CT-399: Depreciation Adjustment Schedule (2024)
New York · NY DTF · Used for tax years 2024
Form CT-399 is New York’s Depreciation Adjustment Schedule for corporations. It reports federal and New York State depreciation, adjustments for disposed property, and the resulting adjustments to New York State taxable income.
Who files this form
Form CT-399 is a depreciation adjustment schedule for corporations under New York Tax Law Articles 9-A and 33.
List only depreciable property that requires or is entitled to a depreciation modification when calculating New York State taxable income. The form has separate sections for ACRS/MACRS property and property qualified under IRC section 168(k)(2) for federal special depreciation.
The form refers to the unavailable Form CT-399-I instructions for more details about which property belongs on the schedule.
What you'll need
Have the following information ready to complete the schedule:
- The corporation’s legal name and employer identification number.
- Each property’s description, date placed in service, and cost or other basis.
- Accumulated federal depreciation and the federal depreciation deduction.
- The method used to calculate New York State depreciation, the life or rate, accumulated New York State depreciation, and allowable New York State depreciation.
- For disposition adjustments, total federal and New York State depreciation taken in prior and current years.
- Whether you disposed of property during the tax period for which an investment tax credit was previously claimed.
If you need more space, attach separate sheets formatted like the applicable section of the form.
Common mistakes
- Listing property that does not belong on the schedule. The form says to list only depreciable property that requires or is entitled to a New York State depreciation modification.
- Using a different layout for extra property lists. Attached sheets must display the information in the same format as the applicable section.
- Skipping disposition adjustments. The form says to complete Parts 2 and 3 if you have disposed of any property listed on this form in a prior year.
- Putting a disposition difference in the wrong column. In Part 2, enter federal depreciation exceeding New York State depreciation in column E. Enter New York State depreciation exceeding federal depreciation in column F.
Questions people ask
What is the difference between Sections A and B?
Section A is for ACRS/MACRS property. Section B is for property qualified under IRC section 168(k)(2) for federal special depreciation.
What if I run out of space to list property?
You may attach separate sheets. Use the same information layout shown in the applicable section and include the attached-list amounts where indicated.
How do I combine the Part 1 totals?
On line 3, add lines 1 and 2 in columns C, D, E, H, and I.
Where do the Part 3 totals go if I file Form CT-3?
Enter the amount from line 10, column A, on Form CT-225, Schedule A. Enter the amount from line 10, column B, on Form CT-225, Schedule B.
Does the form ask about property tied to an investment tax credit?
Yes. Mark Yes or No to indicate whether you disposed of property during this tax period for which the investment tax credit was previously claimed. The form refers to the instructions for details.