DTF-686: Tax Shelter Reportable Transactions - Attachment to New York State Return (2025)
New York · NY DTF · Used for tax years 2025
Form DTF-686 is an attachment to a New York State business or personal income tax return, including an amended return, for reporting tax shelter reportable transactions. It identifies federal and New York reportable transaction types and lists the number of attached IRS Forms 888
Who files this form
Form DTF-686 is for reporting federal and New York reportable transactions as an attachment to a New York State business or personal income tax return, including an amended return.
The form lists federal transaction categories and New York transaction categories, but does not provide detailed rules for deciding whether a transaction must be reported. It refers filers to Form DTF-686-I for instructions.
What you'll need
- Your tax return, for the name and taxpayer identification number shown on it.
- 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.
- IRS Forms 8886 being attached for federal reportable transactions.
- New York Forms DTF-686-ATT being attached for New York reportable transactions.
- Applicable codes for federal listed transactions being reported. The form directs you to the instructions for these codes.
How to file
File Form DTF-686 with your business tax return, amended business tax return, personal income tax return, or amended personal income tax return.
- Enter your identifying information and tax period.
- On line 1, mark an X in each federal transaction category that applies.
- On line 2, enter the total number of attached IRS Forms 8886.
- On line 3, enter the applicable federal listed transaction codes.
- On line 4, mark an X in each New York transaction category that applies.
- On line 5, enter the total number of attached New York Forms DTF-686-ATT.
The provided form does not give a mailing address or e-filing directions.
Common mistakes
- Leaving the tax period blank. The form specifically states that all filers must enter the beginning and ending dates of their tax period.
Questions people ask
Can I file this form with an amended return?
Yes. The form says to file it with a business or personal income tax return, including an amended return.
Can I select more than one transaction category?
Yes. Lines 1 and 4 tell you to mark an X in each box that applies.
Where do I report the number of attached forms?
Enter the total number of attached IRS Forms 8886 on line 2. Enter the total number of attached New York Forms DTF-686-ATT on line 5.
Do I need to include my spouse’s information?
The form asks for your spouse’s name for personal income tax, if applicable, and your spouse’s identification number, if applicable.