CT-34-SH: New York S Corporation Shareholders' Information Schedule. (2024)
New York · NY DTF · Used for tax years 2024
Form CT-34-SH is the New York S Corporation Shareholders’ Information Schedule, filed with Form CT-3-S. It reports totals for New York State modifications, credits, and related taxes that shareholders must include in their pro rata shares on their personal income tax returns.
Who files this form
New York S corporations use Form CT-34-SH to report shareholders’ New York State modifications, credits, and identifying information. File this schedule with Form CT-3-S.
Each shareholder must include their pro rata share of the amounts reported on Schedule A on their personal income tax return.
What you'll need
- The corporation’s legal name and employer identification number (EIN).
- Each shareholder’s name, home address, SSN or EIN, ownership percentage, residency status, and entity status.
- A federal Schedule K-1 for each shareholder, which must be attached.
- Form CT-399, if applicable, for federal and New York depreciation amounts.
- Form CT-225 if reporting other additions or other subtractions.
- Applicable credit and recapture forms listed in Schedule A.
- An explanation for additions or subtractions from itemized deductions.
- If reporting START-UP NY or QEZE tax reduction credit factors from partnerships, the partnership information requested on the form. Attach a separate statement for multiple partnerships.
How to file
File Form CT-34-SH with Form CT-3-S.
- In Schedule A, enter the corporation’s total amounts on the applicable lines and file the applicable supporting forms.
- Complete Schedule B with each shareholder’s identifying information. Attach a federal Schedule K-1 for each shareholder.
- If you need more space, photocopy Schedule B, attach all additional schedules, and mark an X in the box provided.
The supplied form does not give a mailing address or e-filing directions.
Common mistakes
- Do not enter an individual shareholder’s share in place of the corporation’s totals on Schedule A. The form asks for total amounts.
- Do not forget to attach a federal Schedule K-1 for every shareholder.
- Make only one entry for each shareholder’s residency status and one for entity status in Schedule B.
- If you attach additional Schedule B pages, remember to mark an X in the box provided.
- For the rehabilitation of historic properties credit and farm donations to food pantries credit, the form directs you to Form CT-34-SH-I for additional reporting requirements.
Questions people ask
What information goes in Schedule A?
Schedule A reports total shareholder modifications related to S corporation items, along with New York State credits and taxes on early dispositions.
What do shareholders report on their personal returns?
Each shareholder must include their pro rata share of the amounts reported on Schedule A.
What if there are more shareholders than Schedule B can hold?
Photocopy Schedule B as needed. Attach all additional schedules and mark an X in the box provided.
Which shareholder entity statuses are listed?
Schedule B lists I for an individual, F for an estate or trust, and E for an exempt organization. Make only one entry for each shareholder.