Line 9

Compute your NYC accumulation distribution credit using the worksheet below. If you received an accumulation distribution as a beneficiary of a trust, you may be allowed an accumulation distribution credit for your share of:

NYC income taxes paid by the trust,* and

any income tax imposed on the trust by another state, political subdivision within that state, or District of Columbia on income sourced to the other jurisdiction.*

*These amounts should be provided to you by the trust.

However, this credit:

cannot be more than the percentage of NYC tax due determined by dividing the portion of the income taxable to the trust in the other jurisdiction and taxable to the beneficiary’s total NYC income, and

may not reduce your tax due to an amount less than would have been due if the accumulation distribution was excluded from your New York adjusted gross income.

Submit a copy of the computation of your New York City accumulation distribution credit and enter the amount of the credit on line 9.

NYC accumulation distribution credit worksheet 1. Enter the amount from Form IT-201, line 49 1. _______ 2. Enter the amount from Form IT-201-ATT, line 33 2. _______ 3. Add lines 1 and 2 3. _______ 4. Enter New York City accumulation distribution credit 4. _______ 5. Enter the smaller of line 3 or line 4 here and on Form IT-201-ATT, line 9. This is your allowable New York City accumulation distribution credit 5. _______