DTF-686: Tax Shelter Reportable Transactions - Attachment to New York State Return (2024)
New York · NY DTF · Used for tax years 2024
Form DTF-686 is an attachment to a New York State return for reporting tax shelter reportable transactions. It identifies the types of federal and New York reportable transactions and the number of attached IRS Forms 8886 and New York Forms DTF-686-ATT.
Who files this form
Form DTF-686 is used to report federal or New York reportable transactions as an attachment to a New York State return. The form directs filers to attach it to their business tax return or personal income tax return, including an amended return.
What you'll need
Have the following information and applicable attachments ready:
- Your name and taxpayer identification number as shown on your tax return.
- Your spouse’s name and identification number, if applicable for personal income tax.
- Your mailing address and email address.
- The beginning and ending dates of your tax period.
- Any IRS Forms 8886 being attached, plus the total number attached.
- Any New York Forms DTF-686-ATT being attached, plus the total number attached.
- The applicable codes for each federal listed transaction being reported. The form refers you to the instructions for these codes.
For the consolidated disclosure waiver, the form includes fields for an authorized corporate officer’s printed name, signature, official title, email address, telephone number, and date.
How to file
File Form DTF-686 with your New York State business tax return, amended business tax return, personal income tax return, or amended personal income tax return.
On the form:
- Mark an X in the boxes for each applicable federal reportable transaction type.
- Enter the number of attached IRS Forms 8886 on line 2.
- Enter the applicable codes for federal listed transactions on line 3.
- Mark an X in the boxes for each applicable New York reportable transaction type.
- Enter the number of attached Forms DTF-686-ATT on line 5.
- Enter your tax period’s beginning and ending dates.
The supplied form does not provide a mailing address or e-file directions.
Common mistakes
- Do not leave the tax period blank. The form states that all filers must enter the beginning and ending dates.
- Do not omit this form from the return you are filing. It directs you to file it with your business or personal income tax return, including an amended return.
Questions people ask
Can I attach this form to an amended return?
Yes. The form specifically lists amended business tax returns and amended personal income tax returns.
Which federal transaction types are listed?
The form lists listed transactions, confidential transactions, transactions with contractual protection, loss transactions, transactions with a brief assets holding period, and transactions of interest. Mark an X in all applicable boxes.
Which New York transaction types are listed?
The form lists New York listed transactions, New York confidential transactions, and New York transactions with contractual protection.
Where do I enter the number of attached disclosure forms?
Enter the total number of attached IRS Forms 8886 on line 2 and the total number of attached New York Forms DTF-686-ATT on line 5.
Do I need to provide my spouse’s information?
For personal income tax, the form asks for your spouse’s name and identification number if applicable.