Nonresident estates and trusts.
(b) Nonresident estates and trusts.
(1)The specific deduction of a nonresident estate or trust is an amount, not to exceed $5,000, which bears the same ratio to $5,000 as its New York items of tax preference (determined as explained in section 141.1[b][1] of this Part) bear to t#
(1) The specific deduction of a nonresident estate or trust is an amount, not to exceed $5,000, which bears the same ratio to $5,000 as its New York items of tax preference (determined as explained in section 141.1[b][1] of this Part) bear to the sum of the New York items of tax preference (determined as explained in section 122.1[b][1] of this Title) of the estate or trust (including the portion thereof allocated to the beneficiaries of such estate or trust), as if such nonresident estate or trust were a resident estate or trust.
(2)Reduction of the specific deduction is required only in cases where the fiduciary has allocated items of tax preference to the beneficiaries of the estate or trust during the taxable year.#
(2) Reduction of the specific deduction is required only in cases where the fiduciary has allocated items of tax preference to the beneficiaries of the estate or trust during the taxable year.