State Tax forms
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State Tax forms Hi, 3 questions: 1. When will tax forms for NY and NJ be available? 2. Will I be able to prepare forms for both NY and NJ at the same time without have to trick the system (last year I had to change the club's address to a NY one, in order to generate a NY tax return since we are based in NJ)? 3. If a member living in NY moved to NJ, do we still have to file for NY state - I would think yes, but just want to confirm? Thanks, Nick Picini Sorry, I just saw the answer to question 1 on Bivio - I overlooked the fact that I could generate the NJ return already. Since the NY return didn't automatically generate, I would guess the system needs to be "manipulated" to do so? -----Original Message----- From: Nicholas Picini Sent: Sunday, February 16, 2014 5:23 PM To: club_cafe@bivio.com Subject: [club_cafe] State Tax forms Hi, 3 questions: 1. When will tax forms for NY and NJ be available? 2. Will I be able to prepare forms for both NY and NJ at the same time without have to trick the system (last year I had to change the club's address to a NY one, in order to generate a NY tax return since we are based in NJ)? 3. If a member living in NY moved to NJ, do we still have to file for NY state - I would think yes, but just want to confirm? Thanks, Nick Picini Nick, You will have to trick the software into producing the NY return. In theory, you should file both NY and NJ K-1 equivalents for the member who changed residency during the year, but bivio will not calculate the appropriate allocation of income between the two residency periods. You will have to make the necessary adjustments manually.
Assuming the numbers are small, there probably wouldn't be much of a difference in the income reported to each state if you just reported all of the income to the state where the partner was resident for the majority of the year.
Ira Smilovitz On Sunday, February 16, 2014, Nick <telcontar11@verizon.net> wrote: Sorry, I just saw the answer to question 1 on Bivio - I overlooked the fact that I could generate the NJ return already. Hi Ira,
Thanks for the response, but now I have an additional question specifically
related to the partner with split residency. Could I email you directly?
Thanks,
Nick
From: ira smilovitz
Sent: Monday, February 17, 2014 9:59 AM
Subject: Re: [club_cafe] State Tax forms Nick,
You will have to trick the software into producing the NY return.
In theory, you should file both NY and NJ K-1 equivalents for the member
who changed residency during the year, but bivio will not calculate the
appropriate allocation of income between the two residency periods. You will
have to make the necessary adjustments manually.
Assuming the numbers are small, there probably wouldn't be much of a
difference in the income reported to each state if you just reported all of the
income to the state where the partner was resident for the majority of the
year.
Ira Smilovitz On Sunday, February 16, 2014, Nick <telcontar11@verizon.net> wrote: Sorry, I just saw the answer to question 1 on Bivio - I overlooked the fact that I could generate the NJ return already. Nick, Why don't you email me at support@bivio.com. You can put my name in the subject line and it will get to me. Ira Smilovitz
On Mon, Feb 17, 2014 at 10:27 AM, Nick <telcontar11@verizon.net> wrote:
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