between the total New

Part I — Depreciation

individual partners will make the

York depreciation deduction and the

adjustments to income on their personal

Depreciation is an amount you can

total federal ACRS deduction claimed

income tax returns. The adjustments for

deduct each year for assets you buy to

on that property. If you elected to switch

partners will be their distributive share

use in your business or hold to produce

to IRC section 168 depreciation for

of New York depreciation and federal

income. (Land is never depreciable.)

property placed in service outside New

ACRS depreciation determined by the

Depreciation starts when you place the

York State in taxable years beginning

partnership as of the end of the

property in service and ends when you

after December 31, 1984, but before

partnership year ending within the

take the property out of service or it

January 1, 1994, in the year-of-

partner’s taxable year. Form IT-399 will

reaches the end of its useful life. (See

disposition, the adjustment should take

be completed only by the partnership,

Part II for the deduction to be taken in

into account only those years prior to

and not by each individual partner. This

the year you dispose of the property.)

switching to IRC section 168.

treatment will be the same for a

Column C — Enter the depreciable

beneficiary of an estate or trust that is

Column C — Enter the method used to

basis of the assets you place in service

on a fiscal-year basis.

dispose of the property. Disposition

in the same year. Depreciable basis is

includes but is not limited to sale,

If you are a shareholder of an electing

the cost or other basis reduced by any

exchange, transfer and obsolescence.

New York State S corporation, your

salvage value, the part of the basis you

proportionate share of the S

Column D — Enter the total New York

elected to amortize or expense under

corporation’s depreciation deduction will

depreciation you claimed on the

section 179 of the IRC and any federal

be provided to you by the S corporation.

property you disposed of. (If the

investment credit subtracted in figuring

property was placed in service during

the federal unadjusted basis of the

If you are a nonresident or part-year

1981, do not include the amount of

asset.

resident, you must complete

ACRS depreciation claimed for the

Form IT-399 as if you were a New York

Column D — Enter the depreciation

property on your 1981 New York State

State resident for the entire year.

method you elect. You must use a

return.)

Transfer the amounts from Part I and

method that is allowed under

Part II to Form IT-203, Nonresident and

Column E — Enter the total federal

section 167 of the IRC, as it was in

Part-Year Resident Income Tax Return .

ACRS deduction you claimed on your

effect on December 31, 1980.

For more information on the addition

federal return for the property you

Column E — Enter the useful life of the

and subtraction modifications for ACRS

disposed of. (If the property was placed

property. You cannot use the ACRS

and New York State depreciation, see

in service during 1981, do not include

recovery period in figuring your

the instructions for Form IT-203.

the amount of ACRS depreciation

New York State depreciation. You must

claimed for the property on your 1981

If you are married and file a joint federal

use the useful life or rate provided for in

federal return.)

return but are required to file separate

section 167 of the IRC. In some cases

New York returns, complete only one

the useful life under section 167 may be

Form IT-399 showing the amounts from

the same as the recovery period.

IT-399

2000

Instructions For Form It-399 - New York State Depreciation Schedule - 2000

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